Neurogene Inc. (NASDAQ:NGNE) Given Consensus Recommendation of “Buy” by Analysts

Neurogene Inc. (NASDAQ:NGNE) has been given an average recommendation of “Buy” by the six analysts that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $84.8333.

Several equities research analysts have commented on NGNE shares. HC Wainwright reissued a “buy” rating and issued a $70.00 target price on shares of Neurogene in a report on Tuesday, June 9th. Rodman & Renshaw initiated coverage on Neurogene in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $70.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Neurogene in a research note on Tuesday, April 21st. UBS Group set a $70.00 price target on Neurogene in a research note on Wednesday, June 3rd. Finally, Guggenheim initiated coverage on Neurogene in a research note on Tuesday, April 28th. They issued a “buy” rating and a $69.00 price target for the company.

Neurogene Trading Up 2.3%

Neurogene stock opened at $32.25 on Thursday. The business’s fifty day simple moving average is $27.95 and its two-hundred day simple moving average is $22.60. Neurogene has a 12 month low of $14.65 and a 12 month high of $37.27. The company has a market capitalization of $509.55 million, a price-to-earnings ratio of -7.09 and a beta of 1.69.

Neurogene (NASDAQ:NGNE) last released its earnings results on Tuesday, May 12th. The company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($1.30) by ($0.09). On average, equities research analysts predict that Neurogene will post -5.63 EPS for the current year.

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 owned 93,640 shares in the company, valued at $2,926,250. The trade was a 9.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NGNE. BNP Paribas Financial Markets raised its stake in shares of Neurogene by 89.8% in the third quarter. BNP Paribas Financial Markets now owns 2,067 shares of the company’s stock worth $36,000 after purchasing an additional 978 shares during the last quarter. Daiwa Securities Group Inc. purchased a new position in shares of Neurogene in the fourth quarter worth $66,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Neurogene by 17.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,983 shares of the company’s stock worth $82,000 after purchasing an additional 1,059 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Neurogene by 24.7% in the third quarter. PNC Financial Services Group Inc. now owns 5,055 shares of the company’s stock worth $88,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Neurogene during the fourth quarter valued at $165,000. Hedge funds and other institutional investors own 52.37% of the company’s stock.

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.