Neurogene (NASDAQ:NGNE) Coverage Initiated by Analysts at JPMorgan Chase & Co.

Research analysts at JPMorgan Chase & Co. began coverage on shares of Neurogene (NASDAQ:NGNE) in a report released on Thursday, Briefing.com reports. The brokerage set an “overweight” rating and a $60.00 price target on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 131.93% from the company’s previous close.

A number of other brokerages have also recently issued reports on NGNE. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Neurogene in a research note on Friday, July 17th. William Blair upgraded shares of Neurogene to a “strong-buy” rating in a research report on Wednesday, September 23rd. HC Wainwright cut their price target on Neurogene from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. Guggenheim increased their price target on Neurogene from $69.00 to $81.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Finally, Canaccord Genuity Group reduced their price target on Neurogene from $180.00 to $166.00 and set a “buy” rating on the stock in a research report on Wednesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $80.29.

Neurogene Trading Up 1.7%

Neurogene stock opened at $25.87 on Thursday. Neurogene has a 1 year low of $15.93 and a 1 year high of $43.66. The company has a market cap of $517.66 million, a PE ratio of -5.14 and a beta of 1.70. The company’s 50-day moving average is $34.36 and its two-hundred day moving average is $30.85.

Neurogene (NASDAQ:NGNE) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($1.53) EPS for the quarter, missing the consensus estimate of ($1.42) by ($0.11). Research analysts forecast that Neurogene will post -5.8 EPS for the current year.

Institutional Trading of Neurogene

Hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp acquired a new position in Neurogene in the second quarter valued at about $904,000. BlackRock Inc. acquired a new stake in shares of Neurogene during the second quarter worth about $33,274,000. Renaissance Technologies LLC raised its position in shares of Neurogene by 210.0% during the first quarter. Renaissance Technologies LLC now owns 43,400 shares of the company’s stock worth $875,000 after purchasing an additional 29,400 shares during the period. Wellington Management Group LLP bought a new position in shares of Neurogene during the 2nd quarter valued at about $987,000. Finally, Deutsche Bank AG bought a new position in shares of Neurogene during the 2nd quarter valued at about $3,354,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

Neurogene Company Profile

Neurogene Inc is a clinical-stage biotechnology company focused on developing genetic medicines for patients with rare and devastating neurological diseases. The company’s work centers on gene therapies designed to address severe neurodevelopmental and neurodegenerative disorders for which treatment options are limited.

Neurogene’s pipeline includes NGN-401, an investigational gene therapy being developed for Rett syndrome, and NGN-101, an investigational therapy targeting CLN5 disease, a form of neuronal ceroid lipofuscinosis also known as Batten disease.