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

Neurogene (NASDAQ:NGNE) had its target price trimmed by HC Wainwright from $50.00 to $45.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

NGNE has been the topic of several other reports. BMO Capital Markets cut their target price on Neurogene from $45.00 to $16.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. Robert W. Baird set a $38.00 price target on shares of Neurogene in a report on Tuesday, March 25th. Finally, William Blair reaffirmed an “outperform” rating on shares of Neurogene in a report on Tuesday, March 25th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $46.20.

Neurogene Price Performance

NASDAQ NGNE opened at $15.51 on Tuesday. The stock’s fifty day moving average price is $13.47 and its 200 day moving average price is $21.05. Neurogene has a 1 year low of $6.88 and a 1 year high of $74.49. The company has a market cap of $221.20 million, a price-to-earnings ratio of -3.57 and a beta of 1.56.

Neurogene (NASDAQ:NGNE) last released its earnings results on Friday, May 9th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.05) by ($0.03). Research analysts expect that Neurogene will post -4.27 earnings per share for the current year.

Insider Buying and Selling at Neurogene

In other news, CFO Christine Mikail Cvijic sold 4,501 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $16.94, for a total transaction of $76,246.94. Following the sale, the chief financial officer now directly owns 72,343 shares of the company’s stock, valued at $1,225,490.42. This represents a 5.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 11.64% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Neurogene

Several hedge funds have recently modified their holdings of the company. Nuveen LLC purchased a new stake in shares of Neurogene during the 1st quarter worth about $322,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Neurogene by 9.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 11,231 shares of the company’s stock worth $132,000 after acquiring an additional 941 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Neurogene by 12.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,969 shares of the company’s stock worth $398,000 after acquiring an additional 3,652 shares in the last quarter. Raiffeisen Bank International AG boosted its stake in shares of Neurogene by 87.5% during the 1st quarter. Raiffeisen Bank International AG now owns 30,000 shares of the company’s stock worth $351,000 after acquiring an additional 14,000 shares in the last quarter. Finally, Blair William & Co. IL boosted its stake in shares of Neurogene by 141.3% during the 1st quarter. Blair William & Co. IL now owns 151,180 shares of the company’s stock worth $1,770,000 after acquiring an additional 88,540 shares in 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.