Neurogene (NASDAQ:NGNE) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Neurogene (NASDAQ:NGNE) released its quarterly earnings results on Monday. The company reported ($0.99) EPS for the quarter, topping the consensus estimate of ($1.04) by $0.05, Zacks reports.

Neurogene Stock Performance

NGNE stock opened at $13.96 on Tuesday. The stock’s 50 day moving average is $17.09 and its two-hundred day moving average is $29.30. Neurogene has a 52-week low of $13.47 and a 52-week high of $74.49.

Analysts Set New Price Targets

Separately, HC Wainwright dropped their price objective on shares of Neurogene from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Neurogene presently has an average rating of “Buy” and an average target price of $59.80.

Insider Activity

In related news, CFO Christine Mikail Cvijic sold 4,501 shares of the company’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 sale, the chief financial officer now directly owns 72,343 shares of the company’s stock, valued at $1,225,490.42. This represents a 5.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 9.92% 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.