Neurogene (NASDAQ:NGNE) Given New $180.00 Price Target at Canaccord Genuity Group

Neurogene (NASDAQ:NGNE) had its price objective lowered by Canaccord Genuity Group to $180.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts also recently weighed in on NGNE. Wall Street Zen downgraded shares of Neurogene from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Neurogene in a report on Thursday, January 22nd. HC Wainwright reaffirmed a “buy” rating and issued a $70.00 price target on shares of Neurogene in a research note on Tuesday, January 13th. Finally, Lifesci Capital began coverage on shares of Neurogene in a research note on Monday, January 26th. They issued an “outperform” rating and a $50.00 price target on the stock. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Neurogene has a consensus rating of “Moderate Buy” and a consensus target price of $66.67.

Neurogene Trading Down 1.1%

Shares of NGNE opened at $20.47 on Monday. Neurogene has a twelve month low of $6.88 and a twelve month high of $37.27. The company has a market cap of $318.80 million, a P/E ratio of -4.83 and a beta of 1.56. The company’s fifty day simple moving average is $19.78 and its 200-day simple moving average is $21.78.

Neurogene (NASDAQ:NGNE) last announced its earnings results on Tuesday, March 24th. The company reported ($1.12) earnings per share for the quarter, beating the consensus estimate of ($1.20) by $0.08. Analysts predict that Neurogene will post -4.27 earnings per share for the current fiscal year.

Insider Activity

In other Neurogene news, CFO Christine Mikail Cvijic sold 4,045 shares of the stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $20.81, for a total transaction of $84,176.45. Following the transaction, the chief financial officer directly owned 105,798 shares in the company, valued at $2,201,656.38. This represents a 3.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stuart Cobb sold 6,797 shares of the stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $20.81, for a total transaction of $141,445.57. Following the transaction, the insider owned 30,497 shares in the company, valued at approximately $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. 11.64% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NGNE. BNP Paribas Financial Markets grew its holdings 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 in the last quarter. Daiwa Securities Group Inc. bought a new position in Neurogene during the 4th quarter worth about $66,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings 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 worth $82,000 after acquiring an additional 1,059 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Neurogene by 24.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,055 shares of the company’s stock worth $88,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Neurogene during the 4th quarter worth about $165,000. 52.37% of the stock is currently owned by institutional investors.

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.