Neurogene (NASDAQ:NGNE) Trading 14.4% Higher - Still a Buy?

Key Points

• The stock jumped 14.4% on Wednesday to about $33.10 on volume of 252,027 shares (51% above average), trading well above its 50- and 200-day moving averages (~$22).
• Analysts are mixed but tilted positive with an average rating of "Moderate Buy" and a consensus price target of $67, backing multiple buy/outperform calls from firms like HC Wainwright and Guggenheim.
• Company fundamentals remain early-stage: market cap ~$509M, negative P/E (-7.69), last quarter EPS of ($1.12) slightly beating estimates, and notable insider selling in March that reduced insider ownership to about 9.92%.

Shares of Neurogene Inc. (NASDAQ:NGNE - Get Free Report) traded up 14.4% during trading on Wednesday . The company traded as high as $33.00 and last traded at $33.0950. 252,027 shares changed hands during trading, an increase of 51% from the average session volume of 167,393 shares. The stock had previously closed at $28.94.

Wall Street Analyst Weigh In

Several equities research analysts have commented on NGNE shares. Weiss Ratings restated a "sell (d-)" rating on shares of Neurogene in a research note on Tuesday, April 21st. HC Wainwright reissued a "buy" rating and set a $70.00 target price on shares of Neurogene in a research report on Tuesday, January 13th. Guggenheim started coverage on shares of Neurogene in a research report on Tuesday, April 28th. They set a "buy" rating and a $69.00 target price on the stock. Canaccord Genuity Group cut their price target on shares of Neurogene to $180.00 and set a "buy" rating on the stock in a report on Monday, April 6th. Finally, Lifesci Capital began coverage on shares of Neurogene in a report on Monday, January 26th. They issued an "outperform" rating and a $50.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $67.00.

Neurogene Stock Up 12.7%

The firm's 50-day moving average price is $22.52 and its 200 day moving average price is $22.07. The firm has a market cap of $509.29 million, a P/E ratio of -7.69 and a beta of 1.69.

Neurogene (NASDAQ:NGNE - Get Free Report) last released its quarterly earnings results on Tuesday, March 24th. The company reported ($1.12) EPS for the quarter, topping the consensus estimate of ($1.20) by $0.08. On average, equities analysts predict that Neurogene Inc. will post -5.35 earnings per share for the current year.

Insider Activity

In other Neurogene news, insider Stuart Cobb sold 6,797 shares of the firm's stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $20.81, for a total transaction of $141,445.57. Following the transaction, the insider owned 30,497 shares of the company's stock, valued at approximately $634,642.57. This trade represents a 18.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Christine Mikail Cvijic sold 4,045 shares of the firm's stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $20.81, for a total transaction of $84,176.45. Following the transaction, the chief financial officer owned 105,798 shares in the company, valued at $2,201,656.38. This represents a 3.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 9.92% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Neurogene

A number of institutional investors and hedge funds have recently bought and sold shares of NGNE. BNP Paribas Financial Markets lifted its holdings in Neurogene by 89.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,067 shares of the company's stock valued at $36,000 after acquiring an additional 978 shares during the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of Neurogene in the fourth quarter worth approximately $66,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Neurogene by 17.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,983 shares of the company's stock valued at $82,000 after purchasing an additional 1,059 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Neurogene by 24.7% during the third quarter. PNC Financial Services Group Inc. now owns 5,055 shares of the company's stock valued at $88,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Neurogene during the 4th quarter valued at about $165,000. 52.37% of the stock is owned by institutional investors and hedge funds.

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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