Neurogene (NASDAQ:NGNE) Posts Earnings Results, Misses Estimates By $0.11 EPS

Neurogene (NASDAQ:NGNE) issued its quarterly earnings results on Tuesday. The company reported ($1.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.42) by ($0.11), FiscalAI reports.

Neurogene Stock Up 3.7%

Shares of NASDAQ:NGNE traded up $1.31 during midday trading on Wednesday, reaching $37.11. 37,052 shares of the company traded hands, compared to its average volume of 184,330. Neurogene has a 12 month low of $15.93 and a 12 month high of $43.66. The firm has a market capitalization of $586.34 million, a price-to-earnings ratio of -8.06 and a beta of 1.70. The firm’s fifty day moving average price is $33.54 and its two-hundred day moving average price is $26.58.

Insider Buying and Selling

In other Neurogene news, CFO Christine Mikail Cvijic sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $36.13, for a total value of $151,746.00. Following the completion of the transaction, the chief financial officer owned 84,040 shares in the company, valued at $3,036,365.20. This trade represents a 4.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 9,600 shares of company stock valued at $339,932. 11.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On Neurogene

A number of large investors have recently modified their holdings of 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 during the period. ADAR1 Capital Management LLC increased its stake in Neurogene by 3.4% in the 3rd quarter. ADAR1 Capital Management LLC now owns 30,633 shares of the company’s stock worth $531,000 after acquiring an additional 1,008 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings 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 valued at $82,000 after acquiring an additional 1,059 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of Neurogene in the 4th quarter valued at about $66,000. Finally, Geode Capital Management LLC boosted its position in shares of Neurogene by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 249,695 shares of the company’s stock valued at $5,145,000 after acquiring an additional 3,262 shares during the last quarter. 52.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on NGNE. HC Wainwright lowered their price objective on shares of Neurogene from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday. UBS Group set a $70.00 price target on shares of Neurogene in a research note on Wednesday, June 3rd. Guggenheim lifted their price target on shares of Neurogene from $69.00 to $81.00 and gave the stock a “buy” rating in a report on Wednesday. Rodman & Renshaw began coverage on Neurogene in a report on Wednesday, June 3rd. They set a “buy” rating and a $70.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Neurogene in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Neurogene currently has an average rating of “Moderate Buy” and a consensus price target of $86.00.

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.