Neurogene (NASDAQ:NGNE) Shares Up 0.1% - Here's What Happened

Key Points

• Neurogene (NASDAQ:NGNE) shares were essentially flat, up 0.1% to $27.05 with an intraday high of $28.53 and volume of 127,126 shares (down 21%); the stock trades above its 50- and 200-day moving averages (~$21.75/$22.21), has a market cap of $422.4M and a negative P/E of -6.38.
• Analysts are mixed but generally positive — five Buys, one Hold and one Sell produce a MarketBeat consensus rating of "Moderate Buy" and a consensus target price of $66.67, with individual targets ranging from Weiss Ratings' Sell to Canaccord's $180 and HC Wainwright's $70.
• Insiders sold shares on March 13 (CFO Christine Mikail Cvijic sold 4,045 shares; Stuart Cobb sold 6,797), reducing insider stakes to 11.64%, while institutional ownership stands at 52.37% after several funds added or initiated positions.

Neurogene Inc. (NASDAQ:NGNE - Get Free Report) shares shot up 0.1% on Monday . The stock traded as high as $28.53 and last traded at $27.05. 127,126 shares were traded during trading, a decline of 21% from the average session volume of 159,938 shares. The stock had previously closed at $27.03.

Analyst Upgrades and Downgrades

NGNE has been the topic of a number of recent analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $70.00 target price on shares of Neurogene in a research report on Tuesday, January 13th. Canaccord Genuity Group dropped their price target on Neurogene to $180.00 and set a "buy" rating on the stock in a research note on Monday, April 6th. Lifesci Capital initiated coverage on Neurogene in a report on Monday, January 26th. They set an "outperform" rating and a $50.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Neurogene in a research note on Tuesday, April 21st. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $66.67.

Neurogene Stock Up 0.1%

The stock's 50 day moving average price is $21.75 and its two-hundred day moving average price is $22.21. The firm has a market capitalization of $422.41 million, a price-to-earnings ratio of -6.38 and a beta of 1.56.

Neurogene (NASDAQ:NGNE - Get Free Report) last released its quarterly earnings data on Tuesday, March 24th. The company reported ($1.12) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.20) by $0.08. On average, equities analysts expect that Neurogene Inc. will post -5.35 EPS for the current fiscal year.

Insider Activity

In related news, CFO Christine Mikail Cvijic sold 4,045 shares of the firm's stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $20.81, for a total transaction of $84,176.45. Following the transaction, the chief financial officer owned 105,798 shares of the company's stock, valued at approximately $2,201,656.38. This trade represents a 3.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stuart Cobb sold 6,797 shares of Neurogene stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $20.81, for a total transaction of $141,445.57. Following the completion of the sale, the insider owned 30,497 shares of the company's stock, valued at $634,642.57. This trade represents a 18.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 11.64% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets lifted its stake in shares of Neurogene by 89.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,067 shares of the company's stock valued at $36,000 after purchasing an additional 978 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in Neurogene during the fourth quarter worth $66,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Neurogene by 17.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,983 shares of the company's stock worth $82,000 after buying an additional 1,059 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Neurogene by 24.7% during the third quarter. PNC Financial Services Group Inc. now owns 5,055 shares of the company's stock valued at $88,000 after buying an additional 1,000 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Neurogene during the fourth quarter valued at about $165,000. Institutional investors own 52.37% of the company's stock.

Neurogene Company Profile

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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