Rodman & Renshaw Upgrades Neurogene (NASDAQ:NGNE) to “Strong-Buy”

Neurogene (NASDAQ:NGNE) was upgraded by research analysts at Rodman & Renshaw to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other equities analysts have also weighed in on NGNE. Canaccord Genuity Group lowered their price objective on shares of Neurogene to $180.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Guggenheim assumed coverage on shares of Neurogene in a research report on Tuesday, April 28th. They issued a “buy” rating and a $69.00 price objective on the stock. Weiss Ratings reiterated 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 shares of Neurogene in a research report on Wednesday. Two 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 data from MarketBeat.com, Neurogene presently has an average rating of “Buy” and an average target price of $73.13.

Neurogene Price Performance

NASDAQ:NGNE opened at $27.48 on Wednesday. The firm’s fifty day moving average price is $25.85 and its 200 day moving average price is $21.85. Neurogene has a 1-year low of $14.65 and a 1-year high of $37.27. The firm has a market cap of $434.18 million, a price-to-earnings ratio of -6.04 and a beta of 1.69.

Neurogene (NASDAQ:NGNE) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($1.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.30) by ($0.09). As a group, analysts expect that Neurogene will post -5.74 earnings per share for the current fiscal year.

Insider Buying and Selling at Neurogene

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 shares were sold at an average price of $31.25, for a total transaction of $300,000.00. Following the sale, the chief financial officer directly 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $141,445.57. Following the sale, the insider owned 30,497 shares in the company, valued at $634,642.57. The trade was a 18.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 20,442 shares of company stock worth $525,622 over the last 90 days. Insiders own 11.68% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jennison Associates LLC raised its stake in shares of Neurogene by 35.3% during the 4th quarter. Jennison Associates LLC now owns 533,088 shares of the company’s stock worth $10,982,000 after buying an additional 138,999 shares during the last quarter. Brevan Howard Capital Management LP acquired a new position in shares of Neurogene during the 3rd quarter worth $223,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 buying an additional 1,059 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of Neurogene during the 4th quarter worth $66,000. Finally, BNP Paribas Financial Markets raised its stake in shares of 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 buying an additional 978 shares during 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.