Neurogene (NASDAQ:NGNE) Releases Quarterly Earnings Results

Neurogene (NASDAQ:NGNE) posted its quarterly earnings data on Tuesday. The company reported ($1.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.30) by ($0.09), Zacks reports.

Neurogene Stock Performance

NASDAQ NGNE traded up $0.65 during trading hours on Tuesday, hitting $31.54. The company had a trading volume of 103,482 shares, compared to its average volume of 167,081. The business has a 50 day moving average of $23.48 and a 200-day moving average of $22.06. The company has a market cap of $492.65 million, a PE ratio of -7.44 and a beta of 1.69. Neurogene has a 1-year low of $14.65 and a 1-year high of $37.27.

Insider Transactions at Neurogene

In related news, insider Stuart Cobb sold 6,797 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $20.81, for a total transaction of $141,445.57. Following the transaction, the insider owned 30,497 shares in the company, valued at $634,642.57. This trade represents a 18.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Christine Mikail Cvijic sold 9,600 shares of the stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $31.25, for a total transaction of $300,000.00. Following the sale, the chief financial officer owned 93,640 shares of the company’s stock, valued at $2,926,250. This trade represents a 9.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 20,442 shares of company stock worth $525,622 in the last quarter. Insiders own 9.92% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets boosted its holdings in Neurogene by 89.8% in the third quarter. BNP Paribas Financial Markets now owns 2,067 shares of the company’s stock valued at $36,000 after acquiring an additional 978 shares during the last quarter. Daiwa Securities Group Inc. acquired a new stake in Neurogene during the fourth quarter worth about $66,000. 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 purchasing an additional 1,059 shares during the period. Bridgeway Capital Management LLC purchased a new stake in shares of Neurogene during the 3rd quarter worth about $187,000. Finally, Wells Fargo & Company MN increased its position in Neurogene by 45.2% during the 4th quarter. Wells Fargo & Company MN now owns 11,037 shares of the company’s stock worth $227,000 after purchasing an additional 3,438 shares in the last quarter. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NGNE. Lifesci Capital initiated coverage on Neurogene in a report on Monday, January 26th. They set an “outperform” rating and a $50.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $70.00 target price on shares of Neurogene in a report on Tuesday, January 13th. Guggenheim started coverage on shares of Neurogene in a report on Tuesday, April 28th. They set a “buy” rating and a $69.00 price target for the company. Canaccord Genuity Group dropped their price objective on shares of Neurogene to $180.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Neurogene in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Neurogene presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

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.