Neurogene (NASDAQ:NGNE) Upgraded by Rodman & Renshaw to “Strong-Buy” Rating

Rodman & Renshaw upgraded shares of Neurogene (NASDAQ:NGNE) to a strong-buy rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

A number of other research analysts have also issued reports on NGNE. Canaccord Genuity Group reduced their price objective on Neurogene to $180.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Guggenheim began coverage on Neurogene in a research report on Tuesday, April 28th. They set a “buy” rating and a $69.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Neurogene in a research report on Tuesday, April 21st. Finally, UBS Group set a $70.00 price objective on Neurogene in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Neurogene has a consensus rating of “Buy” and an average price target of $73.13.

Neurogene Trading Up 4.8%

Shares of NGNE opened at $27.48 on Wednesday. The firm has a market cap of $434.18 million, a price-to-earnings ratio of -6.04 and a beta of 1.69. The stock has a 50 day moving average of $25.85 and a 200-day moving average of $21.85. Neurogene has a 52 week low of $14.65 and a 52 week high of $37.27.

Neurogene (NASDAQ:NGNE) last released its quarterly earnings data 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 predict that Neurogene will post -5.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Neurogene news, CFO Christine Mikail Cvijic sold 9,600 shares of the business’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 transaction, the chief financial officer owned 93,640 shares in the company, valued at approximately $2,926,250. The trade was a 9.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stuart Cobb sold 6,797 shares of the business’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $20.81, for a total value of $141,445.57. Following the transaction, the insider owned 30,497 shares of the company’s stock, valued at $634,642.57. This trade represents a 18.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 20,442 shares of company stock valued at $525,622 in the last quarter. 11.68% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NGNE. BNP Paribas Financial Markets boosted 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 acquiring an additional 978 shares during the period. Daiwa Securities Group Inc. bought a new stake in shares of Neurogene in the 4th quarter worth $66,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Neurogene by 17.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,983 shares of the company’s stock worth $82,000 after buying an additional 1,059 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Neurogene by 24.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,055 shares of the company’s stock worth $88,000 after buying an additional 1,000 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Neurogene in the 4th quarter worth $165,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

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.