Neurogene (NASDAQ:NGNE) Shares Up 7.2% – Still a Buy?

Neurogene Inc. (NASDAQ:NGNE) shares shot up 7.2% on Tuesday . The stock traded as high as $34.47 and last traded at $34.9150. 146,702 shares traded hands during mid-day trading, a decline of 16% from the average session volume of 174,607 shares. The stock had previously closed at $32.56.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and set a $70.00 target price on shares of Neurogene in a research report on Tuesday, June 9th. Guggenheim started coverage on shares of Neurogene in a report on Tuesday, April 28th. They issued a “buy” rating and a $69.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Neurogene in a research report on Tuesday, April 21st. UBS Group set a $70.00 price objective on shares of Neurogene in a research report on Wednesday, June 3rd. Finally, Rodman & Renshaw started coverage on shares of Neurogene in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $70.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Neurogene presently has an average rating of “Buy” and a consensus target price of $84.83.

Neurogene Price Performance

The stock has a market cap of $578.50 million, a price-to-earnings ratio of -8.05 and a beta of 1.68. The stock’s 50 day simple moving average is $29.39 and its two-hundred day simple moving average is $23.35.

Neurogene (NASDAQ:NGNE) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($1.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.30) by ($0.09). As a group, analysts predict that Neurogene Inc. will post -5.63 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Christine Mikail Cvijic sold 4,061 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $34.82, for a total transaction of $141,404.02. Following the completion of the sale, the chief financial officer directly owned 88,840 shares of the company’s stock, valued at $3,093,408.80. This trade represents a 4.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 14,400 shares of company stock worth $466,574. 11.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Neurogene

A number of large investors have recently modified their holdings of NGNE. BNP Paribas Financial Markets lifted its holdings in Neurogene by 89.8% during the 3rd 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. Daiwa Securities Group Inc. acquired a new stake in shares of Neurogene during the fourth quarter worth $66,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Neurogene by 17.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,983 shares of the company’s stock valued at $82,000 after acquiring an additional 1,059 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Neurogene in the fourth quarter valued at approximately $165,000. Finally, Bridgeway Capital Management LLC bought a new stake in shares of Neurogene in the 3rd quarter valued at $187,000. 52.37% of the stock is currently owned by institutional investors and hedge funds.

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.