Neurogene (NASDAQ:NGNE) Shares Down 5.3% – Here’s What Happened

Neurogene Inc. (NASDAQ:NGNE)’s stock price traded down 5.3% during mid-day trading on Monday . The company traded as low as $33.37 and last traded at $33.4650. 86,774 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 173,875 shares. The stock had previously closed at $35.34.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NGNE. Guggenheim initiated coverage on Neurogene in a report on Tuesday, April 28th. They set a “buy” rating and a $69.00 target price on the stock. Canaccord Genuity Group lowered their price objective on Neurogene to $180.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Neurogene in a research note on Tuesday, April 21st. UBS Group set a $70.00 target price on Neurogene in a research report on Wednesday, June 3rd. Finally, HC Wainwright reiterated a “buy” rating and set a $70.00 price target on shares of Neurogene in a report on Tuesday, June 9th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Neurogene has an average rating of “Buy” and a consensus target price of $84.83.

Neurogene Trading Down 5.8%

The firm has a 50-day moving average of $29.39 and a two-hundred day moving average of $23.35. The firm has a market cap of $526.25 million, a price-to-earnings ratio of -7.34 and a beta of 1.68.

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

Insider Buying and Selling

In other Neurogene news, CFO Christine Mikail Cvijic sold 9,600 shares of the stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $31.25, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer directly owned 93,640 shares of the company’s stock, valued at $2,926,250. This represents a 9.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 14,400 shares of company stock worth $466,574. 11.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Neurogene

A number of institutional investors have recently added to or reduced their stakes in NGNE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings 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 valued at $82,000 after acquiring an additional 1,059 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Neurogene by 81.6% during the 2nd quarter. Bank of America Corp DE now owns 95,401 shares of the company’s stock worth $1,426,000 after purchasing an additional 42,880 shares in the last quarter. Blair William & Co. IL increased its position in shares of Neurogene by 6.4% during the third quarter. Blair William & Co. IL now owns 141,820 shares of the company’s stock valued at $2,458,000 after purchasing an additional 8,584 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Neurogene by 89.8% in the third 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 in the last quarter. Finally, Bridgeway Capital Management LLC acquired a new position in shares of Neurogene in the third quarter valued at $187,000. 52.37% of the stock is owned by institutional investors and hedge funds.

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.