Neurogene (NASDAQ:NGNE) Earns “Buy” Rating from HC Wainwright

Neurogene (NASDAQ:NGNE)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a report released on Tuesday, MarketBeat reports. They presently have a $70.00 price objective on the stock. HC Wainwright’s price objective points to a potential upside of 144.76% from the stock’s current price.

NGNE has been the topic of a number of other reports. UBS Group set a $70.00 target price on shares of Neurogene in a research note on Wednesday, June 3rd. Guggenheim assumed coverage on shares of Neurogene in a research note on Tuesday, April 28th. They issued a “buy” rating and a $69.00 target price on the stock. Canaccord Genuity Group decreased their target price on shares of Neurogene to $180.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Rodman & Renshaw assumed coverage on shares of Neurogene in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $70.00 target price on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Neurogene in a research note on Tuesday, April 21st. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $73.13.

Neurogene Trading Up 8.0%

NASDAQ:NGNE opened at $28.60 on Tuesday. The company’s 50-day moving average price is $26.09 and its 200-day moving average price is $21.93. Neurogene has a twelve month low of $14.65 and a twelve month high of $37.27. The company has a market cap of $451.94 million, a P/E ratio of -6.29 and a beta of 1.69.

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

Insider Activity at Neurogene

In other news, insider Stuart Cobb sold 6,797 shares of Neurogene stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $20.81, for a total transaction of $141,445.57. Following the sale, the insider owned 30,497 shares of the company’s stock, valued at approximately $634,642.57. The trade was a 18.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christine Mikail Cvijic sold 9,600 shares of Neurogene stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $31.25, for a total transaction of $300,000.00. Following the sale, the chief financial officer directly owned 93,640 shares in the company, valued at approximately $2,926,250. The trade was a 9.30% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 20,442 shares of company stock worth $525,622. Corporate insiders own 11.68% of the company’s stock.

Institutional Trading of Neurogene

Several institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets raised its position in shares of Neurogene by 89.8% during the 3rd 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 period. PNC Financial Services Group Inc. raised its position in shares of Neurogene by 24.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,055 shares of the company’s stock valued at $88,000 after buying an additional 1,000 shares during the period. ADAR1 Capital Management LLC raised its position in shares of Neurogene by 3.4% during the 3rd quarter. ADAR1 Capital Management LLC now owns 30,633 shares of the company’s stock valued at $531,000 after buying an additional 1,008 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Neurogene by 17.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,983 shares of the company’s stock valued at $82,000 after purchasing an additional 1,059 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings 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 purchasing an additional 2,950 shares during the last quarter. Hedge funds and other 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.