Neurogene Inc. (NASDAQ:NGNE) Receives Average Rating of "Moderate Buy" from Analysts

Neurogene Inc. (NASDAQ:NGNE - Get Free Report) has received an average recommendation of "Moderate Buy" from the seven analysts that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $44.60.

Several equities analysts recently weighed in on the company. HC Wainwright dropped their price objective on Neurogene from $50.00 to $45.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. BMO Capital Markets raised their price target on Neurogene from $16.00 to $22.00 and gave the company an "outperform" rating in a research report on Tuesday, May 20th. Robert W. Baird downgraded Neurogene from an "outperform" rating to a "neutral" rating and cut their price target for the stock from $38.00 to $24.00 in a research note on Friday, May 16th. William Blair reiterated an "outperform" rating on shares of Neurogene in a research report on Tuesday, March 25th. Finally, Baird R W downgraded shares of Neurogene from a "strong-buy" rating to a "hold" rating in a report on Friday, May 16th.

Neurogene Trading Down 4.2%

Shares of NGNE traded down $0.92 during trading hours on Friday, reaching $20.66. The company had a trading volume of 99,480 shares, compared to its average volume of 249,216. Neurogene has a 12-month low of $6.88 and a 12-month high of $74.49. The firm has a 50 day simple moving average of $15.10 and a 200-day simple moving average of $17.63. The company has a market capitalization of $294.70 million, a price-to-earnings ratio of -4.75 and a beta of 1.57.

Neurogene (NASDAQ:NGNE - Get Free Report) last issued its earnings results on Friday, May 9th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.05) by ($0.03). Sell-side analysts forecast that Neurogene will post -4.27 earnings per share for the current year.

Insider Transactions at Neurogene

In other Neurogene news, insider Stuart Cobb sold 6,797 shares of the business's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $15.15, for a total value of $102,974.55. Following the completion of the transaction, the insider now directly owns 20,794 shares in the company, valued at approximately $315,029.10. The trade was a 24.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction, the chief financial officer now directly owns 72,343 shares in the company, valued at approximately $1,225,490.42. This represents a 5.86% decrease in their position. The disclosure for this sale can be found here. Insiders own 11.64% of the company's stock.

Institutional Trading of Neurogene

A number of institutional investors and hedge funds have recently made changes to their positions in NGNE. Corebridge Financial Inc. grew its position in Neurogene by 13.8% during the first quarter. Corebridge Financial Inc. now owns 5,826 shares of the company's stock valued at $68,000 after acquiring an additional 705 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Neurogene by 9.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 11,231 shares of the company's stock valued at $132,000 after purchasing an additional 941 shares in the last quarter. Virtus ETF Advisers LLC grew its holdings in shares of Neurogene by 45.1% during the 4th quarter. Virtus ETF Advisers LLC now owns 3,183 shares of the company's stock worth $73,000 after purchasing an additional 989 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Neurogene by 17.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,983 shares of the company's stock worth $82,000 after purchasing an additional 1,059 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings 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 during the period. 52.37% of the stock is currently owned by institutional investors and hedge funds.

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.