Neurogene (NASDAQ:NGNE) Sees Unusually-High Trading Volume – What’s Next?

Neurogene Inc. (NASDAQ:NGNE) shares saw unusually-high trading volume on Monday . 295,708 shares were traded during mid-day trading, an increase of 59% from the previous session’s volume of 185,399 shares.The stock last traded at $40.3610 and had previously closed at $38.63.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on NGNE shares. HC Wainwright cut their price target on shares of Neurogene from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Neurogene in a research note on Friday, July 17th. UBS Group set a $70.00 price objective on shares of Neurogene in a research report on Wednesday, June 3rd. Canaccord Genuity Group cut their target price on shares of Neurogene from $180.00 to $166.00 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. Finally, Guggenheim increased their target price on Neurogene from $69.00 to $81.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $83.67.

Neurogene Stock Performance

The company has a 50 day simple moving average of $35.01 and a two-hundred day simple moving average of $27.61. The company has a market cap of $806.30 million, a PE ratio of -8.01 and a beta of 1.70.

Neurogene (NASDAQ:NGNE) last issued its earnings results on Tuesday, August 11th. The company reported ($1.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.42) by ($0.11). As a group, analysts expect that Neurogene Inc. will post -5.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Neurogene news, CFO Christine Mikail Cvijic sold 4,200 shares of the stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $36.13, for a total value of $151,746.00. Following the completion of the sale, the chief financial officer owned 84,040 shares in the company, valued at $3,036,365.20. This represents a 4.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 9,600 shares of company stock valued at $339,932. 11.68% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Neurogene

A number of hedge funds have recently modified their holdings of NGNE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Neurogene by 17.9% during the first 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 last quarter. Bank of America Corp DE raised its stake in shares of 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 purchasing an additional 42,880 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Neurogene by 89.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,067 shares of the company’s stock worth $36,000 after purchasing an additional 978 shares in the last quarter. Bridgeway Capital Management LLC acquired a new stake in shares of Neurogene during the 3rd quarter valued at about $187,000. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Neurogene during the 3rd quarter valued at about $12,114,000. 52.37% of the stock is owned by institutional investors and hedge funds.

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.