Neurogene (NASDAQ:NGNE) Posts Earnings Results, Beats Expectations By $0.08 EPS

Neurogene (NASDAQ:NGNE) announced its quarterly earnings data on Tuesday. The company reported ($1.12) EPS for the quarter, beating analysts’ consensus estimates of ($1.20) by $0.08, Zacks reports.

Neurogene Trading Up 8.0%

Shares of Neurogene stock opened at $20.90 on Wednesday. The company has a fifty day moving average price of $19.33 and a 200 day moving average price of $21.65. Neurogene has a twelve month low of $6.88 and a twelve month high of $37.27. The stock has a market cap of $323.74 million, a price-to-earnings ratio of -5.09 and a beta of 1.53.

Wall Street Analyst Weigh In

NGNE has been the topic of a number of research analyst reports. Wall Street Zen lowered Neurogene from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. Canaccord Genuity Group initiated coverage on shares of Neurogene in a report on Friday, February 27th. They set a “buy” rating on the stock. HC Wainwright reissued a “buy” rating and issued a $70.00 target price on shares of Neurogene in a research report on Tuesday, January 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Neurogene in a report on Thursday, January 22nd. Finally, Lifesci Capital started coverage on shares of Neurogene in a research note on Monday, January 26th. They set an “outperform” rating and a $50.00 price target on the stock. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $44.00.

Insider Activity

In related news, insider Stuart Cobb sold 6,797 shares of the firm’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $20.81, for a total transaction of $141,445.57. Following the sale, the insider directly owned 30,497 shares in the company, valued at approximately $634,642.57. This trade represents a 18.23% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Christine Mikail Cvijic sold 4,045 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $20.81, for a total value of $84,176.45. Following the transaction, the chief financial officer directly owned 105,798 shares in the company, valued at $2,201,656.38. This trade represents a 3.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 9.92% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Neurogene

A number of hedge funds have recently bought and sold shares of NGNE. Virtus Investment Advisers LLC increased its holdings in Neurogene by 128.0% during the 4th quarter. Virtus Investment Advisers LLC now owns 12,716 shares of the company’s stock worth $262,000 after purchasing an additional 7,138 shares during the last quarter. Logos Global Management LP acquired a new stake in shares of Neurogene during the fourth quarter worth approximately $4,017,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Neurogene in the fourth quarter worth $575,000. Trexquant Investment LP increased its stake in shares of Neurogene by 9.7% in the fourth quarter. Trexquant Investment LP now owns 43,323 shares of the company’s stock worth $892,000 after buying an additional 3,840 shares during the last quarter. Finally, Blair William & Co. IL raised its holdings in Neurogene by 15.4% in the fourth quarter. Blair William & Co. IL now owns 163,655 shares of the company’s stock valued at $3,371,000 after acquiring an additional 21,835 shares in the last quarter. Institutional investors and hedge funds own 52.37% of the company’s stock.

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.