BML Capital Management LLC Purchases New Shares in Neurogene Inc. (NASDAQ:NGNE)

BML Capital Management LLC purchased a new stake in Neurogene Inc. (NASDAQ:NGNE) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 24,666 shares of the company’s stock, valued at approximately $478,000. Neurogene accounts for about 0.4% of BML Capital Management LLC’s investment portfolio, making the stock its 27th largest position.

Neurogene Stock Down 3.0 %

NGNE traded down $0.94 during trading on Wednesday, hitting $30.23. The stock had a trading volume of 52,572 shares, compared to its average volume of 127,539. Neurogene Inc. has a twelve month low of $12.20 and a twelve month high of $53.00. The company has a market capitalization of $388.46 million, a price-to-earnings ratio of -2.43 and a beta of 1.26. The business has a 50-day moving average of $37.82.

Wall Street Analyst Weigh In

Several research firms recently commented on NGNE. TD Cowen began coverage on shares of Neurogene in a research report on Thursday, January 4th. They issued an “outperform” rating for the company. HC Wainwright boosted their price objective on shares of Neurogene from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Stifel Nicolaus initiated coverage on shares of Neurogene in a research note on Friday, January 5th. They issued a “buy” rating and a $31.00 price objective on the stock. Finally, William Blair initiated coverage on shares of Neurogene in a research note on Thursday, March 21st. They issued an “outperform” rating and a $61.00 price objective on the stock.

About Neurogene

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.