NGNE Neurogene Inc. - Common Stock
NASDAQ · Biotechnology · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 11, 2026
$25.65
· of 52w range
· above low
· to high
$16.3052w low
$43.6652w high
Market Cap (MRQ)
$406M
P/E
-6.1
EPS
$-4.24
Revenue
$0
your badges
52W Range
$16–$44
Analyst Rating
BUY
Price Target
$80
P/E
-6.1
ROE
-33.6%
Net Profit Margin
·
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NGNE Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$25.65
Market Cap (MRQ)
$406M
P/E
-6.1
EPS
$-4.24
Revenue
$0
ROE
-33.6%
52W Range
$16–$44
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Stock splits
| Ex-date | Split | Type |
|---|---|---|
| Dec. 19, 2023 | 1-for-4 | Reverse |
| Sept. 25, 2023 | 1-for-5 | Reverse |
10-Year Performance Revenue, net income, margins and EPS trends
Revenue$02018-12-31 → 2025-12-31
EPS$-4.242020-12-31 → 2025-12-31
Free Cash Flow$-78M2016-12-31 → 2025-12-31
Net margin·2022-12-31 → 2024-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | NGNE | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E | -6.15Y avg ≈-21.6 | ≈-21.6 | · | · | |
| P/B (MRQ) | 1.95Y avg ≈7.4 | ≈7.4 | 2.9 | Undervalued | |
| Price / FCF (TTM) | -4.65Y avg ≈-20.7 | ≈-20.7 | · | · | |
| Price / Cash Flow (TTM) | -4.75Y avg ≈-21.9 | ≈-21.9 | · | · | |
| Price / Tangible Book | 1.55Y avg ≈1.2 | ≈1.2 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | NGNE | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| ROA | -28.9%5Y avg ≈-30.3% | ≈-30.3% | -17.8% | Weak | |
| ROE | -33.6%5Y avg ≈-549.1% | ≈-549.1% | -18.7% | Weak | |
| ROIC | -39.0% | · | -32.5% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | NGNE | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Current Ratio (MRQ) | 10.65Y avg ≈14.4 | ≈14.4 | 11.6 | Low liquidity | |
| Quick Ratio | 16.45Y avg ≈14.2 | ≈14.2 | 2.9 | Strong liquidity |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | NGNE | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.05Y avg ≈0.0 | ≈0.0 | 0.0 | Weak | |
| Revenue / Employee | ≈$0.00 | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
5.9%
Next Report
Nov 11, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 10, 2026 | $-1.53 | $-1.45 | -5.4% |
| March 31, 2026 | May 8, 2026 | $-1.39 | $-1.32 | -5.1% |
| Dec. 31, 2025 | $-1.17 | $-1.21 | 3.5% | |
| Sept. 30, 2025 | $-0.99 | $-1.27 | 22.4% | |
| June 30, 2025 | $-1.05 | $-1.18 | 11.1% | |
| March 31, 2025 | $-1.08 | $-1.08 | 0.42% | |
| Dec. 31, 2024 | $-0.99 | $-1.15 | 14.1% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $925.0K | $0 | · | · | · | · | $25M | |
| R&D Expense | $75M | $61M | $44M | $48M | $39M | · | · | $42M | |
| SG&A Expense | $28M | $23M | $11M | $9M | $22M | $17M | $19M | $16M | |
| Operating Expenses | $103M | $84M | $56M | $57M | $61M | · | $71M | $58M | |
| Operating Income | $-103M | $-83M | $-56M | $-57M | $-61M | $-34M | $-71M | $-33M | |
| Interest Expense | · | · | $12.0K | $2.0K | · | · | $1.0K | $4.0K | |
| Interest Income | $12M | $8M | $3M | $1M | · | · | · | · | |
| Other Non-op | $13M | $7M | · | $-42.0K | $-13.0K | $-44.0K | $-9.0K | $1M | |
| Pretax Income | $-90M | $-75M | $-36M | $-55M | $-61M | $-33M | $-69M | $-32M | |
| Income Tax | $0 | $0 | · | · | · | · | · | · | |
| Net Income | $-90M | $-75M | $-36M | $-55M | $-61M | $-33M | $-69M | $-32M | |
| EPS (Basic) | $-4.24 | $-4.28 | · | $-1.04 | $-1.10 | $-0.64 | · | · | |
| EPS (Diluted) | $-4.24 | $-4.28 | · | $-1.04 | $-1.10 | $-0.64 | · | · | |
| Shares (Basic) | 21,326,283 | 17,567,082 | · | 55,221,161 | 55,041,662 | 51,825,022 | · | · | |
