Brokerages Set Neurogene Inc. (NASDAQ:NGNE) Price Target at $44.00

Shares of Neurogene Inc. (NASDAQ:NGNE) have earned an average rating of “Moderate Buy” from the seven analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $66.6667.

A number of research analysts have recently commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Neurogene in a research report on Thursday, January 22nd. Lifesci Capital assumed coverage on shares of Neurogene in a research report on Monday, January 26th. They set an “outperform” rating and a $50.00 price target for the company. HC Wainwright restated a “buy” rating and set a $70.00 price target on shares of Neurogene in a research report on Tuesday, January 13th. Canaccord Genuity Group reduced their price target on shares of Neurogene to $180.00 and set a “buy” rating for the company in a research report on Monday. Finally, Wall Street Zen lowered shares of Neurogene from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th.

Insiders Place Their Bets

In other news, CFO Christine Mikail Cvijic sold 4,045 shares of the business’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $20.81, for a total transaction of $84,176.45. Following the completion of the transaction, the chief financial officer directly owned 105,798 shares in the company, valued at $2,201,656.38. The trade was a 3.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Stuart Cobb sold 6,797 shares of the business’s stock in a transaction on Friday, March 13th. The shares were 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 of the company’s stock, valued at $634,642.57. This trade represents 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 insiders.

Institutional Trading of Neurogene

Hedge funds have recently made changes to their positions in the stock. Schroder Investment Management Group bought a new stake in shares of Neurogene during the 2nd quarter worth $451,000. Brevan Howard Capital Management LP bought a new stake in shares of Neurogene during the 3rd quarter worth $223,000. Bridgeway Capital Management LLC bought a new stake in shares of Neurogene during the 3rd quarter worth $187,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of 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 during the last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Neurogene during the 4th quarter worth $66,000. 52.37% of the stock is owned by institutional investors.

Neurogene Trading Down 1.1%

Neurogene stock opened at $20.47 on Friday. Neurogene has a 1-year low of $6.88 and a 1-year high of $37.27. The firm has a market capitalization of $318.80 million, a price-to-earnings ratio of -4.83 and a beta of 1.56. The firm has a 50 day simple moving average of $19.78 and a 200 day simple moving average of $21.78.

Neurogene (NASDAQ:NGNE) last released its quarterly earnings results on Tuesday, March 24th. The company reported ($1.12) EPS for the quarter, beating analysts’ consensus estimates of ($1.20) by $0.08. On average, equities research analysts forecast that Neurogene will post -4.27 EPS for the current year.

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.