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

Neurogene Inc. (NASDAQ:NGNE) has received a consensus rating of “Buy” from the seven ratings firms that are currently covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $46.20.

A number of research analysts recently commented on the company. Robert W. Baird set a $38.00 price objective on Neurogene in a report on Tuesday, March 25th. BMO Capital Markets lowered their price target on Neurogene from $45.00 to $16.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. William Blair restated an “outperform” rating on shares of Neurogene in a research report on Tuesday, March 25th. Finally, HC Wainwright lowered their price target on Neurogene from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday.

Insider Transactions at Neurogene

In other news, CFO Christine Mikail Cvijic sold 4,501 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $16.94, for a total value of $76,246.94. Following the sale, the chief financial officer now directly owns 72,343 shares in the company, valued at approximately $1,225,490.42. This trade represents a 5.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 11.64% of the company’s stock.

Institutional Trading of Neurogene

Hedge funds have recently modified their holdings of the stock. Barclays PLC raised its stake in shares of Neurogene by 319.4% in the third quarter. Barclays PLC now owns 14,859 shares of the company’s stock valued at $623,000 after acquiring an additional 11,316 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Neurogene by 18.7% in the fourth quarter. Wellington Management Group LLP now owns 21,717 shares of the company’s stock valued at $496,000 after acquiring an additional 3,427 shares in the last quarter. PNC Financial Services Group Inc. acquired a new stake in Neurogene in the fourth quarter valued at $71,000. Rhumbline Advisers raised its stake in Neurogene by 9.2% in the fourth quarter. Rhumbline Advisers now owns 15,704 shares of the company’s stock valued at $359,000 after buying an additional 1,326 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in Neurogene by 34.5% in the fourth quarter. Wells Fargo & Company MN now owns 5,444 shares of the company’s stock valued at $124,000 after buying an additional 1,397 shares in the last quarter. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Neurogene Stock Performance

NGNE opened at $15.51 on Wednesday. Neurogene has a one year low of $6.88 and a one year high of $74.49. The stock has a market capitalization of $221.20 million, a PE ratio of -3.57 and a beta of 1.56. The business’s 50 day moving average price is $13.47 and its 200 day moving average price is $21.05.

Neurogene (NASDAQ:NGNE) last released its quarterly earnings data on Friday, May 9th. The company reported ($1.08) EPS for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.03). As a group, equities research analysts forecast that Neurogene will post -4.27 earnings per share for the current fiscal year.

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.