| Shares (Diluted) | 21,326,283 | 17,567,082 | · | 55,221,161 | 55,041,662 | 51,825,022 | · | · | |
| EBITDA | $-100M | $-79M | $-52M | $-58M | $-59M | $-33M | $-71M | · |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $104M | $137M | $148M | $82M | $142M | $193M | $143M | $77M | |
| Short-term Investments | $165M | $176M | $49M | $0 | $0 | · | · | · | |
| Prepaid Expense | $3M | $4M | $3M | $3M | · | · | · | · | |
| Other Current Assets | $168.0K | $981.0K | $1M | $630.0K | $2M | $2M | $503.0K | · | |
| Current Assets | $272M | $316M | $200M | $85M | $144M | $195M | $144M | $77M | |
| PP&E (Net) | $13M | $15M | $17M | $20M | $6M | $4M | $2M | $400.0K | |
| PP&E (Gross) | $27M | $27M | $25M | $25M | · | $4M | $3M | $843.0K | |
| Accum. Depreciation | $14M | $11M | $8M | $5M | · | $585.0K | $688.0K | $443.0K | |
| Intangibles | · | · | · | $0 | $128.0K | $347.0K | $567.0K | · | |
| Other Non-current Assets | $1M | $975.0K | $764.0K | $0 | $2M | $2M | $30.0K | · | |
| Total Assets | $289M | $336M | $223M | $109M | $163M | $211M | $147M | $78M | |
| Accounts Payable | $2M | $1M | $3M | $625.0K | $7M | $7M | $4M | · | |
| Accrued Liabilities | $11M | $10M | $17M | $5M | · | · | · | · | |
| Current Liabilities | $16M | $15M | $23M | $7M | $9M | $8M | $5M | $5M | |
| Capital Leases | $7M | $9M | $12M | $4M | $12M | $11M | $447.0K | $6.0K | |
| Other Non-current Liabilities | $51.0K | $51.0K | $203.0K | $0 | · | · | · | $319.0K | |
| Total Liabilities | $24M | $25M | $37M | $11M | $20M | $19M | $5M | $5M | |
| Common Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | · | |
| Paid-in Capital | $618M | $573M | $373M | $5M | $536M | $524M | $441M | $303M | |
| Retained Earnings | $-353M | $-262M | $-187M | $-151M | $-393M | $-333M | $-300M | $-230M | |
| AOCI | · | · | · | $-21.0K | $0 | · | · | · | |
| Stockholders' Equity | $265M | $310M | $186M | $-146M | $-92M | $191M | $142M | $73M | |
| Liabilities + Equity | $289M | $336M | $223M | $109M | $163M | $211M | $147M | $78M | |
| Shares Outstanding | 15,489,800 | 14,854,725 | 12,823,665 | 0 | 0 | 42,196,296 | 37,996,849 | 23,537,368 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| D&A | $3M | $3M | $3M | $3M | $1M | $785.0K | $340.0K | $289.0K | |
| Stock-based Comp | $14M | $8M | $1M | $1M | $12M | $6M | $8M | $5M | |
| Amort. of Intangibles | · | · | · | $100.0K | $200.0K | $200.0K | · | · | |
| Restructuring | · | · | · | $1M | · | $0 | · | · | |
| Other Non-cash | $-4M | $-7M | $-20M | $2M | $271.0K | $2M | $46M | · | |
| Operating Cash Flow | $-77M | $-71M | $-51M | $-53M | $-48M | $-25M | $-15M | $-32M | |
| CapEx | $1M | $808.0K | $321.0K | $2M | $3M | $2M | $879.0K | $49.0K | |
| Investing Cash Flow | $14M | $-125M | $26M | $-2M | $-3M | $-2M | $-688.0K | $56M | |
| Stock Issued | $30M | $0 | $92M | $0 | $0 | $72M | $81M | · | |
| Net Stock Activity | $30M | $0 | $92M | · | $0 | $72M | $86M | · | |
| Financing Cash Flow | $30M | $184M | $92M | $67M | $732.0K | $77M | $82M | $570.0K | |
| Net Change in Cash | $-33M | $-12M | $67M | $11M | $-50M | $50M | $66M | $25M | |
| Free Cash Flow | $-78M | $-71M | $-52M | $-47M | $-51M | $-27M | $-16M | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | · | -8930.3% | · | -3735.6% | · | · | · | · | |
| Net Margin | · | -8123.7% | · | -3638.2% | · | · | · | · | |
| Pretax Margin | · | -8123.7% | · | -3639.6% | · | · | · | · | |
| EBITDA Margin | · | -8584.9% | · | -3636.9% | · | · | · | · | |
| ROA | -28.9% | -26.9% | -21.9% | -41.2% | -32.5% | -18.6% | -61.8% | · | |
