William Blair Weighs in on Neurogene Inc.’s Q1 2024 Earnings (NASDAQ:NGNE)

Neurogene Inc. (NASDAQ:NGNE) – William Blair decreased their Q1 2024 earnings per share estimates for shares of Neurogene in a research note issued to investors on Wednesday, April 17th. William Blair analyst S. Corwin now expects that the company will earn ($1.38) per share for the quarter, down from their prior estimate of ($1.12). William Blair has a “Outperform” rating and a $61.00 price target on the stock. The consensus estimate for Neurogene’s current full-year earnings is ($6.77) per share. William Blair also issued estimates for Neurogene’s FY2024 earnings at ($4.61) EPS and FY2025 earnings at ($3.23) EPS.

A number of other equities analysts have also recently commented on NGNE. Stifel Nicolaus started coverage on Neurogene in a report on Friday, January 5th. They set a “buy” rating and a $31.00 target price for the company. HC Wainwright increased their target price on Neurogene from $45.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Finally, TD Cowen initiated coverage on Neurogene in a research report on Thursday, January 4th. They issued an “outperform” rating for the company.

Neurogene Stock Down 6.1 %

Shares of Neurogene stock opened at $31.58 on Friday. The firm’s 50 day moving average price is $37.78. Neurogene has a 12 month low of $12.20 and a 12 month high of $53.00.

Institutional Investors Weigh In On Neurogene

Large investors have recently made changes to their positions in the stock. US Bancorp DE purchased a new stake in shares of Neurogene in the fourth quarter valued at approximately $67,000. ADAR1 Capital Management LLC purchased a new position in Neurogene in the fourth quarter worth approximately $105,000. BML Capital Management LLC purchased a new position in Neurogene in the fourth quarter worth approximately $478,000. Vanguard Group Inc. purchased a new position in Neurogene in the fourth quarter worth approximately $977,000. Finally, Nantahala Capital Management LLC purchased a new position in Neurogene in the fourth quarter worth approximately $1,401,000. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Neurogene Company Profile

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.