Neurogene (NASDAQ:NGNE) Given New $166.00 Price Target at Canaccord Genuity Group

Key Points

• Canaccord Genuity lowered Neurogene’s price target to $166 from $180 but maintained a “buy” rating, implying substantial upside from the stock’s $37.08 price.
• Analyst sentiment remains broadly positive, with Neurogene receiving a “Moderate Buy” consensus rating and an average price target of $83.67, despite target reductions from HC Wainwright and Canaccord.
• Neurogene shares rose 3.6% to $37.08, while the clinical-stage biotech reported a quarterly loss of $1.53 per share—worse than the $1.42 consensus estimate.

Neurogene (NASDAQ:NGNE - Get Free Report) had its price target reduced by research analysts at Canaccord Genuity Group from $180.00 to $166.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Canaccord Genuity Group's price objective points to a potential upside of 347.68% from the stock's current price.

Several other brokerages also recently commented on NGNE. HC Wainwright lowered their target price on Neurogene from $70.00 to $65.00 and set a "buy" rating for the company in a research note on Wednesday. Weiss Ratings restated a "sell (d-)" rating on shares of Neurogene in a research note on Friday, July 17th. UBS Group set a $70.00 price target on shares of Neurogene in a report on Wednesday, June 3rd. Rodman & Renshaw initiated coverage on shares of Neurogene in a research report on Wednesday, June 3rd. They set a "buy" rating and a $70.00 price objective for the company. Finally, Guggenheim increased their price objective on shares of Neurogene from $69.00 to $81.00 and gave the company a "buy" rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Neurogene presently has an average rating of "Moderate Buy" and an average target price of $83.67.

Neurogene Stock Up 3.6%

Shares of NGNE traded up $1.28 during midday trading on Wednesday, hitting $37.08. The company's stock had a trading volume of 76,637 shares, compared to its average volume of 184,608. Neurogene has a one year low of $15.93 and a one year high of $43.66. The stock has a market capitalization of $585.86 million, a price-to-earnings ratio of -8.15 and a beta of 1.70. The company's fifty day simple moving average is $33.54 and its two-hundred day simple moving average is $26.58.

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

Insider Transactions at Neurogene

In other Neurogene news, CFO Christine Mikail Cvijic sold 4,200 shares of the company'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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 9,600 shares of company stock valued at $339,932. 11.68% of the stock is owned by corporate insiders.

Institutional Trading of Neurogene

Hedge funds and other institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Neurogene by 17.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,983 shares of the company's stock valued at $82,000 after buying an additional 1,059 shares during the last quarter. Bank of America Corp DE grew its holdings in Neurogene by 81.6% during the 2nd quarter. Bank of America Corp DE now owns 95,401 shares of the company's stock worth $1,426,000 after acquiring an additional 42,880 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Neurogene by 89.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,067 shares of the company's stock worth $36,000 after acquiring an additional 978 shares during the last quarter. Bridgeway Capital Management LLC acquired a new position in Neurogene in the 3rd quarter valued at approximately $187,000. Finally, Balyasny Asset Management L.P. acquired a new position in Neurogene in the 3rd quarter valued at approximately $12,114,000. 52.37% of the stock is currently owned by institutional investors.

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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