Insider Selling: Neurogene (NASDAQ:NGNE) Insider Sells $141,445.57 in Stock

Neurogene Inc. (NASDAQ:NGNE) insider Stuart Cobb sold 6,797 shares of Neurogene 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 completion of the sale, the insider owned 30,497 shares in the company, valued at approximately $634,642.57. This trade represents a 18.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Neurogene Trading Down 1.6%

Shares of Neurogene stock opened at $19.19 on Friday. Neurogene Inc. has a 12-month low of $6.88 and a 12-month high of $37.27. The company has a market cap of $297.25 million, a P/E ratio of -4.67 and a beta of 1.53. The company’s fifty day simple moving average is $19.19 and its two-hundred day simple moving average is $21.61.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NGNE. Balyasny Asset Management L.P. purchased a new position in Neurogene during the 3rd quarter valued at about $12,114,000. Logos Global Management LP purchased a new stake in Neurogene in the fourth quarter worth about $4,017,000. Jennison Associates LLC increased its stake in shares of Neurogene by 35.3% during the fourth quarter. Jennison Associates LLC now owns 533,088 shares of the company’s stock valued at $10,982,000 after purchasing an additional 138,999 shares in the last quarter. State Street Corp increased its stake in shares of Neurogene by 47.8% during the fourth quarter. State Street Corp now owns 307,797 shares of the company’s stock valued at $6,341,000 after purchasing an additional 99,487 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Neurogene by 122.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 162,018 shares of the company’s stock valued at $3,338,000 after purchasing an additional 89,216 shares during the last quarter. 52.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NGNE has been the subject of a number of research reports. HC Wainwright reissued a “buy” rating and issued a $70.00 price target on shares of Neurogene in a research note on Tuesday, January 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Neurogene in a research report on Thursday, January 22nd. Wall Street Zen downgraded Neurogene from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Canaccord Genuity Group assumed coverage on Neurogene in a research report on Friday, February 27th. They issued a “buy” rating for the company. Finally, Lifesci Capital started coverage on Neurogene in a research note on Monday, January 26th. They issued an “outperform” rating and a $50.00 target price for the company. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Neurogene has an average 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.