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

by · The Markets Daily

Neurogene Inc. (NASDAQ:NGNE – Get Free Report) has earned an average rating of “Buy” from the seven ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $83.67.

A number of analysts have issued reports on NGNE shares. HC Wainwright reduced their target price on shares of Neurogene from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. William Blair upgraded shares of Neurogene to a “strong-buy” rating in a report on Wednesday, September 23rd. Guggenheim raised their price target on shares of Neurogene from $69.00 to $81.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Neurogene in a research note on Friday, July 17th. Finally, Canaccord Genuity Group decreased their price objective on shares of Neurogene from $180.00 to $166.00 and set a “buy” rating for the company in a report on Wednesday, August 12th.

Check Out Our Latest Stock Report on Neurogene

Insider Buying and Selling at Neurogene

In other Neurogene news, CFO Christine Cvijic sold 4,200 shares of the business’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $36.13, for a total value of $151,746.00. Following the completion of the sale, the chief financial officer owned 84,040 shares of the company’s stock, valued at $3,036,365.20. The trade was a 4.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Pale Fire Capital SE bought a new stake in Neurogene during the second quarter worth approximately $298,000. Moore Capital Management LP acquired a new position in Neurogene in the 2nd quarter valued at $4,454,000. Wellington Management Group LLP acquired a new position in Neurogene in the 2nd quarter valued at $987,000. Seven Fleet Capital Management LP bought a new position in Neurogene in the 2nd quarter worth $694,000. Finally, Bank of America Corp DE bought a new position in Neurogene in the 2nd quarter worth $350,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

Neurogene Price Performance

NGNE opened at $25.65 on Friday. The company has a market capitalization of $513.26 million, a PE ratio of -5.10 and a beta of 1.70. Neurogene has a fifty-two week low of $15.93 and a fifty-two week high of $43.66. The business has a 50-day moving average of $34.84 and a 200-day moving average of $30.65.

Neurogene (NASDAQ:NGNE – Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($1.53) EPS for the quarter, missing the consensus estimate of ($1.42) by ($0.11). On average, equities research analysts expect that Neurogene will post -5.8 earnings per share for the current fiscal year.

Neurogene Company Profile

(Get Free Report)

Neurogene Inc is a clinical-stage biotechnology company focused on developing genetic medicines for patients with rare and devastating neurological diseases. The company’s work centers on gene therapies designed to address severe neurodevelopmental and neurodegenerative disorders for which treatment options are limited.

Neurogene’s pipeline includes NGN-401, an investigational gene therapy being developed for Rett syndrome, and NGN-101, an investigational therapy targeting CLN5 disease, a form of neuronal ceroid lipofuscinosis also known as Batten disease.

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