Neurogene Inc. (NASDAQ:NGNE) Receives $44.60 Average Target Price from Analysts

Neurogene Inc. (NASDAQ:NGNE) has earned a consensus rating of “Moderate Buy” from the seven research firms that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $44.60.

NGNE has been the subject of a number of research reports. HC Wainwright decreased their price objective on shares of Neurogene from $50.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, May 13th. Robert W. Baird downgraded shares of Neurogene from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $38.00 to $24.00 in a report on Friday, May 16th. BMO Capital Markets lifted their price objective on shares of Neurogene from $16.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, May 20th. Baird R W lowered shares of Neurogene from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 16th. Finally, William Blair reiterated an “outperform” rating on shares of Neurogene in a research report on Tuesday, March 25th.

Neurogene Price Performance

Neurogene stock opened at $21.58 on Friday. The company has a market cap of $307.77 million, a PE ratio of -4.96 and a beta of 1.57. The company has a fifty day moving average price of $15.10 and a two-hundred day moving average price of $17.63. Neurogene has a 12 month low of $6.88 and a 12 month high of $74.49.

Neurogene (NASDAQ:NGNE) last released its quarterly earnings data on Friday, May 9th. The company reported ($1.08) EPS for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.03). Equities research analysts anticipate that Neurogene will post -4.27 earnings per share for the current year.

Insiders Place Their Bets

In other Neurogene news, insider Stuart Cobb sold 6,797 shares of the business’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $15.15, for a total transaction of $102,974.55. Following the completion of the transaction, the insider now owns 20,794 shares in the company, valued at approximately $315,029.10. The trade was a 24.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Christine Mikail Cvijic sold 4,501 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 72,343 shares of the company’s stock, valued at $1,225,490.42. This trade represents a 5.86% decrease in their position. The disclosure for this sale can be found here. 11.64% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Neurogene by 17.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,983 shares of the company’s stock valued at $82,000 after buying an additional 1,059 shares during the period. ADAR1 Capital Management LLC acquired a new stake in shares of Neurogene in the first quarter valued at $327,000. Baker BROS. Advisors LP lifted its holdings in shares of Neurogene by 120.4% in the first quarter. Baker BROS. Advisors LP now owns 1,486,200 shares of the company’s stock valued at $17,403,000 after buying an additional 811,750 shares during the period. Corebridge Financial Inc. lifted its holdings in shares of Neurogene by 13.8% in the first quarter. Corebridge Financial Inc. now owns 5,826 shares of the company’s stock valued at $68,000 after buying an additional 705 shares during the period. Finally, Walleye Capital LLC lifted its holdings in shares of Neurogene by 25.7% in the first quarter. Walleye Capital LLC now owns 94,083 shares of the company’s stock valued at $1,102,000 after buying an additional 19,247 shares during the period. 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.