Neurogene Inc. (NASDAQ:NGNE) Given Average Recommendation of “Buy” by Analysts

Shares of Neurogene Inc. (NASDAQ:NGNE) have been assigned an average rating of “Buy” from the eight analysts that are presently covering the firm, Marketbeat reports. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $59.80.

Separately, HC Wainwright cut their price objective on Neurogene from $55.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday.

Insiders Place Their Bets

In other news, CFO Christine Mikail Cvijic sold 4,501 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $16.94, for a total value of $76,246.94. Following the completion of the sale, the chief financial officer now directly owns 72,343 shares of the company’s stock, valued at approximately $1,225,490.42. This trade represents a 5.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 9.92% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. bought a new position in Neurogene in the fourth quarter worth $71,000. China Universal Asset Management Co. Ltd. purchased a new stake in Neurogene during the 4th quarter valued at about $72,000. Virtus ETF Advisers LLC increased its stake in Neurogene by 45.1% during the 4th quarter. Virtus ETF Advisers LLC now owns 3,183 shares of the company’s stock valued at $73,000 after purchasing an additional 989 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Neurogene by 192.8% in the third quarter. BNP Paribas Financial Markets now owns 2,170 shares of the company’s stock worth $91,000 after buying an additional 1,429 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of Neurogene by 34.5% in the fourth quarter. Wells Fargo & Company MN now owns 5,444 shares of the company’s stock worth $124,000 after buying an additional 1,397 shares in the last quarter. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Neurogene Stock Up 0.0 %

Shares of Neurogene stock traded up $0.00 on Tuesday, reaching $13.96. 51,444 shares of the company traded hands, compared to its average volume of 208,478. The company has a 50 day moving average of $17.09 and a 200 day moving average of $29.30. Neurogene has a 52 week low of $13.47 and a 52 week high of $74.49.

Neurogene (NASDAQ:NGNE) last announced its quarterly earnings data on Monday, March 24th. The company reported ($0.99) earnings per share for the quarter, beating the consensus estimate of ($1.04) by $0.05. As a group, equities analysts predict that Neurogene will post -4.27 EPS 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.