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

Neurogene (NASDAQ:NGNE - Get Free Report) had its target price decreased by investment analysts at HC Wainwright from $55.00 to $50.00 in a note issued to investors on Tuesday, MarketBeat.com reports. The firm presently has a "buy" rating on the stock. HC Wainwright's target price would indicate a potential upside of 244.35% from the company's current price. 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 Stock Down 5.3 %

Shares of Neurogene stock traded down $0.81 on Tuesday, hitting $14.52. 98,611 shares of the company traded hands, compared to its average volume of 210,041. The company has a market cap of $215.69 million, a PE ratio of -3.40 and a beta of 1.01. Neurogene has a 12-month low of $13.47 and a 12-month high of $74.49. The company has a 50-day moving average price of $16.88 and a 200 day moving average price of $28.76.

Neurogene (NASDAQ:NGNE - Get Free Report) last released its quarterly earnings results on Monday, March 24th. The company reported ($0.99) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.04) by $0.05. The company had revenue of $0.93 million for the quarter. Equities research analysts anticipate that Neurogene will post -4.27 EPS for the current year.

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Insider Activity at Neurogene

In other Neurogene news, CFO Christine Mikail Cvijic sold 4,501 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $16.94, for a total transaction of $76,246.94. Following the sale, the chief financial officer now owns 72,343 shares of the company's stock, valued at $1,225,490.42. This represents a 5.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.92% of the stock is currently owned by insiders.

Institutional Trading of Neurogene

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in shares of Neurogene by 18.7% in the 4th quarter. Wellington Management Group LLP now owns 21,717 shares of the company's stock valued at $496,000 after acquiring an additional 3,427 shares during the last quarter. Vestal Point Capital LP acquired a new position in Neurogene during the 4th quarter worth approximately $1,829,000. Squarepoint Ops LLC boosted its holdings in Neurogene by 250.0% during the fourth quarter. Squarepoint Ops LLC now owns 17,431 shares of the company's stock worth $398,000 after purchasing an additional 12,451 shares during the last quarter. Two Sigma Investments LP bought a new position in shares of Neurogene in the 4th quarter valued at about $472,000. Finally, RTW Investments LP increased its position in shares of Neurogene by 18.9% during the 4th quarter. RTW Investments LP now owns 1,350,256 shares of the company's stock worth $30,867,000 after purchasing an additional 215,000 shares during the last quarter. 52.37% of the stock is currently owned by institutional investors and hedge funds.

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.