Neurogene (NASDAQ:NGNE) Sets New 1-Year High – Here’s What Happened

Neurogene Inc. (NASDAQ:NGNE) hit a new 52-week high on Wednesday . The stock traded as high as $37.69 and last traded at $38.57, with a volume of 20899 shares traded. The stock had previously closed at $36.80.

Analyst Ratings Changes

A number of equities analysts recently issued reports on NGNE shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Neurogene in a report on Tuesday, April 21st. Canaccord Genuity Group cut their price objective on shares of Neurogene to $180.00 and set a “buy” rating on the stock in a report on Monday, April 6th. UBS Group set a $70.00 price objective on shares of Neurogene in a research report on Wednesday, June 3rd. Rodman & Renshaw began coverage on shares of Neurogene in a report on Wednesday, June 3rd. They issued a “buy” rating and a $70.00 target price for the company. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $70.00 target price on shares of Neurogene in a research report on Tuesday, June 9th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $84.83.

Neurogene Stock Performance

The stock has a market cap of $589.50 million, a PE ratio of -8.20 and a beta of 1.68. The firm’s 50-day moving average is $29.70 and its 200 day moving average is $23.57.

Neurogene (NASDAQ:NGNE) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.30) by ($0.09). On average, sell-side analysts predict that Neurogene Inc. will post -5.63 EPS for the current fiscal year.

Insider Transactions at Neurogene

In other Neurogene news, CFO Christine Mikail Cvijic sold 9,600 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $31.25, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 19,200 shares of company stock valued at $639,932. Insiders own 11.68% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of 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 purchasing an additional 1,059 shares during the period. Bank of America Corp DE raised its position in 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 buying an additional 42,880 shares during the last quarter. Blair William & Co. IL lifted its stake in shares of Neurogene by 6.4% in the 3rd quarter. Blair William & Co. IL now owns 141,820 shares of the company’s stock worth $2,458,000 after acquiring an additional 8,584 shares during the period. BNP Paribas Financial Markets boosted its holdings 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 acquiring an additional 978 shares in the last quarter. Finally, Bridgeway Capital Management LLC purchased a new stake in shares of Neurogene in the third quarter valued at about $187,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

About Neurogene

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.