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

Shares of Neurogene Inc. (NASDAQ:NGNE) have been assigned a consensus recommendation of “Buy” from the six research firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $84.8333.

Several research analysts have weighed in on NGNE shares. Rodman & Renshaw started coverage on shares of Neurogene in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $70.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Neurogene in a research note on Tuesday, April 21st. UBS Group set a $70.00 price target on shares of Neurogene in a report on Wednesday, June 3rd. Canaccord Genuity Group dropped their price target on shares of Neurogene to $180.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $70.00 target price on shares of Neurogene in a research report on Tuesday, June 9th.

Neurogene Stock Performance

NASDAQ NGNE opened at $39.63 on Monday. Neurogene has a 1 year low of $15.93 and a 1 year high of $43.66. The business’s fifty day moving average is $30.50 and its two-hundred day moving average is $23.99. The stock has a market capitalization of $626.15 million, a P/E ratio of -8.71 and a beta of 1.68.

Neurogene (NASDAQ:NGNE) last announced its earnings results on Tuesday, May 12th. The company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($1.30) by ($0.09). On average, research analysts forecast that Neurogene will post -5.63 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Christine Mikail Cvijic sold 9,600 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $31.25, for a total value of $300,000.00. Following the transaction, the chief financial officer directly owned 93,640 shares of the company’s stock, valued at approximately $2,926,250. This trade represents a 9.30% decrease in their position. The sale was disclosed in a legal filing 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 sold 19,200 shares of company stock worth $639,932 in the last 90 days. 11.68% of the stock is owned by company insiders.

Institutional Trading of Neurogene

Hedge funds have recently added to or reduced their stakes in the business. Jennison Associates LLC grew its stake in shares of 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 acquiring an additional 138,999 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in Neurogene during the third quarter worth $12,114,000. Blair William & Co. IL raised its stake in Neurogene by 15.4% during the 4th quarter. Blair William & Co. IL now owns 163,655 shares of the company’s stock valued at $3,371,000 after purchasing an additional 21,835 shares during the last quarter. Raiffeisen Bank International AG raised its stake in Neurogene by 23.5% during the 4th quarter. Raiffeisen Bank International AG now owns 42,000 shares of the company’s stock valued at $929,000 after purchasing an additional 8,000 shares during the last quarter. Finally, Trexquant Investment LP boosted its holdings in Neurogene by 9.7% in the 4th quarter. Trexquant Investment LP now owns 43,323 shares of the company’s stock valued at $892,000 after purchasing an additional 3,840 shares during the period. 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.