Neurogene Inc. (NASDAQ:NGNE) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Neurogene Inc. (NASDAQ:NGNE) have been given an average recommendation of “Moderate Buy” by the six research firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $83.6667.

A number of brokerages have recently weighed in on NGNE. Canaccord Genuity Group cut their price objective on Neurogene from $180.00 to $166.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Neurogene in a research report on Friday, July 17th. UBS Group set a $70.00 price target on shares of Neurogene in a report on Wednesday, June 3rd. Rodman & Renshaw initiated coverage on shares of Neurogene in a research report on Wednesday, June 3rd. They set a “buy” rating and a $70.00 price target for the company. Finally, HC Wainwright decreased their price objective on shares of Neurogene from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th.

Insider Activity

In related news, CFO Christine Mikail Cvijic sold 4,200 shares of the business’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $36.13, for a total transaction of $151,746.00. Following the completion of the transaction, the chief financial officer directly owned 84,040 shares in the company, valued at $3,036,365.20. The trade was a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 9,600 shares of company stock worth $339,932 over the last three months. Company insiders own 11.68% of the company’s stock.

Institutional Investors Weigh In On Neurogene

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its stake in shares of Neurogene by 89.8% during 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. State of Wyoming acquired a new stake in Neurogene during the second quarter worth about $31,000. ADAR1 Capital Management LLC grew its holdings in Neurogene by 3.4% during the third quarter. ADAR1 Capital Management LLC now owns 30,633 shares of the company’s stock worth $531,000 after acquiring an additional 1,008 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Neurogene by 17.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,983 shares of the company’s stock valued at $82,000 after acquiring an additional 1,059 shares in the last quarter. Finally, Legal & General Group Plc acquired a new position in Neurogene in the second quarter valued at approximately $35,000. 52.37% of the stock is owned by institutional investors and hedge funds.

Neurogene Price Performance

NASDAQ NGNE opened at $36.24 on Tuesday. The company has a market cap of $725.16 million, a price-to-earnings ratio of -7.20 and a beta of 1.70. The stock’s fifty day moving average price is $35.89 and its 200 day moving average price is $28.51. Neurogene has a 1 year low of $15.93 and a 1 year high of $43.66.

Neurogene (NASDAQ:NGNE) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($1.53) EPS for the quarter, missing analysts’ consensus estimates of ($1.42) by ($0.11). Research analysts expect that Neurogene will post -5.62 earnings per share for the current year.

About Neurogene

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.