Canaccord Genuity Group Has Lowered Expectations for Neurogene (NASDAQ:NGNE) Stock Price

Neurogene (NASDAQ:NGNE) had its price objective dropped by analysts at Canaccord Genuity Group from $180.00 to $166.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 347.68% from the stock’s previous close.

A number of other analysts also recently weighed in on the stock. Rodman & Renshaw started coverage on shares of Neurogene in a research report on Wednesday, June 3rd. They set a “buy” rating and a $70.00 target price for the company. HC Wainwright dropped their price target on shares of Neurogene from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday. UBS Group set a $70.00 price objective on shares of Neurogene in a research note on Wednesday, June 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Neurogene in a report on Friday, July 17th. Finally, Guggenheim lifted their price objective on Neurogene from $69.00 to $81.00 and gave the stock a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $83.67.

Neurogene Stock Up 3.6%

Shares of NASDAQ NGNE traded up $1.28 during trading on Wednesday, reaching $37.08. The company had a trading volume of 76,637 shares, compared to its average volume of 184,608. The stock has a market cap of $585.86 million, a P/E ratio of -8.15 and a beta of 1.70. The company’s fifty day moving average price is $33.54 and its 200-day moving average price is $26.58. Neurogene has a 12 month low of $15.93 and a 12 month high of $43.66.

Neurogene (NASDAQ:NGNE) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($1.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.42) by ($0.11). As a group, equities analysts predict that Neurogene will post -5.63 earnings per share for the current year.

Insider Buying and Selling at Neurogene

In other news, CFO Christine Mikail Cvijic sold 4,200 shares of the company’s stock in a transaction dated 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 owned 84,040 shares in the company, valued at approximately $3,036,365.20. This represents a 4.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 9,600 shares of company stock worth $339,932 in the last quarter. 11.68% of the stock is currently owned by corporate insiders.

Institutional Trading of Neurogene

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its holdings 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 valued at $36,000 after buying an additional 978 shares during the last quarter. State of Wyoming acquired a new stake in shares of Neurogene in the 2nd quarter worth about $31,000. ADAR1 Capital Management LLC raised its holdings in shares of Neurogene by 3.4% in the 3rd quarter. ADAR1 Capital Management LLC now owns 30,633 shares of the company’s stock worth $531,000 after acquiring an additional 1,008 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Neurogene by 17.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,983 shares of the company’s stock worth $82,000 after acquiring an additional 1,059 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Neurogene by 12.8% in the 1st quarter. Bank of New York Mellon Corp now owns 26,043 shares of the company’s stock valued at $525,000 after acquiring an additional 2,950 shares in the last quarter. 52.37% of the stock is owned by institutional investors.

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.