Neurogene (NASDAQ:NGNE) Hits New 12-Month High – Should You Buy?

Neurogene Inc. (NASDAQ:NGNE) shares hit a new 52-week high on Wednesday . The company traded as high as $37.69 and last traded at $38.57, with a volume of 20899 shares changing hands. The stock had previously closed at $36.80.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Canaccord Genuity Group reduced their price target on Neurogene to $180.00 and set a “buy” rating for the company in a report on Monday, April 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Neurogene in a research report on Tuesday, April 21st. Guggenheim assumed coverage on Neurogene in a report on Tuesday, April 28th. They issued a “buy” rating and a $69.00 target price for the company. UBS Group set a $70.00 price target on shares of Neurogene in a research note on Wednesday, June 3rd. Finally, HC Wainwright reiterated a “buy” rating and issued a $70.00 price target on shares of Neurogene in a report on Tuesday, June 9th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $84.83.

Neurogene Trading Up 1.4%

The stock has a market capitalization of $589.50 million, a price-to-earnings ratio of -8.20 and a beta of 1.68. The stock’s 50 day moving average is $29.70 and its 200 day moving average is $23.57.

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

Insider Transactions at Neurogene

In other Neurogene news, CFO Christine Mikail Cvijic sold 4,200 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $36.13, for a total transaction of $151,746.00. Following the sale, the chief financial officer owned 84,040 shares in the company, valued at approximately $3,036,365.20. This represents a 4.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 19,200 shares of company stock valued at $639,932. 11.68% of the stock is currently owned by corporate insiders.

Institutional Trading of Neurogene

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets increased its position in Neurogene by 89.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,067 shares of the company’s stock worth $36,000 after purchasing an additional 978 shares in the last quarter. Daiwa Securities Group Inc. purchased a new position in Neurogene in the 4th quarter valued at about $66,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Neurogene by 17.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,983 shares of the company’s stock worth $82,000 after purchasing an additional 1,059 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Neurogene during the 4th quarter worth about $165,000. Finally, Bridgeway Capital Management LLC purchased a new stake in shares of Neurogene during the third quarter worth about $187,000. 52.37% of the stock is currently 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.