Canaccord Genuity Group Cuts Neurogene (NASDAQ:NGNE) Price Target to $180.00

Neurogene (NASDAQ:NGNE) had its price objective reduced by equities researchers at Canaccord Genuity Group from $200.00 to $180.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock.

Several other research firms have also recently weighed in on NGNE. Wall Street Zen cut Neurogene from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. HC Wainwright restated a “buy” rating and issued a $70.00 price target on shares of Neurogene in a research report on Tuesday, January 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Neurogene in a research report on Thursday, January 22nd. Finally, Lifesci Capital started coverage on shares of Neurogene in a research note on Monday, January 26th. They issued an “outperform” rating and a $50.00 target price for the company. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Neurogene currently has an average rating of “Moderate Buy” and a consensus price target of $66.67.

Neurogene Stock Up 1.8%

NGNE stock traded up $0.38 during mid-day trading on Monday, reaching $21.07. 17,542 shares of the stock traded hands, compared to its average volume of 164,034. Neurogene has a 52 week low of $6.88 and a 52 week high of $37.27. The business has a 50-day moving average of $19.75 and a two-hundred day moving average of $21.77. The firm has a market capitalization of $328.01 million, a PE ratio of -4.98 and a beta of 1.56.

Neurogene (NASDAQ:NGNE) last posted its quarterly earnings data on Tuesday, March 24th. The company reported ($1.12) earnings per share for the quarter, topping the consensus estimate of ($1.20) by $0.08. On average, equities research analysts anticipate that Neurogene will post -4.27 EPS for the current fiscal year.

Insider Activity at Neurogene

In other Neurogene news, insider Stuart Cobb sold 6,797 shares of the company’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $20.81, for a total value of $141,445.57. Following the sale, the insider directly owned 30,497 shares in the company, valued at $634,642.57. This represents a 18.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Christine Mikail Cvijic sold 4,045 shares of the stock in a transaction on Friday, March 13th. The stock was sold at an average price of $20.81, for a total value of $84,176.45. Following the transaction, the chief financial officer owned 105,798 shares of the company’s stock, valued at $2,201,656.38. This represents a 3.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 11.64% of the company’s stock.

Institutional Investors Weigh In On Neurogene

Several large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets grew its stake in 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 buying an additional 978 shares during the last quarter. Daiwa Securities Group Inc. bought a new stake in Neurogene during the 4th quarter worth approximately $66,000. PNC Financial Services Group Inc. grew its position in 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 acquiring an additional 1,000 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Neurogene by 17.9% during the 1st 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 in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Neurogene in the 4th quarter valued at $165,000. 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.