Neurogene Inc. (NASDAQ:NGNE) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Neurogene Inc. (NASDAQ:NGNE) have been given an average recommendation of “Moderate Buy” by the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $74.1667.

A number of brokerages have recently commented on NGNE. Lifesci Capital began coverage on shares of Neurogene in a research report on Monday, January 26th. They issued an “outperform” rating and a $50.00 price objective for the company. Canaccord Genuity Group decreased their price objective on shares of Neurogene to $180.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Guggenheim began coverage on shares of Neurogene in a research report on Tuesday, April 28th. They issued a “buy” rating and a $69.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Neurogene in a research report on Tuesday, April 21st.

Neurogene Stock Up 0.4%

Shares of NGNE stock opened at $27.71 on Friday. The firm has a fifty day moving average of $24.65 and a 200-day moving average of $21.97. Neurogene has a 12-month low of $14.65 and a 12-month high of $37.27. The company has a market capitalization of $437.82 million, a price-to-earnings ratio of -6.09 and a beta of 1.69.

Neurogene (NASDAQ:NGNE) last released its earnings results on Tuesday, May 12th. The company reported ($1.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.30) by ($0.09). On average, equities analysts expect that Neurogene will post -5.74 EPS for the current year.

Insider Transactions at Neurogene

In other news, insider Stuart Cobb sold 6,797 shares of Neurogene stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $20.81, for a total value of $141,445.57. Following the completion of 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Christine Mikail Cvijic sold 9,600 shares of Neurogene stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $31.25, for a total transaction 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 approximately $2,926,250. This trade represents a 9.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 20,442 shares of company stock valued at $525,622. Insiders own 11.68% of the company’s stock.

Institutional Trading of Neurogene

A number of hedge funds have recently modified their holdings of NGNE. BNP Paribas Financial Markets lifted its stake in shares of 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 buying an additional 978 shares during the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Neurogene during the 4th quarter worth about $66,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake 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 buying an additional 1,059 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of 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 buying an additional 1,000 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Neurogene during the 4th quarter worth about $165,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

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.