Neurogene (NASDAQ:NGNE) Rating Increased to Strong-Buy at Rodman & Renshaw

Neurogene (NASDAQ:NGNE) was upgraded by equities research analysts at Rodman & Renshaw to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

Several other equities analysts have also recently weighed in on the stock. Canaccord Genuity Group decreased their target price on shares of Neurogene to $180.00 and set a “buy” rating for the company in a research note on Monday, April 6th. UBS Group set a $70.00 target price on shares of Neurogene in a research note on Wednesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Neurogene in a research note on Tuesday, April 21st. Finally, Guggenheim assumed coverage on shares of Neurogene in a research note on Tuesday, April 28th. They issued a “buy” rating and a $69.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $73.13.

Neurogene Trading Up 4.8%

NASDAQ:NGNE opened at $27.48 on Wednesday. Neurogene has a 1-year low of $14.65 and a 1-year high of $37.27. The firm has a fifty day simple moving average of $25.85 and a 200 day simple moving average of $21.85. The stock has a market capitalization of $434.18 million, a PE ratio of -6.04 and a beta of 1.69.

Neurogene (NASDAQ:NGNE) last released its earnings results on Tuesday, May 12th. The company reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($1.30) by ($0.09). On average, equities analysts predict that Neurogene will post -5.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Neurogene news, insider Stuart Cobb sold 6,797 shares of Neurogene stock in a transaction 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 transaction, the insider directly owned 30,497 shares of the company’s stock, valued at $634,642.57. The trade was a 18.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Christine Mikail Cvijic sold 9,600 shares of Neurogene stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $31.25, for a total transaction of $300,000.00. Following the transaction, the chief financial officer directly owned 93,640 shares of the company’s stock, valued at approximately $2,926,250. This trade represents a 9.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 20,442 shares of company stock valued at $525,622. Company insiders own 11.68% of the company’s stock.

Hedge Funds Weigh In On Neurogene

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC boosted its position in Neurogene by 35.3% during the fourth quarter. Jennison Associates LLC now owns 533,088 shares of the company’s stock worth $10,982,000 after purchasing an additional 138,999 shares during the period. ADAR1 Capital Management LLC boosted its position in Neurogene by 3.4% during the third quarter. ADAR1 Capital Management LLC now owns 30,633 shares of the company’s stock worth $531,000 after purchasing an additional 1,008 shares during the period. Los Angeles Capital Management LLC bought a new position in Neurogene during the fourth quarter worth $299,000. Renaissance Technologies LLC bought a new position in Neurogene during the fourth quarter worth $288,000. Finally, Virtus Investment Advisers LLC boosted its position in Neurogene by 128.0% during the fourth quarter. Virtus Investment Advisers LLC now owns 12,716 shares of the company’s stock worth $262,000 after purchasing an additional 7,138 shares during the period. 52.37% of the stock is owned by institutional investors.

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.