Neurogene (NASDAQ:NGNE) Given New $50.00 Price Target at HC Wainwright

Neurogene (NASDAQ:NGNE) had its price target trimmed by HC Wainwright from $55.00 to $50.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Neurogene Price Performance

Shares of NGNE opened at $14.20 on Tuesday. The firm has a fifty day moving average of $17.01 and a 200-day moving average of $29.15. Neurogene has a 1 year low of $13.47 and a 1 year high of $74.49.

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

Insider Activity

In other Neurogene news, CFO Christine Mikail Cvijic sold 4,501 shares of the company’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 value 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 document filed with the SEC, which is available at this hyperlink. Corporate insiders own 9.92% of the company’s stock.

Institutional Trading of Neurogene

Several institutional investors have recently modified their holdings of NGNE. Charles Schwab Investment Management Inc. increased its holdings in shares of Neurogene by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 30,317 shares of the company’s stock valued at $1,272,000 after buying an additional 741 shares in the last quarter. Virtus ETF Advisers LLC raised its position 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 purchasing an additional 989 shares during the period. Rhumbline Advisers lifted its holdings in shares of Neurogene by 9.2% during the fourth quarter. Rhumbline Advisers now owns 15,704 shares of the company’s stock valued at $359,000 after purchasing an additional 1,326 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Neurogene by 34.5% in the 4th 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 period. Finally, BNP Paribas Financial Markets increased its stake in Neurogene by 192.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,170 shares of the company’s stock worth $91,000 after purchasing an additional 1,429 shares in the last quarter. Institutional investors and hedge funds own 52.37% of the company’s stock.

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.