| ROE | -33.6% | -33.6% | -2580.2% | -57.6% | -40.8% | -17.0% | -66.6% | · | |
| ROIC | -39.0% | · | · | · | · | · | · | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 16.6 | 20.8 | 8.7 | 9.0 | 16.7 | 24.7 | 30.3 | · | |
| Quick Ratio | 16.4 | 20.6 | 8.6 | 8.7 | 16.5 | 24.4 | 30.2 | · | |
| Interest Coverage | · | · | -4631.9 | · | · | · | -70959.0 | · |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | · | 0.0 | · | · | · | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $17.10 | $20.89 | $14.51 | $2.21 | $3.36 | $4.53 | $3.73 | · | |
| Revenue / Share | $0.00 | $0.05 | · | $0.03 | · | · | · | · | |
| Cash Flow / Share | $-3.62 | $-4.02 | · | $-0.83 | $-0.86 | · | · | · | |
| Cash / Share | $6.70 | $9.19 | $11.56 | $0.89 | $3.36 | $4.56 | $3.77 | · | |
| EPS (TTM) | $-4.24 | $-4.28 | $-60.79 | $-1.04 | $-1.10 | $-0.64 | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $0 | $925.0K | $0 | · | · | · | · | $25M | |
| Net Income TTM | $-90M | $-75M | $-36M | $-55M | $-61M | $-33M | $-69M | $-32M | |
| Market Cap | $319M | $340M | $249M | $434M | $4.09B | $11.90B | $9.36B | · | |
| P/E | -4.9 | -5.3 | -0.3 | -9.8 | -87.6 | -440.6 | · | · | |
| P/S | · | 367.1 | · | · | · | · | · | · | |
| P/B | 1.2 | 1.1 | 1.3 | 4.6 | 28.6 | 62.2 | 66.1 | · | |
| P / Tangible Book | 1.2 | 1.1 | 1.3 | · | · | 62.3 | · | · | |
| P / Cash Flow | -4.1 | -4.8 | -4.8 | -9.5 | -86.1 | -484.2 | -608.2 | · | |
| P / FCF | -4.1 | -4.8 | -4.8 | -9.3 | -80.5 | -444.1 | -575.3 | · | |
| Earnings Yield | -20.6% | -18.7% | -313.7% | -10.2% | -1.1% | -0.23% | · | · |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | · | · | $0 | $0 | $0 | · | $0 | $0 | $925.0K | · | $0 | $0 | $0 | · | · | · | |
| R&D Expense | $25M | $25M | $21M | $17M | $19M | $18M | $15M | $16M | $16M | $14M | $12M | $12M | $10M | $10M | $16M | $9M | |
| SG&A Expense | $11M | $8M | $7M | $7M | $7M | $8M | $6M | $6M | $5M | $5M | $3M | $4M | $2M | $3M | $-5M | $4M | |
| Operating Expenses | $37M | $33M | $28M | $24M | $26M | $26M | $22M | $22M | $21M | $19M | $15M | $15M | $13M | $13M | $12M | $14M | |
| Operating Income | $-37M | $-33M | $-28M | $-24M | $-26M | $-26M | $-22M | $-22M | $-20M | $-19M | $-15M | $-15M | $-13M | $-13M | $-12M | $-14M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $3.0K | · | · | · | $2.0K | · | · | |
| Interest Income | $2M | $2M | $3M | $3M | $3M | $3M | $2M | $2M | $2M | $2M | $781.0K | $650.0K | $743.0K | $777.0K | · | · | |
| Other Non-op | · | · | · | · | · | · | · | · | · | · | · | $0 | $0 | $-14.0K | · | $-22.0K | |
| Net Income | $-34M | $-31M | $-25M | $-21M | $-22M | $-23M | $-20M | $-20M | $-18M | $-17M | $2M | $-15M | $-12M | $-12M | $-11M | $-13M | |
| EPS (Basic) | $-1.53 | $-1.39 | $-1.12 | $-0.99 | $-1.05 | $-1.08 | $-1.00 | $-1.19 | $-1.09 | $-1.00 | · | $-32.67 | $-26.68 | $-0.26 | · | $-1.18 | |
| EPS (Diluted) | $-1.53 | $-1.39 | $-1.12 | $-0.99 | $-1.05 | $-1.08 | $-1.00 | $-1.19 | $-1.09 | $-1.00 | · | $-32.67 | $-26.68 | $-0.26 | · | $-1.18 | |
| Shares (Basic) | 22,552,032 | 22,305,734 | · | 21,168,431 | 21,055,378 | 20,996,287 | · | 16,953,443 | 16,941,524 | 16,903,735 | · | 446,255 | 444,465 | 55,420,912 | · | 11,050,207 | |
| Shares (Diluted) | 22,552,032 | 22,305,734 | · | 21,168,431 | 21,055,378 | 20,996,287 | · | 16,953,443 | 16,941,524 | 16,903,735 | · | 446,255 | 444,465 | 55,420,912 | · | 11,050,207 | |
