Canaccord Genuity Group Initiates Coverage on Neurogene (NASDAQ:NGNE)

Equities research analysts at Canaccord Genuity Group initiated coverage on shares of Neurogene (NASDAQ:NGNE) in a note issued to investors on Friday,Benzinga reports. The firm set a “buy” rating and a $200.00 price target on the stock.

A number of other equities analysts have also recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Neurogene in a report on Thursday, January 22nd. Lifesci Capital began coverage on shares of Neurogene in a research report on Monday, January 26th. They issued an “outperform” rating and a $50.00 target price for the company. Wall Street Zen cut shares of Neurogene from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Finally, HC Wainwright reissued a “buy” rating and set a $70.00 price target on shares of Neurogene in a research report on Tuesday, January 13th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $70.00.

Neurogene Trading Up 26.4%

Shares of NASDAQ:NGNE traded up $5.19 during trading on Friday, hitting $24.87. 965,523 shares of the company’s stock traded hands, compared to its average volume of 153,189. The company has a 50-day moving average price of $18.59 and a 200-day moving average price of $21.40. Neurogene has a 52 week low of $6.88 and a 52 week high of $37.27. The company has a market cap of $385.22 million, a price-to-earnings ratio of -5.99 and a beta of 1.59.

Institutional Trading of Neurogene

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its stake in Neurogene by 89.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,067 shares of the company’s stock valued at $36,000 after buying an additional 978 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Neurogene by 43.6% during the second quarter. PNC Financial Services Group Inc. now owns 4,055 shares of the company’s stock worth $61,000 after acquiring an additional 1,232 shares during the period. Daiwa Securities Group Inc. acquired a new position in shares of Neurogene in the fourth quarter valued at approximately $66,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Neurogene by 17.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,983 shares of the company’s stock worth $82,000 after purchasing an additional 1,059 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Neurogene during the fourth quarter worth approximately $165,000. Institutional investors own 52.37% of the company’s stock.

Neurogene Company Profile

Neurogene, Inc is a clinical‐stage biotechnology company specializing in the development of gene therapies for rare neurological diseases. The company’s lead platform employs adeno‐associated virus (AAV) vectors designed to deliver functional copies of disease-causing genes directly to the central nervous system. Neurogene’s pipeline focuses on inherited lysosomal storage disorders, including investigational programs for GM1 and GM2 gangliosidoses, with additional preclinical efforts targeting other monogenic neurodegenerative conditions.

Neurogene’s proprietary AAV9‐based delivery system has been engineered to cross the blood-brain barrier, aiming to provide durable gene expression in affected tissues.