Neurogene (NASDAQ:NGNE) CFO Sells 4,061 Shares

Neurogene Inc. (NASDAQ:NGNE) CFO Christine Mikail Cvijic sold 4,061 shares of the stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $34.82, for a total value of $141,404.02. Following the sale, the chief financial officer directly owned 88,840 shares of the company’s stock, valued at $3,093,408.80. The trade was a 4.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Christine Mikail Cvijic also recently made the following trade(s):

• On Wednesday, July 1st, Christine Mikail Cvijic sold 739 shares of Neurogene stock. The stock was sold at an average price of $34.06, for a total value of $25,170.34.
• On Wednesday, May 6th, Christine Mikail Cvijic sold 9,600 shares of Neurogene stock. The stock was sold at an average price of $31.25, for a total value of $300,000.00.

Neurogene Stock Performance

NASDAQ:NGNE traded up $1.46 during trading on Thursday, reaching $35.34. The company’s stock had a trading volume of 363,205 shares, compared to its average volume of 174,652. Neurogene Inc. has a 12 month low of $15.93 and a 12 month high of $37.27. The firm has a market cap of $558.37 million, a price-to-earnings ratio of -7.77 and a beta of 1.68. The firm has a 50 day moving average of $29.05 and a 200-day moving average of $23.14.

Neurogene (NASDAQ:NGNE) last released its earnings results on Tuesday, May 12th. The company reported ($1.39) EPS for the quarter, missing analysts’ consensus estimates of ($1.30) by ($0.09). Equities research analysts forecast that Neurogene Inc. will post -5.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Neurogene

Several large investors have recently modified their holdings of NGNE. Balyasny Asset Management L.P. purchased a new position in Neurogene in the 3rd quarter valued at approximately $12,114,000. Logos Global Management LP purchased a new stake in Neurogene during the fourth quarter valued at about $4,017,000. Jennison Associates LLC lifted its position in Neurogene by 35.3% in the 4th quarter. Jennison Associates LLC now owns 533,088 shares of the company’s stock worth $10,982,000 after buying an additional 138,999 shares during the last quarter. State Street Corp boosted its stake in shares of Neurogene by 47.8% in the 4th quarter. State Street Corp now owns 307,797 shares of the company’s stock valued at $6,341,000 after purchasing an additional 99,487 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Neurogene by 122.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 162,018 shares of the company’s stock valued at $3,338,000 after buying an additional 89,216 shares during the period. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on NGNE. HC Wainwright reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Neurogene in a research report on Tuesday, June 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Neurogene in a research note on Tuesday, April 21st. Guggenheim began coverage on shares of Neurogene in a report on Tuesday, April 28th. They issued a “buy” rating and a $69.00 price target on the stock. Canaccord Genuity Group dropped their price objective on Neurogene to $180.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Finally, Rodman & Renshaw started coverage on Neurogene in a report on Wednesday, June 3rd. They set a “buy” rating and a $70.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $84.83.

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.