| EBITDA | $-37M | $-33M | · | $-23M | $-25M | $-25M | · | $-21M | $-19M | $-18M | · | $-6M | $-3M | $-15M | · | $-14M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $112M | $124M | $104M | $71M | $59M | $71M | $137M | $67M | $111M | $150M | $148M | $25M | $31M | $35M | $82M | $40M | |
| Short-term Investments | $113M | $119M | $165M | $194M | $216M | $222M | $176M | $72M | $43M | $19M | $49M | · | · | · | $0 | · | |
| Prepaid Expense | $4M | $4M | $3M | $5M | $4M | $4M | $4M | $5M | $5M | $5M | $3M | · | · | · | $3M | · | |
| Other Current Assets | $132.0K | $181.0K | $168.0K | $208.0K | $970.0K | $997.0K | $981.0K | $2M | $2M | $1M | $1M | $1M | $2M | $2M | $630.0K | $2M | |
| Current Assets | $229M | $247M | $272M | $271M | $279M | $296M | $316M | $144M | $159M | $174M | $200M | $80M | $84M | $86M | $85M | $109M | |
| PP&E (Net) | $12M | $13M | $13M | $13M | $14M | $15M | $15M | $16M | $16M | $16M | $17M | $484.0K | $561.0K | $2M | $20M | $6M | |
| PP&E (Gross) | $28M | $27M | $27M | $27M | $27M | $27M | $27M | $26M | $26M | $25M | $25M | · | · | · | $25M | · | |
| Accum. Depreciation | $16M | $15M | $14M | $13M | $13M | $12M | $11M | $10M | $10M | $9M | $8M | · | · | · | $5M | · | |
| Intangibles | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | |
| Other Non-current Assets | $1M | $1M | $1M | $1M | $1M | $896.0K | $975.0K | $789.0K | $794.0K | $743.0K | $764.0K | $524.0K | $529.0K | $905.0K | $0 | $2M | |
| Total Assets | $244M | $263M | $289M | $288M | $297M | $315M | $336M | $164M | $180M | $195M | $223M | $90M | $94M | $98M | $109M | $127M | |
| Accounts Payable | $3M | $5M | $2M | $2M | $2M | $3M | $1M | $2M | $2M | $2M | $3M | $4M | $3M | $5M | $625.0K | $9M | |
| Accrued Liabilities | $15M | $11M | $11M | $9M | $9M | $7M | $10M | $10M | $7M | $7M | $17M | · | · | · | $5M | · | |
| Current Liabilities | $22M | $19M | $16M | $15M | $15M | $14M | $15M | $16M | $13M | $12M | $23M | $5M | $5M | $7M | $7M | $10M | |
| Capital Leases | $5M | $6M | $7M | $7M | $8M | $9M | $9M | $10M | $11M | $12M | $12M | $9M | $10M | $10M | $4M | $11M | |
| Other Non-current Liabilities | $0 | $0 | $51.0K | $51.0K | $51.0K | $51.0K | $51.0K | $51.0K | $51.0K | $203.0K | $203.0K | · | · | · | $0 | · | |
| Total Liabilities | $27M | $25M | $24M | $22M | $24M | $24M | $25M | $27M | $25M | $25M | $37M | $14M | $14M | $17M | $11M | $21M | |
| Common Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Paid-in Capital | $635M | $621M | $618M | $593M | $580M | $577M | $573M | $380M | $378M | $375M | $373M | $547M | $547M | $547M | $5M | $543M | |
| Retained Earnings | $-418M | $-384M | $-353M | $-328M | $-307M | $-285M | $-262M | $-243M | $-223M | $-204M | $-187M | $-472M | $-467M | $-465M | $-151M | $-438M | |
| AOCI | · | · | · | · | · | · | · | · | · | · | · | $0 | $-13.0K | $18.0K | · | $-92.0K | |
| Stockholders' Equity | $217M | $238M | $265M | $266M | $273M | $292M | $310M | $137M | $155M | $171M | $186M | $75M | $80M | $81M | $-146M | $106M | |
| Liabilities + Equity | $244M | $263M | $289M | $288M | $297M | $315M | $336M | $164M | $180M | $195M | $223M | $90M | $94M | $98M | $109M | $127M | |
| Shares Outstanding | 15,830,504 | 15,615,786 | 15,489,800 | 14,775,285 | 14,269,264 | 14,929,566 | 14,854,725 | 13,010,867 | 12,989,208 | 12,860,995 | 12,823,665 | 8,805,284 | 44,021,429 | 42,818,346 | 0 | 42,594,602 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $813.0K | $847.0K | $694.0K | $800.0K | $800.0K | $749.0K | $781.0K | $800.0K | $800.0K | $814.0K | $850.0K | $800.0K | $800.0K | $812.0K | $2M | $323.0K | |
| Stock-based Comp | $8M | $4M | $3M | $3M | $3M | $4M | $2M | $2M | $2M | $1M | $355.0K | $-459.0K | $-514.0K | $293.0K | $-6M | $2M | |
