Neurogene Inc. (NASDAQ:NGNE) Receives $59.80 Average PT from Brokerages

Neurogene Inc. (NASDAQ:NGNE) has been given a consensus recommendation of “Buy” by the eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $59.80.

NGNE has been the subject of several recent research reports. William Blair reissued an “outperform” rating on shares of Neurogene in a report on Tuesday. HC Wainwright decreased their price target on shares of Neurogene from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday.

Neurogene Stock Down 5.0 %

Neurogene stock opened at $15.33 on Tuesday. The firm has a 50 day moving average price of $16.92 and a 200-day moving average price of $28.96. Neurogene has a twelve month low of $13.47 and a twelve month high of $74.49. The company has a market capitalization of $227.73 million, a P/E ratio of -3.59 and a beta of 1.01.

Neurogene (NASDAQ:NGNE) last announced its quarterly earnings data on Monday, March 24th. The company reported ($0.99) earnings per share for the quarter, beating the consensus estimate of ($1.04) by $0.05. The firm had revenue of $0.93 million for the quarter. Equities analysts expect that Neurogene will post -4.27 EPS for the current fiscal year.

Insider Buying and Selling at Neurogene

In other Neurogene news, CFO Christine Mikail Cvijic sold 4,501 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $16.94, for a total transaction of $76,246.94. Following the completion of the sale, the chief financial officer now directly owns 72,343 shares in the company, valued at $1,225,490.42. This represents a 5.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 9.92% of the company’s stock.

Institutional Investors Weigh In On Neurogene

A number of hedge funds and other institutional investors have recently modified their holdings of NGNE. PNC Financial Services Group Inc. purchased a new position in Neurogene in the 4th quarter worth approximately $71,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Neurogene in the fourth quarter worth approximately $72,000. Virtus ETF Advisers LLC increased its stake in shares of Neurogene by 45.1% in the fourth quarter. Virtus ETF Advisers LLC now owns 3,183 shares of the company’s stock worth $73,000 after buying an additional 989 shares during the period. BNP Paribas Financial Markets raised its holdings in Neurogene by 192.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,170 shares of the company’s stock valued at $91,000 after buying an additional 1,429 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Neurogene by 34.5% in the 4th quarter. Wells Fargo & Company MN now owns 5,444 shares of the company’s stock worth $124,000 after acquiring an additional 1,397 shares during the last quarter. Institutional investors own 52.37% of the company’s stock.

About Neurogene

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.