Insider Selling: Neurogene (NASDAQ:NGNE) CFO Sells 9,600 Shares of Stock

Neurogene Inc. (NASDAQ:NGNE) CFO Christine Mikail Cvijic sold 9,600 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $31.25, for a total value of $300,000.00. Following the transaction, the chief financial officer owned 93,640 shares in the company, valued at approximately $2,926,250. This trade represents a 9.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, March 13th, Christine Mikail Cvijic sold 4,045 shares of Neurogene stock. The stock was sold at an average price of $20.81, for a total value of $84,176.45.

Neurogene Stock Performance

Shares of NASDAQ NGNE traded down $0.46 during trading hours on Friday, reaching $30.80. 93,184 shares of the stock were exchanged, compared to its average volume of 167,429. The firm has a market capitalization of $481.05 million, a price-to-earnings ratio of -7.28 and a beta of 1.69. Neurogene Inc. has a 52 week low of $13.69 and a 52 week high of $37.27. The stock’s fifty day simple moving average is $23.04 and its 200 day simple moving average is $22.07.

Neurogene (NASDAQ:NGNE) last issued its quarterly earnings results on Tuesday, March 24th. The company reported ($1.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.20) by $0.08. Research analysts predict that Neurogene Inc. will post -5.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NGNE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of 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 in the last quarter. Bank of America Corp DE raised its position in shares of Neurogene by 81.6% in the 2nd quarter. Bank of America Corp DE now owns 95,401 shares of the company’s stock worth $1,426,000 after acquiring an additional 42,880 shares in the last quarter. AlphaQuest LLC raised its position in shares of Neurogene by 221.4% in the 3rd quarter. AlphaQuest LLC now owns 16,454 shares of the company’s stock worth $285,000 after acquiring an additional 11,335 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Neurogene by 24.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,055 shares of the company’s stock worth $88,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Raiffeisen Bank International AG raised its position in shares of Neurogene by 13.3% in the 3rd quarter. Raiffeisen Bank International AG now owns 34,000 shares of the company’s stock worth $602,000 after acquiring an additional 4,000 shares in the last quarter. 52.37% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NGNE has been the topic of several recent research reports. 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. HC Wainwright reissued a “buy” rating and set a $70.00 price objective on shares of Neurogene in a report on Tuesday, January 13th. Guggenheim initiated coverage on Neurogene in a report on Tuesday, April 28th. They set a “buy” rating and a $69.00 price objective on the stock. Canaccord Genuity Group cut their price objective on Neurogene to $180.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Neurogene in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

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.