| Restructuring | · | · | · | · | · | · | · | · | · | · | · | $0 | $142.0K | $2M | · | · | |
| Other Non-cash | · | $339.0K | · | · | · | $-3M | · | · | · | $-7M | · | · | · | $-349.0K | · | · | |
| Operating Cash Flow | $-24M | $-26M | $-17M | $-20M | $-19M | $-21M | $-17M | $-16M | $-16M | $-22M | $-17M | $-17M | $-10M | $-14M | $-18M | $-9M | |
| CapEx | $354.0K | $281.0K | $128.0K | $127.0K | $148.0K | $780.0K | $116.0K | $167.0K | $460.0K | $65.0K | $128.0K | $-358.0K | $-308.0K | $29.0K | $1M | $322.0K | |
| Investing Cash Flow | $6M | $46M | $30M | $22M | $7M | $-45M | $-103M | $-29M | $-24M | $30M | $26M | $-10M | $-11M | $-29.0K | $65M | $-28M | |
| Stock Issued | · | · | $21M | $10M | · | · | $0 | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $6M | $195.0K | $21M | $10M | $54.0K | $4.0K | $190M | $131.0K | $399.0K | $-7M | $94M | $-1M | $87.0K | $107.0K | $66M | $-52.0K | |
| Net Change in Cash | $-12M | $20M | $33M | $12M | $-12M | $-66M | $70M | $-44M | $-39M | $2M | $103M | $-29M | $-21M | $-13M | $114M | $-37M | |
| Free Cash Flow | · | $-26M | · | · | · | $-22M | · | · | · | $-22M | · | · | · | $-13M | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | · | · | · | · | · | · | · | · | -2176.7% | · | · | -533.9% | -312.5% | -1601.6% | · | -2434.5% | |
| Net Margin | · | · | · | · | · | · | · | · | -1999.1% | · | · | -433.9% | -212.5% | -1503.1% | · | -2338.5% | |
| EBITDA Margin | · | · | · | · | · | · | · | · | -2090.2% | · | · | -533.9% | -312.5% | -1566.8% | · | -2434.5% | |
| ROA | -12.7% | -10.7% | · | -9.3% | -9.2% | -8.9% | · | -15.9% | -13.5% | -11.5% | · | -4.2% | -1.8% | -11.5% | · | -8.6% | |
| ROE | -14.1% | -11.7% | · | -10.4% | -10.3% | -9.8% | · | -19.0% | -15.8% | -13.4% | · | -5.0% | -2.1% | -13.4% | · | -10.0% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 10.6 | 13.1 | · | 18.4 | 18.1 | 21.0 | · | 9.1 | 12.2 | 14.7 | · | 15.3 | 17.2 | 12.0 | · | 10.6 | |
| Quick Ratio | 10.5 | 12.9 | · | 18.0 | 17.8 | 20.8 | · | 8.8 | 11.8 | 14.3 | · | 4.8 | 6.4 | 5.0 | · | 3.9 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | -6259.7 | · | · | · | · | · | · |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | · | · | · | 0.0 | 0.0 | · | · | 0.0 | 0.0 | · | · | 0.0 | 0.0 | 0.0 | · | 0.0 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $13.72 | $15.23 | · | $17.97 | $19.15 | $19.54 | · | $10.56 | $11.93 | $13.28 | · | $8.54 | $1.81 | $1.90 | · | $2.48 | |
| Revenue / Share | · | · | · | $0.00 | $0.00 | · | · | $0.00 | $0.05 | · | · | $0.09 | $0.02 | $0.02 | · | $0.01 | |
| Cash Flow / Share | · | $-1.17 | · | · | · | $-0.99 | · | · | · | $-1.28 | · | · | · | $-0.24 | · | · | |
| Cash / Share | $7.11 | $7.95 | · | $4.81 | $4.12 | $4.74 | · | $5.12 | $8.55 | $11.67 | · | $2.86 | $0.71 | $0.83 | · | $0.95 | |
| EPS (TTM) | $-5.03 | $-4.55 | · | $-4.12 | $-4.32 | $-4.36 | · | · | · | · | · | · | · | · | · | $-2.02 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income TTM | $-111M | $-99M | · | $-85M | $-84M | $-81M | · | $-53M | $-48M | $-41M | · | $-50M | $-48M | $-52M | · | $-59M | |
| Market Cap | $498M | $315M | · | $256M | $213M | $175M | · | $546M | $473M | $655M | · | $139M | $731M | $599M | · | $545M | |
| P/E | -6.3 | -4.4 | · | -4.2 | -3.5 | -2.7 | · | · | · | · | · | · | · | · | · | -6.3 | |
| P/B | 2.3 | 1.3 | · | 1.0 | 0.8 | 0.6 | · | 4.0 | 3.0 | 3.8 | · | 1.8 | 9.2 | 7.4 | · | 5.2 | |
| P / Tangible Book | 2.3 | 1.3 | · | 1.0 | 0.8 | 0.6 | · | 4.0 | 3.0 | 3.8 | · | 1.8 | 9.2 | 7.4 | · | 5.2 | |
