Neurogene (NASDAQ:NGNE) Given Outperform Rating at William Blair

William Blair restated their outperform rating on shares of Neurogene (NASDAQ:NGNE) in a report published on Tuesday morning,RTT News reports.

Separately, HC Wainwright reduced their price target on Neurogene from $55.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $59.80.

Neurogene Price Performance

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

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

Insider Transactions at Neurogene

In other 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 transaction, the chief financial officer now owns 72,343 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. 9.92% of the stock is currently owned by corporate insiders.

Institutional Trading of Neurogene

Institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Neurogene by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 30,317 shares of the company’s stock worth $1,272,000 after buying an additional 741 shares in the last quarter. Virtus ETF Advisers LLC increased its position in 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 acquiring an additional 989 shares during the period. Rhumbline Advisers increased its position in Neurogene by 9.2% during the fourth quarter. Rhumbline Advisers now owns 15,704 shares of the company’s stock worth $359,000 after acquiring an additional 1,326 shares during the period. Wells Fargo & Company MN raised its stake 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 purchasing an additional 1,397 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in Neurogene by 192.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,170 shares of the company’s stock valued at $91,000 after purchasing an additional 1,429 shares during the period. 52.37% of the stock is currently owned by institutional investors.

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.