Neurogene Inc. (NASDAQ:NGNE) Given Average Recommendation of “Buy” by Brokerages

Neurogene Inc. (NASDAQ:NGNE) has received a consensus rating of “Buy” from the six analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $84.8333.

NGNE has been the topic of several research reports. UBS Group set a $70.00 target price on Neurogene in a research report on Wednesday, June 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $70.00 price target on shares of Neurogene in a report on Tuesday, June 9th. Canaccord Genuity Group cut their price target on Neurogene to $180.00 and set a “buy” rating for the company in a report on Monday, April 6th. Rodman & Renshaw initiated coverage on Neurogene in a report on Wednesday, June 3rd. They issued a “buy” rating and a $70.00 price target for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Neurogene in a report on Tuesday, April 21st.

Insider Transactions at Neurogene

In other Neurogene news, CFO Christine Mikail Cvijic sold 9,600 shares of the firm’s stock in a transaction 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 completion of the sale, the chief financial officer owned 93,640 shares of the company’s stock, valued at $2,926,250. This trade represents a 9.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Neurogene

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC increased its stake in Neurogene by 210.0% during the first quarter. Renaissance Technologies LLC now owns 43,400 shares of the company’s stock worth $875,000 after acquiring an additional 29,400 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Neurogene by 12.8% during the first quarter. Bank of New York Mellon Corp now owns 26,043 shares of the company’s stock worth $525,000 after buying an additional 2,950 shares during the period. Virtus Investment Advisers LLC boosted its position in shares of Neurogene by 128.0% during the fourth quarter. Virtus Investment Advisers LLC now owns 12,716 shares of the company’s stock worth $262,000 after buying an additional 7,138 shares during the period. Logos Global Management LP purchased a new position in shares of Neurogene during the fourth quarter worth $4,017,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in shares of Neurogene during the fourth quarter worth $575,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

Neurogene Price Performance

NASDAQ NGNE opened at $30.79 on Thursday. The company has a market cap of $486.48 million, a PE ratio of -6.77 and a beta of 1.69. The stock’s 50 day simple moving average is $27.32 and its 200-day simple moving average is $22.36. Neurogene has a 1-year low of $14.65 and a 1-year high of $37.27.

Neurogene (NASDAQ:NGNE) last released its earnings results on Tuesday, May 12th. The company reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($1.30) by ($0.09). On average, equities research analysts anticipate that Neurogene will post -5.63 EPS for the current fiscal year.

Neurogene Company Profile

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.