HC Wainwright Issues Pessimistic Forecast for Neurogene (NASDAQ:NGNE) Stock Price

Neurogene (NASDAQ:NGNE) had its target price reduced by HC Wainwright from $55.00 to $50.00 in a research report released on Tuesday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Neurogene Stock Up 1.7 %

NGNE opened at $14.20 on Tuesday. Neurogene has a fifty-two week low of $13.47 and a fifty-two week high of $74.49. The business has a 50-day moving average of $17.01 and a 200-day moving average of $29.15.

Neurogene (NASDAQ:NGNE) last announced its quarterly earnings results on Monday, March 24th. The company reported ($0.99) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.04) by $0.05. The company had revenue of $0.93 million during the quarter. As a group, sell-side analysts anticipate that Neurogene will post -4.27 EPS for the current fiscal year.

Insider Activity

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

Institutional Investors Weigh In On Neurogene

Hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Neurogene by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 30,317 shares of the company’s stock worth $1,272,000 after buying an additional 741 shares during the last quarter. FMR LLC increased its position in Neurogene by 912.4% during the third quarter. FMR LLC now owns 731,801 shares of the company’s stock worth $30,706,000 after acquiring an additional 659,515 shares during the period. BNP Paribas Financial Markets boosted its holdings in Neurogene by 192.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,170 shares of the company’s stock valued at $91,000 after purchasing an additional 1,429 shares during the period. MetLife Investment Management LLC bought a new stake in Neurogene in the 3rd quarter valued at $254,000. Finally, RTW Investments LP grew its position in Neurogene by 6.0% in the 3rd quarter. RTW Investments LP now owns 1,135,256 shares of the company’s stock worth $47,635,000 after purchasing an additional 64,691 shares during the last quarter. 52.37% of the stock is currently owned by institutional investors.

Neurogene Company Profile

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.