| P / Cash Flow | · | -12.1 | · | · | · | -8.4 | · | · | · | -30.2 | · | · | · | -46.0 | · | · | |
| Earnings Yield | -16.0% | -22.6% | · | -23.8% | -28.9% | -37.2% | · | · | · | · | · | · | · | · | · | -15.8% |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $0 | $925.0K | $0 | · | · |
| Operating Margin % | · | -8930.3% | · | -3735.6% | · |
| Net Income | $-90M | $-75M | $-36M | $-55M | $-61M |
| Diluted EPS | $-4.24 | $-4.28 | · | $-1.04 | $-1.10 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Current Ratio | 16.6 | 20.8 | 8.7 | 9.0 | 16.7 |
| Quick Ratio | 16.4 | 20.6 | 8.6 | 8.7 | 16.5 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $-78M | $-71M | $-52M | $-47M | $-51M |
Institutional owners (13F) 120 filers · $562.1M total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
120
Value held
$562.1M
New positions
21
Exited positions
4
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 21 (-3 vs prior Q) | 4 (-7 vs prior Q) | 39 (-5 vs prior Q) | 33 (+18 vs prior Q) | +272K |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| SAMSARA BIOCAPITAL, LLC | $54,003,644 | 1,717,127 | 9.61% | Shares |
| Casdin Capital, LLC | $48,601,603 | 1,545,361 | 8.65% | Shares |
| Redmile Group, LLC | $44,413,659 | 1,412,199 | 7.90% | Shares |
| RTW INVESTMENTS, LP | $42,849,241 | 1,362,456 | 7.62% | Shares |
| EcoR1 Capital, LLC | $39,983,706 | 1,271,342 | 7.11% | Shares |
| BlackRock, Inc. | $33,273,565 | 1,057,983 | 5.92% | Shares |
| BAKER BROS. ADVISORS LP | $31,188,682 | 991,691 | 5.55% | Shares |
| Balyasny Asset Management L.P. | $25,748,307 | 818,706 | 4.58% | Shares |
| Trails Edge Capital Partners, LP | $22,483,133 | 714,885 | 4.00% | Shares |
| TORONTO DOMINION BANK | $21,428,049 | 681,337 | 3.81% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $16,873,711 | 536,525 | 3.00% | Shares |
| JENNISON ASSOCIATES LLC | $16,309,405 | 518,582 | 2.90% | Shares |
| VANGUARD GROUP INC | $13,525,383 | 656,572 | 2.41% | Shares |
| CITADEL ADVISORS LLC | $12,862,484 | 408,982 | 2.29% | Shares |
| GREAT POINT PARTNERS LLC | $11,076,061 | 352,180 | 1.97% | Shares |
| ArrowMark Colorado Holdings LLC | $10,770,147 | 342,453 | 1.92% | Shares |
| FMR LLC | $9,295,393 | 295,561 | 1.65% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $9,222,612 | 293,182 | 1.64% | Shares |
| STATE STREET CORP | $7,054,927 | 224,322 | 1.26% | Shares |
| FRANKLIN RESOURCES INC | $6,424,606 | 204,280 | 1.14% | Shares |
| MORGAN STANLEY | $6,029,719 | 191,724 | 1.07% | Shares |
| UBS Group AG | $5,387,039 | 171,289 | 0.96% | Shares |
| BLAIR WILLIAM & CO/IL | $4,620,162 | 146,905 | 0.82% | Shares |
| Driehaus Capital Management LLC | $4,513,956 | 143,528 | 0.80% | Shares |
| Point72 Asset Management, L.P. | $4,463,384 | 141,920 | 0.79% | Shares |
| MOORE CAPITAL MANAGEMENT, LP | $4,454,452 | 141,636 | 0.79% | Shares |
| Rock Springs Capital Management LP | $3,357,288 | 106,750 | 0.60% | Shares |
| DEUTSCHE BANK AG\ | $3,354,457 | 106,660 | 0.60% | Shares |
| NORTHERN TRUST CORP | $3,259,509 | 103,641 | 0.58% | Shares |
| GOLDMAN SACHS GROUP INC | $3,185,131 | 101,276 | 0.57% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $3,006,651 | 95,601 | 0.53% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $2,905,980 | 92,400 | 0.52% | Call option |
| DAFNA Capital Management LLC | $2,800,056 | 89,032 | 0.50% | Shares |
| Woodline Partners LP | $2,636,611 | 83,835 | 0.47% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $2,335,540 | 74,262 | 0.42% | Shares |
