HC Wainwright Cuts Neurogene (NASDAQ:NGNE) Price Target to $50.00

Neurogene (NASDAQ:NGNE) had its price target lowered by HC Wainwright from $55.00 to $50.00 in a report published on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock. HC Wainwright also issued estimates for Neurogene’s Q1 2025 earnings at ($0.85) EPS, Q2 2025 earnings at ($0.91) EPS, Q3 2025 earnings at ($0.95) EPS, Q4 2025 earnings at ($0.98) EPS and FY2025 earnings at ($3.68) EPS.

Neurogene Trading Down 5.0 %

Neurogene stock opened at $15.33 on Tuesday. The stock has a 50-day moving average price of $16.92 and a two-hundred day moving average price of $28.96. Neurogene has a 12 month low of $13.47 and a 12 month high of $74.49. The company has a market capitalization of $227.73 million, a PE ratio of -3.59 and a beta of 1.01.

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

Insider Activity at Neurogene

In related news, CFO Christine Mikail Cvijic sold 4,501 shares of Neurogene stock in a transaction that occurred on Thursday, March 13th. The stock was 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 of the company’s stock, valued at $1,225,490.42. The trade was a 5.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.92% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in 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 raised its position in shares of Neurogene by 912.4% in the 3rd quarter. FMR LLC now owns 731,801 shares of the company’s stock worth $30,706,000 after acquiring an additional 659,515 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of 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 shares of Neurogene during the 3rd quarter valued at about $254,000. Finally, RTW Investments LP grew its stake in Neurogene by 6.0% during the third 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 period. Institutional investors own 52.37% of the company’s stock.

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.