Neurogene Inc. (NASDAQ:NGNE) Receives Average Rating of “Buy” from Analysts

Neurogene Inc. (NASDAQ:NGNE) has earned a consensus rating of “Buy” from the six brokerages that are presently covering the stock, Marketbeat.com 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 analysts that have issued ratings on the stock in the last year is $84.8333.

NGNE has been the topic of a number of analyst reports. Rodman & Renshaw initiated coverage on Neurogene in a research report on Wednesday, June 3rd. They set a “buy” rating and a $70.00 target price on the stock. HC Wainwright reissued a “buy” rating and issued a $70.00 price target on shares of Neurogene in a report on Tuesday, June 9th. Guggenheim assumed coverage on Neurogene in a research note on Tuesday, April 28th. They set a “buy” rating and a $69.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Neurogene in a report on Friday, July 17th. Finally, UBS Group set a $70.00 target price on Neurogene in a research report on Wednesday, June 3rd.

Insider Buying and Selling

In other Neurogene news, CFO Christine Mikail Cvijic sold 4,200 shares of the stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $36.13, for a total transaction of $151,746.00. Following the transaction, the chief financial officer directly owned 84,040 shares in the company, valued at $3,036,365.20. This represents a 4.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 9,600 shares of company stock worth $339,932. Corporate insiders own 11.68% of the company’s stock.

Institutional Investors Weigh In On Neurogene

Hedge funds and other institutional investors have recently modified their holdings of the stock. Balyasny Asset Management L.P. acquired a new stake in shares of Neurogene in the 3rd quarter valued at about $12,114,000. Jennison Associates LLC grew its stake in Neurogene by 35.3% in the fourth quarter. Jennison Associates LLC now owns 533,088 shares of the company’s stock worth $10,982,000 after purchasing an additional 138,999 shares in the last quarter. State Street Corp grew its stake in Neurogene by 47.8% in the fourth quarter. State Street Corp now owns 307,797 shares of the company’s stock worth $6,341,000 after purchasing an additional 99,487 shares in the last quarter. Geode Capital Management LLC increased its holdings in Neurogene by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 249,695 shares of the company’s stock valued at $5,145,000 after buying an additional 3,262 shares during the last quarter. Finally, Logos Global Management LP bought a new stake in Neurogene in the fourth quarter valued at about $4,017,000. Institutional investors own 52.37% of the company’s stock.

Neurogene Stock Performance

NGNE stock opened at $35.60 on Friday. The firm has a market cap of $562.48 million, a P/E ratio of -7.82 and a beta of 1.70. Neurogene has a 1 year low of $15.93 and a 1 year high of $43.66. The stock has a 50-day simple moving average of $33.02 and a 200-day simple moving average of $26.20.

Neurogene (NASDAQ:NGNE) last released its quarterly 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.

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.