| Trexquant Investment LP | $2,319,815 | 73,762 | 0.41% | Shares |
| JPMORGAN CHASE & CO | $1,997,551 | 61,882 | 0.36% | Shares |
| XTX Topco Ltd | $1,743,085 | 55,424 | 0.31% | Shares |
| SCHRODER INVESTMENT MANAGEMENT GROUP | $1,688,244 | 52,300 | 0.30% | Shares |
| MILLENNIUM MANAGEMENT LLC | $1,343,984 | 42,734 | 0.24% | Shares |
| Raiffeisen Bank International AG | $1,097,520 | 34,000 | 0.20% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $1,029,736 | 32,742 | 0.18% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $1,026,150 | 32,628 | 0.18% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $987,310 | 31,393 | 0.18% | Shares |
| Bank of New York Mellon Corp | $903,897 | 28,741 | 0.16% | Shares |
| Nuveen, LLC | $875,065 | 27,824 | 0.16% | Shares |
| CITADEL ADVISORS LLC | $839,715 | 26,700 | 0.15% | Call option |
| JANE STREET GROUP, LLC | $820,499 | 26,089 | 0.15% | Shares |
| Quadrature Capital Ltd | $764,864 | 24,320 | 0.14% | Shares |
| AMERICAN CENTURY COMPANIES INC | $733,729 | 23,330 | 0.13% | Shares |
Activists & 5%+ owners 4 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Rachel McMinn, Ph.D. | Dec. 21, 2023 | · | Initial filing | Passive investment | SEC |
| Baker Bros. Advisors LP, Baker Bros. Advisors (GP) LLC, Julian C. Baker, Felix J. Baker ×18 filings | Dec. 20, 2023 | · | Initial filing | M&A / sale | SEC |
| Redmile Group, LLC, Jeremy C. Green | July 27, 2023 | · | Initial filing | M&A / sale | SEC |
| Jonathan G. Drachman | Dec. 27, 2019 | · | Initial filing | Passive investment | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 37 insiders · 18 officers · 18 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Rachel Mcminn | Chief Executive Officer | Sept. 22, 2026 M | 1,345,063 | 0 | 1 | $-73,979 |
| Jonathan G Drachman | President and CEO | Aug. 2, 2022 A | 25,000 | 0 | 0 | $0 |
| David Main | President and CEO | Aug. 7, 2018 A | 71,530 | 0 | 0 | $0 |
| Christine Mikail Cvijic | President and CFO | July 7, 2026 S | 84,040 | 0 | 12 | $-900,010 |
| Sean Michael Smith | Interim CFO, Prin Acct Off | Aug. 10, 2023 M | 21,637 | 0 | 0 | $0 |
| Robert Ho | Chief Financial Officer | Feb. 1, 2022 A | 21,503 | 0 | 0 | $0 |
| Kamran Alam | CFO, Vice President Finance | Aug. 7, 2018 A | 0 | 0 | 0 | $0 |
| Lloyd Mackenzie | Chief Operating Officer | Aug. 7, 2018 A | 0 | 0 | 0 | $0 |
| Christina Shafer | Chief Commercial Officer | May 5, 2026 A | · | 0 | 0 | $0 |
| Julie Jordan | Chief Medical Officer | March 26, 2026 S | 12,472 | 0 | 1 | $-18,125 |
| Stuart Cobb | Chief Scientific Officer | March 13, 2026 S | 30,497 | 0 | 3 | $-141,446 |
| Donna Cochener | General Counsel, SVP Legal | Aug. 2, 2022 A | · | 0 | 0 | $0 |
| Carl Walkey | Senior Vice President | Aug. 2, 2022 A | 1,352,489 | 0 | 0 | $0 |
| Holly Vance | General Counsel | Aug. 3, 2021 A | · | 0 | 0 | $0 |
| Shelley Mccloskey | VP, HR and Administration | Aug. 7, 2018 A | · | 0 | 0 | $0 |
| Abigail Jenkins | Chief Commercial Officer | March 9, 2018 A | · | 0 | 0 | $0 |
| David Chilton Mitchell | VP Global Regulatory & Quality | March 8, 2017 A | 3,575 | 0 | 0 | $0 |
| Stephen B Shrewsbury | CMO; Senior VP Clinical Dev. | March 10, 2016 A | · | 0 | 0 | $0 |
| Cory S. Freedland | Director | Feb. 20, 2026 A | · | 0 | 0 | $0 |
| Sarah B. Noonberg | Director | Feb. 20, 2026 A | · | 0 | 0 | $0 |
| Rohan Palekar | Director | Feb. 20, 2026 A | · | 0 | 0 | $0 |
| Robert Keith Woods | Director | June 12, 2025 A | · | 0 | 0 | $0 |
| Keith Woods | Director | Jan. 16, 2024 A | · | 0 | 0 | $0 |
