HC Wainwright Has Lowered Expectations for Neurogene (NASDAQ:NGNE) Stock Price

Neurogene (NASDAQ:NGNE) had its price target trimmed by HC Wainwright from $55.00 to $50.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock. HC Wainwright also issued estimates for Neurogene’s Q1 2025 earnings at ($0.85) EPS, Q2 2025 earnings at ($0.91) EPS, Q3 2025 earnings at ($0.95) EPS, Q4 2025 earnings at ($0.98) EPS and FY2025 earnings at ($3.68) EPS.

Neurogene Stock Performance

Shares of NGNE opened at $15.33 on Tuesday. Neurogene has a 52 week low of $13.47 and a 52 week high of $74.49. The stock has a 50 day moving average price of $16.92 and a two-hundred day moving average price of $28.96. The firm has a market capitalization of $227.73 million, a P/E ratio of -3.59 and a beta of 1.01.

Neurogene (NASDAQ:NGNE) last released its quarterly earnings results on Monday, March 24th. The company reported ($0.99) EPS for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.05. The company had revenue of $0.93 million during the quarter. On average, equities analysts forecast that Neurogene will post -4.27 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Christine Mikail Cvijic sold 4,501 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now directly owns 72,343 shares of the company’s stock, valued at $1,225,490.42. This trade represents a 5.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 9.92% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Neurogene

A number of hedge funds and other institutional investors have recently made changes to their positions in NGNE. Charles Schwab Investment Management Inc. raised its position in Neurogene by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 30,317 shares of the company’s stock worth $1,272,000 after acquiring an additional 741 shares during the period. Virtus ETF Advisers LLC increased its stake in shares of Neurogene by 45.1% during the 4th quarter. Virtus ETF Advisers LLC now owns 3,183 shares of the company’s stock worth $73,000 after purchasing an additional 989 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Neurogene by 9.2% in the 4th quarter. Rhumbline Advisers now owns 15,704 shares of the company’s stock worth $359,000 after purchasing an additional 1,326 shares during the period. Wells Fargo & Company MN lifted its stake in Neurogene by 34.5% in the fourth quarter. Wells Fargo & Company MN now owns 5,444 shares of the company’s stock valued at $124,000 after purchasing an additional 1,397 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in Neurogene by 192.8% in the third quarter. BNP Paribas Financial Markets now owns 2,170 shares of the company’s stock worth $91,000 after buying an additional 1,429 shares during the last quarter. 52.37% of the stock is owned by hedge funds and other institutional investors.

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.