Neurogene (NASDAQ:NGNE) Stock Rating Upgraded by Guggenheim

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

Other equities analysts have also recently issued research reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Neurogene in a research note on Tuesday, April 21st. Lifesci Capital assumed coverage on shares of Neurogene in a research note on Monday, January 26th. They issued an “outperform” rating and a $50.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and issued a $70.00 price objective on shares of Neurogene in a research note on Tuesday, January 13th. Finally, Canaccord Genuity Group lowered their price objective on shares of Neurogene to $180.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. One 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Neurogene Stock Performance

NGNE opened at $26.09 on Tuesday. The stock has a market capitalization of $407.42 million, a P/E ratio of -6.15 and a beta of 1.56. The company’s 50-day simple moving average is $22.29 and its two-hundred day simple moving average is $22.25. Neurogene has a 52-week low of $11.77 and a 52-week high of $37.27.

Neurogene (NASDAQ:NGNE) last posted its earnings results on Tuesday, March 24th. The company reported ($1.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.20) by $0.08. Research analysts forecast that Neurogene will post -5.35 EPS for the current fiscal year.

Insider Activity at Neurogene

In other news, insider Stuart Cobb sold 6,797 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 value of $141,445.57. Following the transaction, the insider owned 30,497 shares in the company, valued at $634,642.57. This represents a 18.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Christine Mikail Cvijic sold 4,045 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 transaction of $84,176.45. Following the completion of the transaction, the chief financial officer owned 105,798 shares in the company, valued at $2,201,656.38. This trade represents a 3.68% decrease in their position. The disclosure for this sale is available in the SEC filing. 11.64% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Neurogene

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Balyasny Asset Management L.P. purchased a new stake in Neurogene in the 3rd quarter worth approximately $12,114,000. ArrowMark Colorado Holdings LLC increased its holdings in Neurogene by 1.8% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 595,839 shares of the company’s stock worth $10,326,000 after acquiring an additional 10,442 shares in the last quarter. Jennison Associates LLC increased its holdings in Neurogene by 35.3% in the 4th quarter. Jennison Associates LLC now owns 533,088 shares of the company’s stock worth $10,982,000 after acquiring an additional 138,999 shares in the last quarter. State Street Corp increased its holdings in Neurogene by 47.8% in the 4th quarter. State Street Corp now owns 307,797 shares of the company’s stock worth $6,341,000 after acquiring an additional 99,487 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Neurogene by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 249,695 shares of the company’s stock worth $5,145,000 after acquiring an additional 3,262 shares in the last quarter. 52.37% of the stock is owned by hedge funds and other 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.