Neurogene Inc. (NASDAQ:NGNE) Receives $84.83 Consensus PT from Analysts

Neurogene Inc. (NASDAQ:NGNE) has received a consensus recommendation of “Buy” from the six brokerages that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $84.8333.

NGNE has been the topic of several recent research reports. HC Wainwright reissued a “buy” rating and issued a $70.00 price objective on shares of Neurogene in a research note on Tuesday, June 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Neurogene in a research report on Tuesday, April 21st. Rodman & Renshaw started coverage on shares of Neurogene in a research note on Wednesday, June 3rd. They set a “buy” rating and a $70.00 price objective for the company. Canaccord Genuity Group cut their price objective on Neurogene to $180.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Finally, Guggenheim initiated coverage on Neurogene in a research note on Tuesday, April 28th. They issued a “buy” rating and a $69.00 target price on the stock.

Insider Buying and Selling at Neurogene

In other news, CFO Christine Mikail Cvijic sold 9,600 shares of the business’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $31.25, for a total value of $300,000.00. Following the completion of the transaction, the chief financial officer directly owned 93,640 shares of the company’s stock, valued at $2,926,250. The trade was a 9.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 valued at $639,932 over the last ninety days. Insiders own 11.68% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NGNE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Neurogene by 17.9% during the first 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 in the last quarter. Bank of America Corp DE boosted its position in Neurogene by 81.6% during the second quarter. Bank of America Corp DE now owns 95,401 shares of the company’s stock worth $1,426,000 after acquiring an additional 42,880 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Neurogene by 89.8% during the third quarter. BNP Paribas Financial Markets now owns 2,067 shares of the company’s stock worth $36,000 after acquiring an additional 978 shares during the last quarter. Bridgeway Capital Management LLC purchased a new stake in Neurogene in the 3rd quarter worth approximately $187,000. Finally, Balyasny Asset Management L.P. acquired a new position in Neurogene in the 3rd quarter valued at $12,114,000. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Neurogene Stock Performance

Neurogene stock opened at $37.31 on Monday. Neurogene has a fifty-two week low of $15.93 and a fifty-two week high of $43.66. The stock has a 50-day simple moving average of $31.32 and a 200-day simple moving average of $24.60. The company has a market capitalization of $589.50 million, a P/E ratio of -8.20 and a beta of 1.68.

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 the consensus estimate of ($1.30) by ($0.09). As a group, analysts forecast that Neurogene will post -5.63 earnings per share for the current year.

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.