Neurogene Inc. (NASDAQ:NGNE) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Neurogene Inc. (NASDAQ:NGNE) have received an average recommendation of “Moderate Buy” from the six analysts that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $83.6667.

A number of research firms have weighed in on NGNE. Rodman & Renshaw began coverage on shares of Neurogene in a research note on Wednesday, June 3rd. They set a “buy” rating and a $70.00 price target on the stock. HC Wainwright dropped their price objective on shares of Neurogene from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday. UBS Group set a $70.00 price objective on shares of Neurogene in a report on Wednesday, June 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Neurogene in a research report on Friday, July 17th. Finally, Canaccord Genuity Group lowered their target price on shares of Neurogene from $180.00 to $166.00 and set a “buy” rating on the stock in a research note on Wednesday.

Insiders Place Their Bets

In other Neurogene news, CFO Christine Mikail Cvijic sold 4,200 shares of Neurogene stock in a transaction that occurred 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 directly owned 84,040 shares of the company’s stock, valued at approximately $3,036,365.20. The trade was a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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. Insiders sold 9,600 shares of company stock worth $339,932 over the last 90 days. 11.68% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Neurogene

Several hedge funds and other institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Neurogene by 17.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,983 shares of the company’s stock valued at $82,000 after buying an additional 1,059 shares in the last quarter. Bank of America Corp DE raised its stake in Neurogene by 81.6% during the second quarter. Bank of America Corp DE now owns 95,401 shares of the company’s stock worth $1,426,000 after acquiring an additional 42,880 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Neurogene by 89.8% during the third quarter. BNP Paribas Financial Markets now owns 2,067 shares of the company’s stock worth $36,000 after acquiring an additional 978 shares in the last quarter. Bridgeway Capital Management LLC bought a new position in shares of Neurogene during the third quarter valued at $187,000. Finally, Balyasny Asset Management L.P. bought a new position in shares of Neurogene during the third quarter valued at $12,114,000. Institutional investors own 52.37% of the company’s stock.

Neurogene Stock Down 3.7%

Neurogene stock opened at $35.63 on Friday. The business has a 50 day moving average price of $33.92 and a two-hundred day moving average price of $26.83. The stock has a market cap of $712.96 million, a price-to-earnings ratio of -7.08 and a beta of 1.70. Neurogene has a 12 month low of $15.93 and a 12 month high of $43.66.

Neurogene (NASDAQ:NGNE) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($1.53) earnings per share for the quarter, missing the consensus estimate of ($1.42) by ($0.11). On average, analysts expect that Neurogene will post -5.63 earnings per share 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.