| Erin Lavelle | Director | June 8, 2023 A | · | 0 | 0 | $0 |
| Martin Babler | Director | June 8, 2023 A | · | 0 | 0 | $0 |
| Todd E Simpson | Director | June 8, 2023 A | · | 0 | 0 | $0 |
| Erin M. Lavelle | Director | May 11, 2021 A | · | 0 | 0 | $0 |
| Lewis T Williams | Director | May 11, 2021 A | · | 0 | 0 | $0 |
| Sean P. Nolan | Director | May 5, 2020 A | · | 0 | 0 | $0 |
| Daniel J Levitt | Director | May 14, 2018 M | 0 | 0 | 0 | $0 |
| Gary Bridger | Director | May 7, 2018 A | 0 | 0 | 0 | $0 |
| Robert Pelzer | Director | May 7, 2018 A | · | 0 | 0 | $0 |
| Pfizer Inc. | 10% owner | Aug. 10, 2015 S | 975,403 | 0 | 0 | $0 |
| Ventures West 8 Limited Partnership | 10% owner | March 12, 2014 C | 1,543,989 | 0 | 0 | $0 |
| Robert Baffi | · | Feb. 20, 2026 A | · | 0 | 0 | $0 |
| Patel Priti | · | March 31, 2023 M | 37,313 | 0 | 0 | $0 |
| Barbara Troupin | · | March 9, 2018 A | · | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 20 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| BBC · ETFis Series Trust I | 0.76% | 10,681 NS | July 31, 2026 | N-PORT |
| IBRN · iShares Trust | 0.48% | 986 SH | Sept. 11, 2026 | Daily |
| IWC · iShares Trust | 0.10% | 38,527 SH | Sept. 11, 2026 | Daily |
| IBB · iShares Trust | 0.04% | 120,007 SH | Sept. 11, 2026 | Daily |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.04% | 1,426 SH | Oct. 2, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.02% | 9,854 SH | Aug. 19, 2026 | Daily |
| IWM · iShares Trust | 0.01% | 290,868 SH | Sept. 11, 2026 | Daily |
| RSSL · Global X Funds | 0.01% | 5,395 NS | July 31, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.01% | 65,030 SH | Aug. 19, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.00% | 12,679 NS | July 31, 2026 | N-PORT |
| DXUV · Dimensional ETF Trust | 0.00% | 400 NS | July 31, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.00% | 1,381 NS | July 31, 2026 | N-PORT |
| IWV · iShares Trust | 0.00% | 4,511 SH | Sept. 3, 2026 | Daily |
| DFAC · Dimensional ETF Trust | 0.00% | 3,984 NS | July 31, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.00% | 796 NS | July 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 126,680 SH | Aug. 19, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 397,791 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 722 SH | Aug. 19, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.00% | 19,995 SH | Aug. 19, 2026 | Daily |
| IWN · iShares Trust | · | 104,527 SH | Sept. 11, 2026 | Daily |
NGNE Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 15 analysts
BUY
Median target
$65.00
+153.4%
6 40.0%
Strong Buy
8 53.3%
Buy
1 6.7%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
7 analysts · 2026-10-03Mean target $80.43 +213.6%
← Below all targets
Current price $25.65
Low$46.00
Mean$80.43
High$166.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| NGNE | $319M | -4.9 | · | · | -33.6% | · |
| ZURA | · | · | · | · | · | · |
| ALLO | $314M | -1.6 | -76.8% | · | -59.9% | · |
| PROK | · | · | 1075.0% | -7725.2% | 6.9% | · |
| MNPR | · | · | · | · | · | · |
| CAPR | $1.66B | -12.8 | -11.6% | · | -51.1% | · |
| PBYI | $300M | 9.8 | -0.91% | 13.6% | 26.5% | · |
| RGNX | $733M | -3.8 | 104.5% | -113.8% | -122.5% | · |
| OVID | $212M | -4.0 | 1181.3% | -240.1% | -18.7% | · |
| ASMB | $539M | -61.8 | 153.5% | -8.5% | -5.5% | · |
| TECX | $391M | -5.2 | · | · | -27.7% | · |
My Metrics Your personal watchlist — selected rows from Full Fundamentals
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Source: SEC 10-Q filed Aug 11, 2026