Neurogene (NASDAQ:NGNE) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Neurogene (NASDAQ:NGNE) issued its earnings results on Friday. The company reported ($1.08) EPS for the quarter, missing the consensus estimate of ($1.05) by ($0.03), Zacks reports.

Neurogene Trading Down 2.7 %

NGNE opened at $14.60 on Friday. Neurogene has a 12-month low of $6.88 and a 12-month high of $74.49. The company has a market cap of $208.23 million, a price-to-earnings ratio of -3.36 and a beta of 1.56. The stock has a fifty day simple moving average of $13.48 and a two-hundred day simple moving average of $21.49.

Insider Transactions at Neurogene

In related news, CFO Christine Mikail Cvijic sold 4,501 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $16.94, for a total transaction of $76,246.94. Following the sale, the chief financial officer now directly owns 72,343 shares of the company’s stock, valued at approximately $1,225,490.42. This represents a 5.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 11.64% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NGNE. Robert W. Baird set a $38.00 price objective on shares of Neurogene in a research note on Tuesday, March 25th. BMO Capital Markets dropped their price objective on Neurogene from $45.00 to $16.00 and set an “outperform” rating for the company in a report on Monday, April 14th. William Blair reissued an “outperform” rating on shares of Neurogene in a research note on Tuesday, March 25th. Finally, HC Wainwright decreased their target price on Neurogene from $55.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, March 25th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Neurogene has a consensus rating of “Buy” and an average target price of $47.20.

Neurogene Company Profile

Neurogene Inc, a biotechnology company, develops genetic medicines for rare neurological diseases. The company's product candidates include NGN-401 which is packaged in an adeno-associated virus 9 that is in Phase 1/2 clinical trial for the treatment of Rett syndrome; and NGN-101, a conventional gene therapy candidate that is in Phase 1/2 clinical trial to treat CLN5 Batten disease.