Neurogene (NASDAQ:NGNE) Stock Price Up 7.2% – Time to Buy?

Neurogene Inc. (NASDAQ:NGNE)’s stock price traded up 7.2% during mid-day trading on Tuesday . The stock traded as high as $34.47 and last traded at $34.9150. Approximately 146,702 shares were traded during trading, a decline of 16% from the average session volume of 174,607 shares. The stock had previously closed at $32.56.

Wall Street Analysts Forecast Growth

NGNE has been the subject of several analyst reports. Canaccord Genuity Group cut their target price on Neurogene to $180.00 and set a “buy” rating for the company in a research note on Monday, April 6th. HC Wainwright reissued a “buy” rating and issued a $70.00 price target on shares of Neurogene in a report on Tuesday, June 9th. Guggenheim initiated coverage on shares of Neurogene in a research report on Tuesday, April 28th. They issued a “buy” rating and a $69.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Neurogene in a report on Tuesday, April 21st. Finally, Rodman & Renshaw initiated coverage on shares of Neurogene in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $70.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Neurogene presently has an average rating of “Buy” and an average price target of $84.83.

Neurogene Trading Up 0.1%

The firm has a 50 day moving average of $29.92 and a two-hundred day moving average of $23.70. The company has a market cap of $604.98 million, a PE ratio of -8.36 and a beta of 1.68.

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

Insider Buying and Selling at Neurogene

In related news, CFO Christine Mikail Cvijic sold 9,600 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $31.25, for a total value of $300,000.00. Following the transaction, the chief financial officer owned 93,640 shares of the company’s stock, valued at approximately $2,926,250. This trade represents a 9.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 19,200 shares of company stock valued at $639,932. 11.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Neurogene

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets lifted its stake in Neurogene by 89.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,067 shares of the company’s stock worth $36,000 after purchasing an additional 978 shares in the last quarter. ADAR1 Capital Management LLC grew its holdings in shares of Neurogene by 3.4% in the third quarter. ADAR1 Capital Management LLC now owns 30,633 shares of the company’s stock worth $531,000 after purchasing an additional 1,008 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of 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. Bank of New York Mellon Corp raised its stake 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 valued at $525,000 after acquiring an additional 2,950 shares in the last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in Neurogene during the 4th quarter valued at $66,000. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

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.