HC Wainwright Has Lowered Expectations for Neurogene (NASDAQ:NGNE) Stock Price

Neurogene (NASDAQ:NGNE) had its price objective lowered by equities researchers at HC Wainwright from $70.00 to $65.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective suggests a potential upside of 81.56% from the stock’s previous close.

Several other analysts also recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Neurogene in a report on Friday, July 17th. Guggenheim started coverage on Neurogene in a research report on Tuesday, April 28th. They issued a “buy” rating and a $69.00 target price for the company. Rodman & Renshaw started coverage on Neurogene in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $70.00 target price for the company. Finally, UBS Group set a $70.00 target price on Neurogene in a report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Neurogene currently has a consensus rating of “Moderate Buy” and an average target price of $86.00.

Neurogene Stock Down 2.1%

NGNE opened at $35.80 on Wednesday. Neurogene has a 52-week low of $15.93 and a 52-week high of $43.66. The company has a 50 day moving average of $33.54 and a two-hundred day moving average of $26.58. The company has a market cap of $565.64 million, a P/E ratio of -7.87 and a beta of 1.70.

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

Insider Transactions at Neurogene

In other news, CFO Christine Mikail Cvijic sold 4,200 shares of the 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 of the company’s stock, valued at approximately $3,036,365.20. This trade represents a 4.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 9,600 shares of company stock valued at $339,932 over the last 90 days. Corporate insiders own 11.68% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NGNE. Jennison Associates LLC lifted its holdings 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 during the period. Deutsche Bank AG bought a new stake in Neurogene during the second quarter worth approximately $3,354,000. Bank of New York Mellon Corp acquired a new position in shares of Neurogene in the 2nd quarter worth $904,000. Daiwa Securities Group Inc. purchased a new position in Neurogene in the 4th quarter worth about $66,000. Finally, Brevan Howard Capital Management LP acquired a new stake in shares of Neurogene during the third quarter valued at approximately $223,000. 52.37% of the stock is currently 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.