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

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

Several brokerages have commented on NGNE. William Blair restated an “outperform” rating on shares of Neurogene in a report on Tuesday. HC Wainwright lowered their target price on Neurogene from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday.

Insider Transactions at Neurogene

In other news, CFO Christine Mikail Cvijic sold 4,501 shares of Neurogene stock in a transaction dated 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 transaction, the chief financial officer now owns 72,343 shares of the company’s stock, valued at $1,225,490.42. The trade was a 5.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 9.92% of the company’s stock.

Institutional Trading of Neurogene

A number of institutional investors and hedge funds have recently bought and sold shares of NGNE. PNC Financial Services Group Inc. purchased a new stake in shares of Neurogene during the fourth quarter valued at approximately $71,000. China Universal Asset Management Co. Ltd. purchased a new position in Neurogene in the 4th quarter worth approximately $72,000. Virtus ETF Advisers LLC lifted its position in Neurogene by 45.1% in the 4th quarter. Virtus ETF Advisers LLC now owns 3,183 shares of the company’s stock valued at $73,000 after acquiring an additional 989 shares in the last quarter. BNP Paribas Financial Markets boosted its stake 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 purchasing an additional 1,429 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings 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 worth $124,000 after purchasing an additional 1,397 shares in the last quarter. 52.37% of the stock is currently owned by institutional investors.

Neurogene Stock Down 5.0 %

Shares of Neurogene stock opened at $15.33 on Tuesday. The business has a 50 day moving average of $16.92 and a 200 day moving average of $28.96. Neurogene has a 52 week low of $13.47 and a 52 week high of $74.49. The company has a market cap of $227.73 million, a PE ratio of -3.59 and a beta of 1.01.

Neurogene (NASDAQ:NGNE) last issued its quarterly earnings data on Monday, March 24th. The company reported ($0.99) EPS for the quarter, topping the consensus estimate of ($1.04) by $0.05. The company had revenue of $0.93 million during the quarter. On average, research analysts anticipate that Neurogene will post -4.27 earnings per share for the current year.

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.