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

Neurogene Inc. (NASDAQ:NGNE) has received a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $74.1667.

Several analysts have weighed in on NGNE shares. Canaccord Genuity Group dropped their price objective on shares of Neurogene to $180.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Neurogene in a research note on Tuesday, April 21st. Guggenheim started coverage on Neurogene in a research report on Tuesday, April 28th. They set a “buy” rating and a $69.00 price target on the stock. Finally, Lifesci Capital started coverage on Neurogene in a research report on Monday, January 26th. They set an “outperform” rating and a $50.00 price target on the stock.

Neurogene Stock Performance

NASDAQ NGNE opened at $27.71 on Friday. The firm has a 50-day moving average of $24.65 and a 200-day moving average of $21.97. The stock has a market cap of $437.82 million, a PE ratio of -6.09 and a beta of 1.69. Neurogene has a 52-week low of $14.65 and a 52-week high of $37.27.

Neurogene (NASDAQ:NGNE) last posted its earnings results on Tuesday, May 12th. The company reported ($1.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.30) by ($0.09). As a group, analysts predict that Neurogene will post -5.74 EPS for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Neurogene

Hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets raised its position in shares of Neurogene by 89.8% in 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 in the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of Neurogene in the 4th quarter valued at approximately $66,000. PNC Financial Services Group Inc. raised its position in shares of Neurogene by 24.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,055 shares of the company’s stock valued at $88,000 after buying an additional 1,000 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Neurogene by 17.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,983 shares of the company’s stock valued at $82,000 after buying an additional 1,059 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Neurogene in the 4th quarter valued at approximately $165,000. 52.37% of the stock is currently owned by institutional investors and hedge funds.

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.