Neurogene (NASDAQ:NGNE) Issues Earnings Results

Neurogene (NASDAQ:NGNE) announced its quarterly earnings data on Tuesday. The company reported ($1.12) earnings per share for the quarter, beating the consensus estimate of ($1.20) by $0.08, Zacks reports.

Neurogene Stock Performance

Neurogene stock opened at $20.90 on Wednesday. The stock has a fifty day moving average of $19.33 and a 200-day moving average of $21.65. The stock has a market capitalization of $323.74 million, a P/E ratio of -5.09 and a beta of 1.53. Neurogene has a 52 week low of $6.88 and a 52 week high of $37.27.

Analyst Ratings Changes

Several research firms have recently issued reports on NGNE. Lifesci Capital initiated coverage on Neurogene in a report on Monday, January 26th. They set an “outperform” rating and a $50.00 target price on the stock. Canaccord Genuity Group began coverage on Neurogene in a research note on Friday, February 27th. They issued a “buy” rating for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Neurogene in a research report on Thursday, January 22nd. Wall Street Zen lowered shares of Neurogene from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Finally, HC Wainwright restated a “buy” rating and issued a $70.00 target price on shares of Neurogene in a research report on Tuesday, January 13th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $44.00.

Insider Transactions at Neurogene

In other news, CFO Christine Mikail Cvijic sold 4,045 shares of the stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $20.81, for a total value of $84,176.45. Following the completion of the transaction, the chief financial officer owned 105,798 shares of the company’s stock, valued at approximately $2,201,656.38. This represents a 3.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stuart Cobb sold 6,797 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $20.81, for a total transaction of $141,445.57. Following the completion of the sale, the insider owned 30,497 shares in the company, valued at approximately $634,642.57. The trade was a 18.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 9.92% of the company’s stock.

Hedge Funds Weigh In On Neurogene

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in 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 in the last quarter. Bank of America Corp DE increased its holdings in shares of Neurogene by 81.6% during the second quarter. Bank of America Corp DE now owns 95,401 shares of the company’s stock worth $1,426,000 after buying an additional 42,880 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Neurogene by 89.8% during the third quarter. BNP Paribas Financial Markets now owns 2,067 shares of the company’s stock worth $36,000 after buying an additional 978 shares in the last quarter. Bridgeway Capital Management LLC bought a new position in shares of Neurogene in the 3rd quarter valued at $187,000. Finally, Balyasny Asset Management L.P. bought a new position in shares of Neurogene in the 3rd quarter valued at $12,114,000. Institutional investors own 52.37% of the company’s stock.

About Neurogene

Neurogene, Inc is a clinical‐stage biotechnology company specializing in the development of gene therapies for rare neurological diseases. The company’s lead platform employs adeno‐associated virus (AAV) vectors designed to deliver functional copies of disease-causing genes directly to the central nervous system. Neurogene’s pipeline focuses on inherited lysosomal storage disorders, including investigational programs for GM1 and GM2 gangliosidoses, with additional preclinical efforts targeting other monogenic neurodegenerative conditions.

Neurogene’s proprietary AAV9‐based delivery system has been engineered to cross the blood-brain barrier, aiming to provide durable gene expression in affected tissues.