Neurogene Inc. (NASDAQ:NGNE) Receives Average Recommendation of “Buy” from Analysts

Shares of Neurogene Inc. (NASDAQ:NGNE) have been given an average recommendation of “Buy” by the six ratings firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have issued a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $84.8333.

NGNE has been the topic of a number of recent research reports. HC Wainwright restated a “buy” rating and issued a $70.00 target price on shares of Neurogene in a research note on Tuesday, June 9th. UBS Group set a $70.00 target price on Neurogene in a research note on Wednesday, June 3rd. Guggenheim began coverage on Neurogene in a research report on Tuesday, April 28th. They set a “buy” rating and a $69.00 price target on the stock. Rodman & Renshaw began coverage on Neurogene in a research report on Wednesday, June 3rd. They set a “buy” rating and a $70.00 price target on the stock. Finally, Canaccord Genuity Group lowered their price target on Neurogene to $180.00 and set a “buy” rating on the stock in a research report on Monday, April 6th.

Neurogene Stock Up 4.9%

Shares of NGNE opened at $30.79 on Thursday. Neurogene has a 52 week low of $14.65 and a 52 week high of $37.27. The company has a market capitalization of $486.48 million, a price-to-earnings ratio of -6.77 and a beta of 1.69. The stock’s 50-day moving average price is $27.32 and its 200-day moving average price is $22.36.

Neurogene (NASDAQ:NGNE) last issued its earnings results on Tuesday, May 12th. The company reported ($1.39) EPS for the quarter, missing analysts’ consensus estimates of ($1.30) by ($0.09). As a group, equities analysts anticipate that Neurogene will post -5.63 EPS for the current fiscal year.

Insider Transactions at Neurogene

In other Neurogene news, CFO Christine Mikail Cvijic sold 9,600 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $31.25, for a total transaction of $300,000.00. Following the transaction, the chief financial officer owned 93,640 shares in the company, valued at approximately $2,926,250. This represents a 9.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 11.68% of the company’s stock.

Hedge Funds Weigh In On Neurogene

Hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its position 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 purchasing an additional 978 shares in the last quarter. Daiwa Securities Group Inc. purchased a new position in Neurogene during the fourth quarter worth approximately $66,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Neurogene by 17.9% during the first 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 in the last quarter. PNC Financial Services Group Inc. boosted its position in Neurogene by 24.7% during the third quarter. PNC Financial Services Group Inc. now owns 5,055 shares of the company’s stock worth $88,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Neurogene during the fourth quarter worth approximately $165,000. Hedge funds and other institutional investors own 52.37% of the company’s stock.

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.