Neurogene (NASDAQ:NGNE) Stock Rating Upgraded by Guggenheim

Neurogene (NASDAQ:NGNE) was upgraded by stock analysts at Guggenheim to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

NGNE has been the topic of a number of other reports. Canaccord Genuity Group lowered their price target on Neurogene to $180.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Neurogene in a report on Tuesday, April 21st. Lifesci Capital assumed coverage on Neurogene in a report on Monday, January 26th. They set an “outperform” rating and a $50.00 price target on the stock. Finally, HC Wainwright reissued a “buy” rating and set a $70.00 price target on shares of Neurogene in a report on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $67.00.

Neurogene Price Performance

Shares of NGNE opened at $26.09 on Tuesday. Neurogene has a 12 month low of $11.77 and a 12 month high of $37.27. The company has a market cap of $407.42 million, a P/E ratio of -6.15 and a beta of 1.56. The stock has a fifty day moving average price of $22.29 and a 200 day moving average price of $22.25.

Neurogene (NASDAQ:NGNE) last issued its quarterly earnings results on Tuesday, March 24th. The company reported ($1.12) EPS for the quarter, beating analysts’ consensus estimates of ($1.20) by $0.08. As a group, research analysts anticipate that Neurogene will post -5.35 earnings per share for the current year.

Insider Activity

In related news, CFO Christine Mikail Cvijic sold 4,045 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $20.81, for a total transaction of $84,176.45. Following the completion of the sale, the chief financial officer directly owned 105,798 shares of the company’s stock, valued at $2,201,656.38. This represents a 3.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stuart Cobb sold 6,797 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $20.81, for a total transaction of $141,445.57. Following the sale, the insider owned 30,497 shares of the company’s stock, valued at $634,642.57. The trade was a 18.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 11.64% of the company’s stock.

Institutional Investors Weigh In On Neurogene

Several large investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings 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 worth $82,000 after acquiring an additional 1,059 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Neurogene by 81.6% in the 2nd quarter. Bank of America Corp DE now owns 95,401 shares of the company’s stock valued at $1,426,000 after purchasing an additional 42,880 shares during the period. AlphaQuest LLC increased its stake in Neurogene by 221.4% in the 3rd quarter. AlphaQuest LLC now owns 16,454 shares of the company’s stock worth $285,000 after purchasing an additional 11,335 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Neurogene by 24.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,055 shares of the company’s stock worth $88,000 after buying an additional 1,000 shares during the period. Finally, Raiffeisen Bank International AG raised its holdings in Neurogene by 13.3% during the 3rd quarter. Raiffeisen Bank International AG now owns 34,000 shares of the company’s stock worth $602,000 after buying an additional 4,000 shares during the period. 52.37% of the stock is owned by institutional investors.

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.