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

Shares of Neurogene Inc. (NASDAQ:NGNE) have earned a consensus recommendation of “Buy” from the six research firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, three have given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $84.8333.

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

Neurogene Price Performance

Shares of NASDAQ NGNE opened at $30.07 on Thursday. The stock has a market capitalization of $475.11 million, a price-to-earnings ratio of -6.61 and a beta of 1.69. Neurogene has a 12 month low of $14.65 and a 12 month high of $37.27. The firm’s 50 day simple moving average is $28.37 and its 200-day simple moving average is $22.74.

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

Insider Activity

In other 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 $2,926,250. This trade represents a 9.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.68% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in NGNE. BNP Paribas Financial Markets lifted 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 in the last quarter. Daiwa Securities Group Inc. purchased a new position in Neurogene in the 4th quarter valued at $66,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Neurogene by 24.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,055 shares of the company’s stock valued at $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 in the 4th quarter valued at $165,000. 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.