Neurogene Inc. (NASDAQ:NGNE – Get Free Report)’s share price gapped down before the market opened on Friday . The stock had previously closed at $37.88, but opened at $36.50. Neurogene shares last traded at $36.42, with a volume of 8,477 shares trading hands.
Wall Street Analyst Weigh In
Several analysts have commented on NGNE shares. HC Wainwright decreased their price target on shares of Neurogene from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, August 12th. Rodman & Renshaw began coverage on Neurogene in a research note on Wednesday, June 3rd. They set a “buy” rating and a $70.00 price target on the stock. UBS Group set a $70.00 price objective on Neurogene in a report on Wednesday, June 3rd. Canaccord Genuity Group decreased their price objective on shares of Neurogene from $180.00 to $166.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Finally, Guggenheim boosted their price target on Neurogene from $69.00 to $81.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $83.67.
Get Our Latest Analysis on Neurogene
Neurogene Price Performance
Neurogene (NASDAQ:NGNE – Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($1.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.42) by ($0.11). On average, equities research analysts predict that Neurogene Inc. will post -5.62 EPS for the current year.
Insider Transactions at Neurogene
In related news, CFO Christine Cvijic sold 4,200 shares of the business’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $36.13, for a total transaction of $151,746.00. Following the completion of the transaction, the chief financial officer directly owned 84,040 shares of the company’s stock, valued at $3,036,365.20. The trade was a 4.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 9,600 shares of company stock valued at $339,932 in the last ninety days. Company insiders own 11.68% of the company’s stock.
Institutional Investors Weigh In On Neurogene
A number of hedge funds have recently bought and sold shares of NGNE. State of Wyoming purchased a new position in Neurogene in the second quarter worth approximately $31,000. Legal & General Group Plc purchased a new stake in shares of Neurogene in the 2nd quarter valued at approximately $35,000. BNP Paribas Financial Markets increased its position in shares of Neurogene by 89.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,067 shares of the company’s stock valued at $36,000 after purchasing an additional 978 shares during the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Neurogene in the 4th quarter valued at $66,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Neurogene by 17.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,983 shares of the company’s stock worth $82,000 after purchasing an additional 1,059 shares during the last quarter. Institutional investors and hedge funds own 52.37% of the company’s stock.
Neurogene Company Profile
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.
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