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

Neurogene Inc. (NASDAQ:NGNE) insider Stuart Cobb sold 6,797 shares of the company’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $20.81, for a total transaction of $141,445.57. Following the sale, the insider owned 30,497 shares of the company’s stock, valued at $634,642.57. The trade was a 18.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Neurogene Stock Down 2.3%

NGNE stock opened at $21.08 on Wednesday. Neurogene Inc. has a twelve month low of $6.88 and a twelve month high of $37.27. The company has a market cap of $326.53 million, a P/E ratio of -5.13 and a beta of 1.53. The business’s fifty day moving average is $19.17 and its 200-day moving average is $21.65.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets increased 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 worth $36,000 after acquiring an additional 978 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Neurogene by 24.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,055 shares of the company’s stock valued at $88,000 after purchasing an additional 1,000 shares in the last quarter. ADAR1 Capital Management LLC grew its position in shares of Neurogene by 3.4% in the 3rd quarter. ADAR1 Capital Management LLC now owns 30,633 shares of the company’s stock valued at $531,000 after purchasing an additional 1,008 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew 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 valued at $82,000 after purchasing an additional 1,059 shares during the period. Finally, Daiwa Securities Group Inc. bought a new stake in Neurogene during the 4th quarter worth approximately $66,000. 52.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NGNE shares. Wall Street Zen cut Neurogene from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. HC Wainwright reaffirmed a “buy” rating and issued a $70.00 price target on shares of Neurogene in a research note on Tuesday, January 13th. Canaccord Genuity Group began coverage on shares of Neurogene in a research report on Friday, February 27th. They issued a “buy” rating on the stock. Lifesci Capital initiated coverage on shares of Neurogene in a research note on Monday, January 26th. They set an “outperform” rating and a $50.00 price objective on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Neurogene in a report on Thursday, January 22nd. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Neurogene has a consensus rating of “Moderate Buy” and a consensus target price of $44.00.

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.