Neurogene (NASDAQ:NGNE) Trading 7.2% Higher – Should You Buy?

Neurogene Inc. (NASDAQ:NGNE) was up 7.2% during trading on Tuesday . The company traded as high as $34.47 and last traded at $34.9150. Approximately 146,702 shares were traded during mid-day trading, a decline of 16% from the average session volume of 174,607 shares. The stock had previously closed at $32.56.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on NGNE shares. Canaccord Genuity Group lowered their price target on Neurogene to $180.00 and set a “buy” rating for the company in a research note on Monday, April 6th. HC Wainwright reaffirmed a “buy” rating and set a $70.00 price objective on shares of Neurogene in a research report on Tuesday, June 9th. Rodman & Renshaw began coverage on shares of Neurogene in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $70.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Neurogene in a research report on Tuesday, April 21st. Finally, Guggenheim initiated coverage on shares of Neurogene in a research note on Tuesday, April 28th. They set a “buy” rating and a $69.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Neurogene has a consensus rating of “Buy” and an average target price of $84.83.

Neurogene Trading Up 12.4%

The firm has a market cap of $578.50 million, a price-to-earnings ratio of -8.05 and a beta of 1.68. The stock has a fifty day moving average price of $29.39 and a 200 day moving average price of $23.35.

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

Insider Buying and Selling at Neurogene

In related news, CFO Christine Mikail Cvijic sold 4,061 shares of the company’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $34.82, for a total transaction of $141,404.02. Following the completion of the sale, the chief financial officer directly owned 88,840 shares of the company’s stock, valued at approximately $3,093,408.80. This represents a 4.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 14,400 shares of company stock valued at $466,574 in the last ninety days. 11.68% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Neurogene

A number of hedge funds have recently bought and sold shares of NGNE. BNP Paribas Financial Markets grew its position in shares of Neurogene by 89.8% in the third quarter. BNP Paribas Financial Markets now owns 2,067 shares of the company’s stock valued at $36,000 after purchasing an additional 978 shares during the last quarter. ADAR1 Capital Management LLC boosted its stake in 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 purchasing an additional 1,008 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew 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 buying an additional 1,059 shares during the last quarter. Bank of New York Mellon Corp grew 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 buying an additional 2,950 shares during the last quarter. Finally, Daiwa Securities Group Inc. bought a new position in Neurogene in the 4th quarter worth approximately $66,000. 52.37% of the stock is currently owned by institutional investors.

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.