Neurogene (NASDAQ:NGNE) Sees Strong Trading Volume - Still a Buy?

Key Points

• Neurogene shares traded actively, with volume rising 59% to 295,708 shares and the stock trading around $40.36, above its 50-day and 200-day moving averages.
• Analyst sentiment remains broadly positive: five analysts rate the stock Strong Buy or Buy, one rates it Sell, and the consensus is Moderate Buy with an $83.67 price target.
• The company reported a quarterly loss of $1.53 per share, missing the $1.42 consensus estimate. Insiders have sold 9,600 shares over the past 90 days, while institutional and hedge-fund ownership stands at 52.37%.

Neurogene Inc. (NASDAQ:NGNE - Get Free Report) saw unusually-strong trading volume on Monday . 295,708 shares traded hands during mid-day trading, an increase of 59% from the previous session's volume of 185,399 shares.The stock last traded at $40.3610 and had previously closed at $38.63.

Wall Street Analysts Forecast Growth

NGNE has been the topic of a number of analyst reports. Guggenheim lifted their target price on Neurogene from $69.00 to $81.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. Rodman & Renshaw initiated coverage on Neurogene in a research report on Wednesday, June 3rd. They issued a "buy" rating and a $70.00 target price on the stock. HC Wainwright reduced their target price on Neurogene from $70.00 to $65.00 and set a "buy" rating for the company in a research note on Wednesday, August 12th. UBS Group set a $70.00 price target on shares of Neurogene in a research report on Wednesday, June 3rd. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Neurogene in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $83.67.

Neurogene Price Performance

The business's fifty day simple moving average is $35.01 and its 200 day simple moving average is $27.61. The stock has a market cap of $806.30 million, a price-to-earnings ratio of -8.01 and a beta of 1.70.

Neurogene (NASDAQ:NGNE - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported ($1.53) earnings per share for the quarter, missing analysts' consensus estimates of ($1.42) by ($0.11). As a group, equities analysts forecast that Neurogene Inc. will post -5.62 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Christine Mikail Cvijic sold 4,200 shares of Neurogene stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $36.13, for a total transaction of $151,746.00. Following the sale, the chief financial officer directly owned 84,040 shares in the company, valued at $3,036,365.20. The trade was a 4.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 9,600 shares of company stock valued at $339,932. 11.68% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System increased its holdings in shares of Neurogene by 712.3% in the second quarter. California State Teachers Retirement System now owns 4,906 shares of the company's stock valued at $156,000 after buying an additional 4,302 shares in the last quarter. Pale Fire Capital SE bought a new stake in shares of Neurogene during the 2nd quarter worth $298,000. Moore Capital Management LP bought a new stake in shares of Neurogene during the 2nd quarter worth $4,454,000. Wellington Management Group LLP acquired a new position in shares of Neurogene in the 2nd quarter worth $987,000. Finally, Seven Fleet Capital Management LP acquired a new position in shares of Neurogene in the 2nd quarter worth $694,000. 52.37% of the stock is owned by institutional investors and hedge funds.

About Neurogene

Neurogene, Inc is a clinical‐stage biotechnology company specializing in the development of gene therapies for rare neurological diseases. The company's lead platform employs adeno‐associated virus (AAV) vectors designed to deliver functional copies of disease-causing genes directly to the central nervous system. Neurogene's pipeline focuses on inherited lysosomal storage disorders, including investigational programs for GM1 and GM2 gangliosidoses, with additional preclinical efforts targeting other monogenic neurodegenerative conditions.

Neurogene's proprietary AAV9‐based delivery system has been engineered to cross the blood-brain barrier, aiming to provide durable gene expression in affected tissues.

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