Neurogene (NASDAQ:NGNE) Stock Price Up 5.2% - Should You Buy?

Key Points

• Neurogene shares rose 5.2% to about $38.13, although trading volume was 51% below the stock’s average daily volume.
• Analysts maintain a broadly positive view, with a consensus rating of “Moderate Buy” and an average price target of $83.67; however, targets were recently reduced and Weiss Ratings reiterated a sell rating.
• The clinical-stage biotech reported a quarterly loss of $1.53 per share, missing estimates by $0.11, while insiders have sold 9,600 shares worth roughly $339,932 over the past three months.

Neurogene Inc. (NASDAQ:NGNE - Get Free Report) traded up 5.2% during mid-day trading on Tuesday . The stock traded as high as $38.21 and last traded at $38.13. Approximately 91,933 shares were traded during trading, a decline of 51% from the average daily volume of 188,166 shares. The stock had previously closed at $36.24.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Neurogene in a report on Friday, July 17th. HC Wainwright reduced their target price on Neurogene from $70.00 to $65.00 and set a "buy" rating on the stock in a report on Wednesday, August 12th. Canaccord Genuity Group decreased their target price on Neurogene from $180.00 to $166.00 and set a "buy" rating for the company in a research report on Wednesday, August 12th. Rodman & Renshaw initiated coverage on Neurogene in a research report on Wednesday, June 3rd. They set a "buy" rating and a $70.00 price target on the stock. Finally, UBS Group set a $70.00 price target on Neurogene in a research note on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Neurogene presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.67.

Neurogene Price Performance

The stock has a 50 day simple moving average of $35.89 and a 200-day simple moving average of $28.51. The firm has a market cap of $757.78 million, a PE ratio of -7.53 and a beta of 1.70.

Neurogene (NASDAQ:NGNE - Get Free Report) last issued its quarterly earnings results 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). As a group, equities analysts predict that Neurogene Inc. will post -5.62 EPS for the current fiscal year.

Insiders Place Their Bets

In other Neurogene news, CFO Christine Mikail Cvijic sold 4,200 shares of Neurogene stock in a transaction dated Tuesday, July 7th. The shares were 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 directly owned 84,040 shares of the company's stock, valued at approximately $3,036,365.20. The trade was a 4.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 9,600 shares of company stock worth $339,932. 11.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Neurogene

A number of 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 worth $82,000 after acquiring an additional 1,059 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Neurogene by 81.6% in the 2nd quarter. Bank of America Corp DE now owns 95,401 shares of the company's stock worth $1,426,000 after purchasing an additional 42,880 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Neurogene by 89.8% in the third quarter. BNP Paribas Financial Markets now owns 2,067 shares of the company's stock worth $36,000 after purchasing an additional 978 shares during the last quarter. Bridgeway Capital Management LLC purchased a new position in shares of Neurogene in the third quarter worth $187,000. Finally, Balyasny Asset Management L.P. bought a new position in shares of Neurogene during the third quarter valued at $12,114,000. Hedge funds and other institutional investors 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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