Neurogene (NASDAQ:NGNE) Shares Gap Down – Should You Sell?

Neurogene Inc. (NASDAQ:NGNE)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $39.45, but opened at $35.49. Neurogene shares last traded at $35.6340, with a volume of 38,865 shares.

Analyst Ratings Changes

A number of analysts have recently weighed in on NGNE shares. Guggenheim initiated coverage on shares of Neurogene in a report on Tuesday, April 28th. They issued a “buy” rating and a $69.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Neurogene in a report on Tuesday, April 21st. 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. Rodman & Renshaw began coverage on Neurogene in a research note on Wednesday, June 3rd. They set a “buy” rating and a $70.00 price objective on the stock. Finally, HC Wainwright restated a “buy” rating and set a $70.00 price objective on shares of Neurogene in a research report on Tuesday, June 9th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $84.83.

Neurogene Price Performance

The firm has a market cap of $589.50 million, a P/E ratio of -8.20 and a beta of 1.68. The stock’s 50-day simple moving average is $31.32 and its two-hundred day simple moving average is $24.60.

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

Insiders Place Their Bets

In related news, CFO Christine Mikail Cvijic sold 4,200 shares of the stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $36.13, for a total value of $151,746.00. Following the sale, the chief financial officer directly owned 84,040 shares of the company’s stock, valued at $3,036,365.20. This represents a 4.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 19,200 shares of company stock valued at $639,932. Corporate insiders own 11.68% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Jennison Associates LLC raised its holdings in shares of Neurogene by 35.3% in the fourth quarter. Jennison Associates LLC now owns 533,088 shares of the company’s stock worth $10,982,000 after buying an additional 138,999 shares during the period. Wells Fargo & Company MN grew its position in Neurogene by 45.2% in the 4th quarter. Wells Fargo & Company MN now owns 11,037 shares of the company’s stock valued at $227,000 after acquiring an additional 3,438 shares during the last quarter. Renaissance Technologies LLC bought a new position in Neurogene in the 4th quarter valued at $288,000. Dimensional Fund Advisors LP purchased a new stake in Neurogene in the fourth quarter worth $235,000. Finally, Alps Advisors Inc. purchased a new stake in Neurogene in the fourth quarter worth $262,000. Institutional investors 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.