Neurogene Inc.
NGNE · Pharmaceutical Preparations · 15.8M shares · -24%/yr ↓ buyback · EDGAR filings ↗
Reference price $30.07 · est. market cap ~$475M — last insider sale, 2026-05-06 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D46Clinical/early-stage biotech — gene-therapy clinical, heavy burn, very well-funded.
Strengths
- Liquidity — current ratio 16.6 (92nd)
Risks
- Pre-revenue, deep losses — per metrics
- Pre-revenue/clinical-stage — history of losses & need for capital per risk factors
- Binary clinical & funding risk — per 10-K
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Cash burnNegative free cash flow (-78.4M)
- Buying back stockNet buyback — share count -24%/yr over 4y
- Strong balance sheetStrong balance sheet — $269M cash & investments, ~14 quarters of runway
- Notable holderHeld by 5 notable fund(s): CITADEL ADVISORS LLC, FMR LLC, STATE STREET CORP +2 more (as of 2026-03-31)
- Insider sellingInsider selling — 12 open-market sale(s) by 4 insider(s) (cluster of 4 insiders, ~$793,630, last 6mo) Form 4 ↗
- Revenue declineRevenue -100.0% YoY
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Return on equity
-34.1%
Return on assets
-31.3%
Revenue growth (QoQ)
-100.0%
Current ratio
16.6×
Free cash flow
-$78M
EBITDA
-$100M
Tangible book value
$265M
Cash & investments
$269M
Cash runway
14q
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-06 | Cvijic Christine Mikail | Sell | 4.8K | $30.07 |
| 2026-05-06 | Cvijic Christine Mikail | Sell | 4.8K | $32.44 |
| 2026-03-26 | Jordan Julie | Sell | 828 | $21.89 |
| 2026-03-26 | McMinn Rachel | Sell | 3.4K | $22.07 |
| 2026-03-26 | Cvijic Christine Mikail | Sell | 2.6K | $21.62 |
| 2026-03-13 | Cobb Stuart | Sell | 4.0K | $20.41 |
| 2026-03-13 | Cobb Stuart | Sell | 2.7K | $21.34 |
| 2026-03-13 | Cobb Stuart | Sell | 148 | $22.08 |
| 2026-03-13 | Cvijic Christine Mikail | Sell | 2.4K | $20.42 |
| 2026-03-13 | Cvijic Christine Mikail | Sell | 1.4K | $21.25 |
| 2026-03-13 | Cvijic Christine Mikail | Sell | 263 | $22.02 |
| 2026-02-27 | Cvijic Christine Mikail | Sell | 4.8K | $25.11 |
| 2026-02-20 | Cobb Stuart | Grant | 16K | — |
| 2026-02-20 | Jordan Julie | Grant | 4.9K | — |
| 2026-02-20 | McMinn Rachel | Grant | 26K | — |
| 2026-02-20 | Cvijic Christine Mikail | Grant | 22K | — |
| 2025-05-14 | Cobb Stuart | Sell | 6.8K | $15.15 |
| 2025-03-26 | Cobb Stuart | Grant | 7.2K | — |
| 2025-03-26 | Cvijic Christine Mikail | Grant | 20K | — |
| 2025-03-26 | Jordan Julie | Grant | 8.4K | — |
| 2025-03-26 | McMinn Rachel | Grant | 24K | — |
| 2025-03-13 | Cvijic Christine Mikail | Sell | 4.5K | $16.94 |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT05898620 ↗ | A Novel, Regulated Gene Therapy (NGN-401) Study for Females With Rett Syndrome Rett Syndrome | PHASE3 | Active Not Recruiting | 2029-12-01 |
| NCT05228145 ↗ | Gene Therapy Study for Children With CLN5 Batten Disease Neuronal Ceroid Lipofuscinosis CLN5 | PHASE1/PHASE2 | Active Not Recruiting | 2028-11-01 |
| NCT03822650 ↗ | A Natural History Study of Neuronal Ceroid Lipofuscinosis Type 5 (CLN5) Ceroid Lipofuscinosis, Neuronal 5 | — | Completed | 2024-05-30 |
| NCT04659629 ↗ | NL-201 Monotherapy and in Combination With Pembrolizumab in Patients With Relapsed or Refractory Cancer Solid Tumor, Advanced Solid Tumor | PHASE1 | Completed | 2022-12-15 |
| NCT03810508 ↗ | A Natural History Study of Charcot-Marie-Tooth 4J (CMT4J) Charcot-Marie-Tooth Disease, Hereditary Motor and Sensory Neuropathy IV | — | Terminated | 2022-02-15 |
| NCT03853876 ↗ | A Natural History Study of Aspartylglucosaminuria Aspartylglucosaminuria, Aspartylglucosamidase (AGA) Deficiency | — | Terminated | 2020-10-15 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-08 | 2026-06-08 | 0001404644-26-000044 ↗ |
| 8-K | 2026-06-04 | 2026-06-03 | 0001404644-26-000040 ↗ |
| 8-K | 2026-05-12 | 2026-05-12 | 0001404644-26-000038 ↗ |
| 10-Q | 2026-05-12 | 2026-03-31 | 0001404644-26-000037 ↗ |
| 8-K | 2026-04-20 | 2026-04-20 | 0001404644-26-000030 ↗ |
| 8-K | 2026-03-24 | 2026-03-24 | 0001404644-26-000012 ↗ |
| 10-K | 2026-03-24 | 2025-12-31 | 0001404644-26-000019 ↗ |
| 8-K | 2026-02-26 | 2026-02-26 | 0001404644-26-000006 ↗ |
| 8-K | 2026-01-12 | 2026-01-12 | 0001404644-26-000003 ↗ |
| 8-K | 2025-11-13 | 2025-11-13 | 0001404644-25-000103 ↗ |
| 10-Q | 2025-11-13 | 2025-09-30 | 0001404644-25-000101 ↗ |
| 8-K | 2025-11-12 | 2025-11-12 | 0001404644-25-000098 ↗ |