Neurogene Inc. (NASDAQ:NGNE) Given Average Recommendation of "Moderate Buy" by Analysts

Shares of Neurogene Inc. (NASDAQ:NGNE - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the nine ratings firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $46.1667.Neurogene Stock Plummets 44%: Is All Hope Lost for This Biotech?"A number of research firms have commented on NGNE. Craig Hallum began coverage on shares of Neurogene in a research report on Tuesday, June 17th. They set a "buy" rating and a $50.00 price target on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Neurogene in a research report on Wednesday. Finally, HC Wainwright reiterated a "buy" rating and issued a $45.00 target price on shares of Neurogene in a report on Thursday.Read Our Latest Research Report on NGNEInstitutional Trading of NeurogeneHedge funds and other institutional investors have recently made changes to their positions in the business. Nuveen LLC bought a new stake in shares of Neurogene in the 1st quarter worth approximately $322,000. Wellington Management Group LLP raised its holdings in shares of Neurogene by 58.5% in the 1st quarter. Wellington Management Group LLP now owns 34,421 shares of the company's stock worth $403,000 after purchasing an additional 12,704 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Neurogene by 2,985.1% during the first quarter. GAMMA Investing LLC now owns 4,134 shares of the company's stock valued at $48,000 after acquiring an additional 4,000 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Neurogene by 8.2% during the first quarter. Bank of New York Mellon Corp now owns 24,445 shares of the company's stock valued at $286,000 after acquiring an additional 1,844 shares during the period. Finally, EntryPoint Capital LLC acquired a new stake in shares of Neurogene during the first quarter valued at approximately $148,000. 52.37% of the stock is currently owned by institutional investors. Neurogene Trading Down 4.3%NGNE stock opened at $30.21 on Friday. Neurogene has a 52 week low of $6.88 and a 52 week high of $74.49. The company has a market capitalization of $431.10 million, a price-to-earnings ratio of -7.01 and a beta of 1.58. The firm's 50-day moving average is $20.09 and its two-hundred day moving average is $18.02. Neurogene (NASDAQ:NGNE - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported ($1.05) EPS for the quarter, topping analysts' consensus estimates of ($1.15) by $0.10. On average, equities research analysts predict that Neurogene will post -4.27 earnings per share for the current year. Neurogene Company Profile (Get Free Report)Neurogene Inc, a biotechnology company, develops genetic medicines for rare neurological diseases. The company's product candidates include NGN-401 which is packaged in an adeno-associated virus 9 that is in Phase 1/2 clinical trial for the treatment of Rett syndrome; and NGN-101, a conventional gene therapy candidate that is in Phase 1/2 clinical trial to treat CLN5 Batten disease.Featured ArticlesFive stocks we like better than NeurogeneBest Energy Stocks - Energy Stocks to Buy Now3 Heavily Shorted Stocks That Could Pop on Rate Cuts3 Stocks to Consider Buying in OctoberBroadcom Gets Second $420 Target as CPO Win Boosts OutlookWhat is a Secondary Public Offering? What Investors Need to KnowPepsiCo’s Deep Discount Will Soon Evaporate: Buy It While You CanThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Neurogene Right Now?Before you consider Neurogene, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Neurogene wasn't on the list.While Neurogene currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here