Neurogene (NASDAQ:NGNE) Announces Quarterly Earnings Results

Neurogene (NASDAQ:NGNE) released its earnings results on Monday. The company reported ($0.99) EPS for the quarter, topping analysts’ consensus estimates of ($1.04) by $0.05, Zacks reports.

Neurogene Stock Down 1.8 %

NASDAQ:NGNE opened at $13.96 on Tuesday. The stock has a 50 day moving average of $17.09 and a 200-day moving average of $29.30. Neurogene has a 52 week low of $13.47 and a 52 week high of $74.49.

Insider Buying and Selling

In other news, CFO Christine Mikail Cvijic sold 4,501 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $16.94, for a total transaction of $76,246.94. Following the completion of the transaction, the chief financial officer now directly owns 72,343 shares in the company, valued at approximately $1,225,490.42. The trade was a 5.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 9.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reduced their price objective on Neurogene from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $59.80.

About Neurogene

Neurogene Inc, a biotechnology company, develops genetic medicines for rare neurological diseases. The company's product candidates include NGN-401 which is packaged in an adeno-associated virus 9 that is in Phase 1/2 clinical trial for the treatment of Rett syndrome; and NGN-101, a conventional gene therapy candidate that is in Phase 1/2 clinical trial to treat CLN5 Batten disease.