Stuart Cobb Sells 6,797 Shares of Neurogene Inc. (NASDAQ:NGNE) Stock

Neurogene Inc. (NASDAQ:NGNE) insider Stuart Cobb sold 6,797 shares of Neurogene stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $15.15, for a total transaction of $102,974.55. Following the completion of the sale, the insider now directly owns 20,794 shares in the company, valued at $315,029.10. This trade represents a 24.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Neurogene Stock Performance

Shares of NGNE opened at $17.99 on Friday. Neurogene Inc. has a 52-week low of $6.88 and a 52-week high of $74.49. The stock’s 50-day simple moving average is $13.49 and its 200 day simple moving average is $20.64. The stock has a market capitalization of $256.57 million, a price-to-earnings ratio of -4.14 and a beta of 1.56.

Neurogene (NASDAQ:NGNE) last announced its quarterly earnings results on Friday, May 9th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.03). On average, research analysts forecast that Neurogene Inc. will post -4.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NGNE has been the subject of a number of recent research reports. HC Wainwright decreased their target price on Neurogene from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday. Robert W. Baird lowered Neurogene from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $38.00 to $24.00 in a report on Friday. Baird R W cut Neurogene from a “strong-buy” rating to a “hold” rating in a research note on Friday. William Blair reiterated an “outperform” rating on shares of Neurogene in a research report on Tuesday, March 25th. Finally, BMO Capital Markets reduced their target price on shares of Neurogene from $45.00 to $16.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $43.40.

Institutional Trading of Neurogene

Several institutional investors and hedge funds have recently bought and sold shares of the company. Corebridge Financial Inc. grew its position in shares of Neurogene by 13.8% during the 1st quarter. Corebridge Financial Inc. now owns 5,826 shares of the company’s stock valued at $68,000 after purchasing an additional 705 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Neurogene by 9.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 11,231 shares of the company’s stock worth $132,000 after buying an additional 941 shares in the last quarter. Virtus ETF Advisers LLC grew its position in Neurogene by 45.1% during the fourth quarter. Virtus ETF Advisers LLC now owns 3,183 shares of the company’s stock worth $73,000 after buying an additional 989 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Neurogene by 17.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,983 shares of the company’s stock worth $82,000 after acquiring an additional 1,059 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Neurogene by 9.2% in the 4th quarter. Rhumbline Advisers now owns 15,704 shares of the company’s stock valued at $359,000 after acquiring an additional 1,326 shares in the last quarter. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

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.