Brokerages Set Neurogene Inc. (NASDAQ:NGNE) Target Price at $46.20

Neurogene Inc. (NASDAQ:NGNE) has received an average rating of “Buy” from the seven brokerages that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $43.40.

A number of analysts recently issued reports on the company. William Blair reiterated an “outperform” rating on shares of Neurogene in a research note on Tuesday, March 25th. HC Wainwright decreased their price objective on Neurogene from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday. Robert W. Baird lowered Neurogene from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $38.00 to $24.00 in a research note on Friday. Finally, BMO Capital Markets decreased their price objective on Neurogene from $45.00 to $16.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th.

Neurogene Price Performance

Shares of NGNE opened at $17.99 on Wednesday. The firm has a market cap of $256.57 million, a PE ratio of -4.14 and a beta of 1.56. The stock’s fifty day moving average price is $13.49 and its two-hundred day moving average price is $20.64. Neurogene has a 1 year low of $6.88 and a 1 year high of $74.49.

Neurogene (NASDAQ:NGNE) last issued its earnings results on Friday, May 9th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.05) by ($0.03). Sell-side analysts anticipate that Neurogene will post -4.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Stuart Cobb sold 6,797 shares of the business’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $15.15, for a total value of $102,974.55. Following the completion of the sale, the insider now owns 20,794 shares of the company’s stock, valued at approximately $315,029.10. The trade was a 24.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Christine Mikail Cvijic sold 4,501 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $16.94, for a total value of $76,246.94. Following the completion of the sale, the chief financial officer now directly owns 72,343 shares of the company’s stock, valued at approximately $1,225,490.42. This trade represents a 5.86% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 11.64% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Corebridge Financial Inc. raised its position in Neurogene by 13.8% during the 1st quarter. Corebridge Financial Inc. now owns 5,826 shares of the company’s stock valued at $68,000 after purchasing an additional 705 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Neurogene by 9.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 11,231 shares of the company’s stock valued at $132,000 after purchasing an additional 941 shares during the last quarter. Virtus ETF Advisers LLC raised its position in Neurogene by 45.1% during the 4th quarter. Virtus ETF Advisers LLC now owns 3,183 shares of the company’s stock valued at $73,000 after purchasing an additional 989 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Neurogene by 17.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,983 shares of the company’s stock valued at $82,000 after purchasing an additional 1,059 shares during the last quarter. Finally, Rhumbline Advisers raised its position in Neurogene by 9.2% during the 4th quarter. Rhumbline Advisers now owns 15,704 shares of the company’s stock valued at $359,000 after purchasing an additional 1,326 shares during the last quarter. Institutional investors own 52.37% of the company’s stock.

Neurogene Company Profile

Neurogene Inc, a biotechnology company, develops genetic medicines for rare neurological diseases. The company's product candidates include NGN-401 which is packaged in an adeno-associated virus 9 that is in Phase 1/2 clinical trial for the treatment of Rett syndrome; and NGN-101, a conventional gene therapy candidate that is in Phase 1/2 clinical trial to treat CLN5 Batten disease.