Neurogene (NASDAQ:NGNE) Earns “Buy” Rating from HC Wainwright

Neurogene (NASDAQ:NGNE)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a note issued to investors on Tuesday, MarketBeat reports. They presently have a $70.00 price target on the stock. HC Wainwright’s price target suggests a potential upside of 144.76% from the company’s previous close.

Several other equities research analysts have also commented on NGNE. Guggenheim assumed coverage on shares of Neurogene in a report on Tuesday, April 28th. They issued a “buy” rating and a $69.00 price target on the stock. Canaccord Genuity Group lowered their price target on shares of Neurogene to $180.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Neurogene in a report on Tuesday, April 21st. Rodman & Renshaw assumed coverage on shares of Neurogene in a report on Wednesday, June 3rd. They issued a “buy” rating and a $70.00 price target on the stock. Finally, UBS Group set a $70.00 price target on shares of Neurogene in a report on Wednesday, June 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $73.13.

Neurogene Stock Performance

NASDAQ:NGNE opened at $28.60 on Tuesday. Neurogene has a one year low of $14.65 and a one year high of $37.27. The firm has a market cap of $451.94 million, a price-to-earnings ratio of -6.29 and a beta of 1.69. The firm’s fifty day moving average is $26.09 and its two-hundred day moving average is $21.93.

Neurogene (NASDAQ:NGNE) last posted its quarterly 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). As a group, equities research analysts predict that Neurogene will post -5.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Christine Mikail Cvijic sold 9,600 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $31.25, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer directly owned 93,640 shares in the company, valued at $2,926,250. The trade was a 9.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stuart Cobb sold 6,797 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $20.81, for a total value of $141,445.57. Following the completion of the sale, the insider owned 30,497 shares of the company’s stock, valued at $634,642.57. This trade represents a 18.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 20,442 shares of company stock valued at $525,622 over the last 90 days. Company insiders own 11.68% of the company’s stock.

Institutional Investors Weigh In On Neurogene

Institutional investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC boosted its holdings in Neurogene by 35.3% in the 4th quarter. Jennison Associates LLC now owns 533,088 shares of the company’s stock worth $10,982,000 after buying an additional 138,999 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Neurogene by 12.8% in the 1st quarter. Bank of New York Mellon Corp now owns 26,043 shares of the company’s stock worth $525,000 after buying an additional 2,950 shares during the last quarter. Daiwa Securities Group Inc. acquired a new stake in Neurogene in the 4th quarter worth about $66,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Neurogene in the 4th quarter worth about $165,000. Finally, Brevan Howard Capital Management LP acquired a new stake in Neurogene in the 3rd quarter worth about $223,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

Neurogene Company Profile

Neurogene, Inc is a clinical?stage biotechnology company 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.