Neurogene Inc. (NASDAQ:NGNE) Receives $83.67 Consensus Price Target from Analysts

Shares of Neurogene Inc. (NASDAQ:NGNE) have been assigned an average rating of “Moderate Buy” from the six analysts that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $83.6667.

Several equities research analysts have recently commented on NGNE shares. Guggenheim lifted their target price on Neurogene from $69.00 to $81.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Canaccord Genuity Group cut their price target on Neurogene from $180.00 to $166.00 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. Rodman & Renshaw initiated coverage on Neurogene in a report on Wednesday, June 3rd. They issued a “buy” rating and a $70.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Neurogene in a research report on Friday, July 17th. Finally, UBS Group set a $70.00 price objective on Neurogene in a report on Wednesday, June 3rd.

Insider Activity at Neurogene

In related news, CFO Christine Cvijic sold 4,200 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer directly owned 84,040 shares of the company’s stock, valued at $3,036,365.20. The trade was a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 9,600 shares of company stock worth $339,932. 11.68% of the stock is owned by insiders.

Hedge Funds Weigh In On Neurogene

A number of hedge funds and other institutional investors have recently bought and sold shares of NGNE. State of Wyoming bought a new stake in shares of Neurogene during the 2nd quarter valued at $31,000. Legal & General Group Plc bought a new position in shares of Neurogene in the 2nd quarter worth $35,000. BNP Paribas Financial Markets grew its stake in shares of 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 purchasing an additional 978 shares during the period. Daiwa Securities Group Inc. acquired a new stake in shares of Neurogene during the fourth quarter worth $66,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Neurogene by 17.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,983 shares of the company’s stock valued at $82,000 after purchasing an additional 1,059 shares during the last quarter. 52.37% of the stock is owned by institutional investors.

Neurogene Price Performance

NGNE opened at $38.60 on Tuesday. The stock has a market capitalization of $772.39 million, a P/E ratio of -7.67 and a beta of 1.69. The company’s 50 day simple moving average is $36.60 and its 200-day simple moving average is $29.25. Neurogene has a one year low of $15.93 and a one year high of $43.66.

Neurogene (NASDAQ:NGNE) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($1.53) earnings per share for the quarter, missing the consensus estimate of ($1.42) by ($0.11). As a group, analysts anticipate that Neurogene will post -5.62 EPS 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.