Key Points
- Neurogene CFO Christine Mikail Cvijic sold 4,061 shares on July 2 at an average price of $34.82, for total proceeds of $141,404.02. After the sale, she still held 88,840 shares, a 4.37% reduction in ownership.
- The sale was made under a pre-arranged Rule 10b5-1 trading plan, which is often used to avoid concerns about opportunistic insider trading.
- NGNE shares were up 4.3% to $35.34 despite the insider sale, while analysts maintain a generally bullish view with a consensus rating of “Buy” and an average price target of $84.83.
Neurogene Inc. (NASDAQ:NGNE - Get Free Report) CFO Christine Mikail Cvijic sold 739 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $34.06, for a total value of $25,170.34. Following the transaction, the chief financial officer owned 92,901 shares in the company, valued at $3,164,208.06. This trade represents a 0.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 Thursday, July 2nd, Christine Mikail Cvijic sold 4,061 shares of Neurogene stock. The stock was sold at an average price of $34.82, for a total transaction of $141,404.02.
- 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 transaction of $300,000.00.
Neurogene Stock Up 4.3%
NGNE opened at $35.34 on Friday. The company has a market cap of $558.37 million, a price-to-earnings ratio of -7.77 and a beta of 1.68. Neurogene Inc. has a 52-week low of $15.93 and a 52-week high of $37.27. The firm's fifty day simple moving average is $29.23 and its two-hundred day simple moving average is $23.25.
Neurogene (NASDAQ:NGNE - Get Free Report) last announced its earnings results 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, research analysts forecast that Neurogene Inc. will post -5.63 EPS for the current year.
Analysts Set New Price Targets
Several equities research analysts have commented on NGNE shares. UBS Group set a $70.00 price objective on Neurogene in a research note on Wednesday, June 3rd. HC Wainwright restated a "buy" rating and issued a $70.00 target price on shares of Neurogene in a research report on Tuesday, June 9th. Rodman & Renshaw initiated coverage on Neurogene in a research note on Wednesday, June 3rd. They issued a "buy" rating and a $70.00 price target on the stock. Canaccord Genuity Group dropped their price target on Neurogene to $180.00 and set a "buy" rating for the company in a research report on Monday, April 6th. Finally, Guggenheim initiated coverage on Neurogene in a research note on Tuesday, April 28th. They issued a "buy" rating and a $69.00 price objective for the company. Two investment 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 company. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $84.83.
Check Out Our Latest Report on Neurogene
Hedge Funds Weigh In On Neurogene
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Balyasny Asset Management L.P. purchased a new stake in Neurogene during the 3rd quarter valued at about $12,114,000. ArrowMark Colorado Holdings LLC boosted its holdings in shares of Neurogene by 1.8% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 595,839 shares of the company's stock worth $10,326,000 after purchasing an additional 10,442 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Neurogene by 35.3% during the 4th quarter. Jennison Associates LLC now owns 533,088 shares of the company's stock worth $10,982,000 after purchasing an additional 138,999 shares during the last quarter. State Street Corp boosted its holdings in shares of Neurogene by 47.8% during the 4th quarter. State Street Corp now owns 307,797 shares of the company's stock worth $6,341,000 after purchasing an additional 99,487 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Neurogene by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 249,695 shares of the company's stock valued at $5,145,000 after purchasing an additional 3,262 shares in the last quarter. 52.37% of the stock is currently owned by institutional investors and hedge funds.
About Neurogene
(
Get Free Report)
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.
Further Reading
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