Neurogene (NASDAQ:NGNE) Rating Increased to Strong-Buy at Rodman & Renshaw

Neurogene (NASDAQ:NGNE) was upgraded by stock analysts at Rodman & Renshaw to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other analysts also recently weighed in on NGNE. UBS Group set a $70.00 price target on shares of Neurogene in a research report on Wednesday. Guggenheim initiated coverage on shares of Neurogene in a research report on Tuesday, April 28th. They issued a “buy” rating and a $69.00 price target on the stock. Canaccord Genuity Group dropped their target price on shares of Neurogene to $180.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Neurogene in a report on Tuesday, April 21st. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Neurogene currently has a consensus rating of “Buy” and a consensus target price of $73.13.

Neurogene Price Performance

Shares of NASDAQ:NGNE opened at $27.48 on Wednesday. The company has a market capitalization of $434.18 million, a price-to-earnings ratio of -6.04 and a beta of 1.69. The firm’s 50 day simple moving average is $25.85 and its 200 day simple moving average is $21.85. Neurogene has a fifty-two week low of $14.65 and a fifty-two week high of $37.27.

Neurogene (NASDAQ:NGNE) last announced its quarterly 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). Equities research analysts expect that Neurogene will post -5.74 earnings per share for the current year.

Insider Activity at Neurogene

In other Neurogene news, insider Stuart Cobb sold 6,797 shares of the firm’s 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 directly owned 30,497 shares in the company, valued at approximately $634,642.57. This trade represents a 18.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction of $300,000.00. Following the sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 20,442 shares of company stock worth $525,622 over the last 90 days. Corporate insiders own 11.68% of the company’s stock.

Institutional Trading of Neurogene

Hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets grew its stake 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 worth $36,000 after acquiring an additional 978 shares in the last quarter. PNC Financial Services Group Inc. grew its stake 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 worth $88,000 after acquiring an additional 1,000 shares in the last quarter. ADAR1 Capital Management LLC grew its stake 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 worth $531,000 after acquiring an additional 1,008 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Neurogene by 17.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,983 shares of the company’s stock worth $82,000 after acquiring an additional 1,059 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Neurogene by 12.8% during the 1st quarter. Bank of New York Mellon Corp now owns 26,043 shares of the company’s stock worth $525,000 after acquiring an additional 2,950 shares in the last quarter. 52.37% of the stock is currently owned by institutional investors and hedge funds.

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.