Neurogene Inc. (NASDAQ:NGNE) Receives Average Rating of “Buy” from Brokerages

Shares of Neurogene Inc. (NASDAQ:NGNE) have been assigned a consensus rating of “Buy” from the six analysts that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $84.8333.

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Neurogene in a report on Tuesday, April 21st. Guggenheim began coverage on shares of Neurogene in a report on Tuesday, April 28th. They set a “buy” rating and a $69.00 target price on the stock. UBS Group set a $70.00 target price on shares of Neurogene in a report on Wednesday, June 3rd. Canaccord Genuity Group cut their price target on shares of Neurogene to $180.00 and set a “buy” rating for the company in a report on Monday, April 6th. Finally, HC Wainwright reissued a “buy” rating and issued a $70.00 price target on shares of Neurogene in a report on Tuesday, June 9th.

Insider Activity

In related news, CFO Christine Mikail Cvijic sold 4,200 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $36.13, for a total value of $151,746.00. Following the sale, the chief financial officer owned 84,040 shares in the company, valued at approximately $3,036,365.20. This trade represents a 4.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 19,200 shares of company stock valued at $639,932 in the last quarter. Company insiders own 11.68% of the company’s stock.

Hedge Funds Weigh In On Neurogene

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NGNE. Renaissance Technologies LLC increased its stake in Neurogene by 210.0% in the 1st quarter. Renaissance Technologies LLC now owns 43,400 shares of the company’s stock worth $875,000 after acquiring an additional 29,400 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Neurogene by 12.8% during the first quarter. Bank of New York Mellon Corp now owns 26,043 shares of the company’s stock worth $525,000 after purchasing an additional 2,950 shares in the last quarter. Virtus Investment Advisers LLC grew its holdings in shares of Neurogene by 128.0% during the fourth quarter. Virtus Investment Advisers LLC now owns 12,716 shares of the company’s stock worth $262,000 after purchasing an additional 7,138 shares in the last quarter. Logos Global Management LP bought a new position in shares of Neurogene in the fourth quarter worth approximately $4,017,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of Neurogene in the fourth quarter worth approximately $575,000. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Neurogene Stock Performance

NASDAQ:NGNE opened at $37.31 on Monday. The business’s fifty day moving average is $31.32 and its 200 day moving average is $24.63. The firm has a market cap of $589.50 million, a price-to-earnings ratio of -8.20 and a beta of 1.68. Neurogene has a 52-week low of $15.93 and a 52-week high of $43.66.

Neurogene (NASDAQ:NGNE) last issued its earnings results on Tuesday, May 12th. The company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($1.30) by ($0.09). Equities analysts predict that Neurogene will post -5.63 EPS for the current fiscal year.

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.