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

Shares of Neurogene Inc. (NASDAQ:NGNE) have been assigned an average recommendation of “Buy” from the six brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have given a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $84.8333.

A number of equities research analysts have recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $70.00 price target on shares of Neurogene in a report on Tuesday, June 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Neurogene in a report on Tuesday, April 21st. Guggenheim initiated coverage on Neurogene in a research report on Tuesday, April 28th. They issued a “buy” rating and a $69.00 target price on the stock. Canaccord Genuity Group cut their target price on Neurogene to $180.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Finally, UBS Group set a $70.00 price target on Neurogene in a research report on Wednesday, June 3rd.

Neurogene Price Performance

NGNE opened at $39.63 on Monday. Neurogene has a 12-month low of $15.93 and a 12-month high of $43.66. The stock has a market capitalization of $626.15 million, a PE ratio of -8.71 and a beta of 1.68. The firm’s fifty day moving average price is $30.50 and its 200 day moving average price is $23.99.

Neurogene (NASDAQ:NGNE) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.30) by ($0.09). On average, equities research analysts forecast that Neurogene will post -5.63 earnings per share for the current fiscal year.

Insider Activity at Neurogene

In related news, CFO Christine Mikail Cvijic sold 9,600 shares of Neurogene stock in a transaction dated 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 $2,926,250. The trade was a 9.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 19,200 shares of company stock worth $639,932 over the last quarter. 11.68% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Neurogene

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted 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 valued at $36,000 after buying an additional 978 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in Neurogene in the 4th quarter valued at about $66,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings 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 acquiring an additional 1,059 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Neurogene during the 4th quarter valued at about $165,000. Finally, Bridgeway Capital Management LLC bought a new position in shares of Neurogene during the 3rd quarter valued at about $187,000. 52.37% of the stock is owned by institutional investors.

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.