Neurogene (NASDAQ:NGNE) Stock Rating Lowered by Baird R W

Neurogene (NASDAQ:NGNE - Get Free Report) was downgraded by Baird R W from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Friday,Zacks.com reports.

NGNE has been the subject of several other research reports. HC Wainwright decreased their price objective on Neurogene from $50.00 to $45.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. William Blair reissued an "outperform" rating on shares of Neurogene in a research report on Tuesday, March 25th. Robert W. Baird lowered Neurogene from an "outperform" rating to a "neutral" rating and lowered their price target for the stock from $38.00 to $24.00 in a research report on Friday, May 16th. Finally, BMO Capital Markets dropped their price objective on Neurogene from $45.00 to $16.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $44.60.

Neurogene Trading Up 4.8%

Shares of NASDAQ NGNE traded up $0.85 during midday trading on Friday, reaching $18.34. The company's stock had a trading volume of 34,074 shares, compared to its average volume of 240,975. Neurogene has a fifty-two week low of $6.88 and a fifty-two week high of $74.49. The stock has a market capitalization of $261.49 million, a price-to-earnings ratio of -4.21 and a beta of 1.56. The stock has a 50 day simple moving average of $13.57 and a 200-day simple moving average of $20.10.

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

Insider Activity

In related news, CFO Christine Mikail Cvijic sold 4,501 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $16.94, for a total transaction of $76,246.94. Following the transaction, the chief financial officer now directly owns 72,343 shares of the company's stock, valued at approximately $1,225,490.42. The trade was a 5.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stuart Cobb sold 6,797 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $15.15, for a total value of $102,974.55. Following the completion of the sale, the insider now owns 20,794 shares in the company, valued at approximately $315,029.10. This trade represents a 24.63% decrease in their position. The disclosure for this sale can be found here. 9.92% of the stock is owned by insiders.

Hedge Funds Weigh In On Neurogene

Large investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. bought a new stake in shares of Neurogene during the 4th quarter worth about $71,000. China Universal Asset Management Co. Ltd. acquired a new stake in Neurogene during the fourth quarter worth approximately $72,000. Virtus ETF Advisers LLC boosted its holdings in shares of Neurogene by 45.1% during the fourth quarter. Virtus ETF Advisers LLC now owns 3,183 shares of the company's stock worth $73,000 after acquiring an additional 989 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Neurogene by 2,985.1% during the first quarter. GAMMA Investing LLC now owns 4,134 shares of the company's stock worth $48,000 after acquiring an additional 4,000 shares during the period. Finally, Wells Fargo & Company MN grew its position in shares of 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 purchasing an additional 1,397 shares during the last quarter. 52.37% of the stock is owned by institutional investors.

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.