HC Wainwright Issues Pessimistic Forecast for Neurogene (NASDAQ:NGNE) Stock Price

Key Points

• HC Wainwright lowered Neurogene’s price target from $70 to $65 while maintaining a “buy” rating, implying approximately 81.6% upside from the stock’s $35.80 price.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $86, despite one sell rating from Weiss Ratings.
• Neurogene reported a quarterly loss of $1.53 per share, missing estimates by $0.11; insiders have also sold 9,600 shares over the past three months, while institutional investors own 52.37% of the company.

Neurogene (NASDAQ:NGNE - Get Free Report) had its price target cut by stock analysts at HC Wainwright from $70.00 to $65.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. HC Wainwright's price target would indicate a potential upside of 81.56% from the company's current price.

Several other brokerages also recently issued reports on NGNE. Rodman & Renshaw started coverage on Neurogene in a research report on Wednesday, June 3rd. They issued a "buy" rating and a $70.00 price objective on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Neurogene in a report on Friday, July 17th. UBS Group set a $70.00 price target on shares of Neurogene in a report on Wednesday, June 3rd. Finally, 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 objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $86.00.

Neurogene Price Performance

Shares of NASDAQ NGNE opened at $35.80 on Wednesday. The firm's 50-day moving average is $33.54 and its two-hundred day moving average is $26.58. The company has a market capitalization of $565.64 million, a PE ratio of -7.87 and a beta of 1.70. Neurogene has a 12-month low of $15.93 and a 12-month high of $43.66.

Neurogene (NASDAQ:NGNE - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($1.53) earnings per share for the quarter, missing analysts' consensus estimates of ($1.42) by ($0.11). On average, analysts forecast that Neurogene will post -5.63 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Christine Mikail Cvijic sold 4,200 shares of the company's stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $36.13, for a total transaction of $151,746.00. Following the completion of the transaction, the chief financial officer owned 84,040 shares of the company's stock, valued at $3,036,365.20. This represents a 4.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 9,600 shares of company stock valued at $339,932. 11.68% of the stock is owned by insiders.

Hedge Funds Weigh In On Neurogene

Several institutional investors and hedge funds have recently bought and sold shares of the stock. State of Wyoming purchased a new position in Neurogene during the second quarter worth approximately $31,000. 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 valued at $36,000 after buying an additional 978 shares during the period. Daiwa Securities Group Inc. acquired a new stake in shares of Neurogene during the 4th quarter worth $66,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Neurogene in the 2nd quarter worth $192,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Neurogene by 17.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,983 shares of the company's stock worth $82,000 after buying an additional 1,059 shares during the period. Institutional investors and hedge funds own 52.37% of the company's stock.

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.

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