ArrowMark Colorado Holdings LLC Acquires 62,136 Shares of Neurogene Inc. (NASDAQ:NGNE)

ArrowMark Colorado Holdings LLC lifted its position in shares of Neurogene Inc. (NASDAQ:NGNE - Free Report) by 16.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 448,601 shares of the company's stock after purchasing an additional 62,136 shares during the period. ArrowMark Colorado Holdings LLC owned about 3.02% of Neurogene worth $10,255,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. bought a new position in shares of Neurogene during the fourth quarter valued at $71,000. China Universal Asset Management Co. Ltd. acquired a new stake in Neurogene in the fourth quarter valued at $72,000. Virtus ETF Advisers LLC raised its position in Neurogene by 45.1% during the 4th quarter. Virtus ETF Advisers LLC now owns 3,183 shares of the company's stock worth $73,000 after purchasing an additional 989 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Neurogene by 34.5% during the 4th quarter. Wells Fargo & Company MN now owns 5,444 shares of the company's stock worth $124,000 after buying an additional 1,397 shares during the period. Finally, Jane Street Group LLC bought a new stake in shares of Neurogene in the 3rd quarter valued at about $324,000. Institutional investors and hedge funds own 52.37% of the company's stock.

Insider Activity at Neurogene

In other news, CFO Christine Mikail Cvijic sold 4,501 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $16.94, for a total transaction of $76,246.94. Following the completion of the transaction, the chief financial officer now directly owns 72,343 shares of the company's stock, valued at $1,225,490.42. The trade was a 5.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 9.92% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. William Blair reaffirmed an "outperform" rating on shares of Neurogene in a research note on Tuesday, March 25th. BMO Capital Markets dropped their price objective on Neurogene from $45.00 to $16.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Robert W. Baird set a $38.00 price target on shares of Neurogene in a report on Tuesday, March 25th. Finally, HC Wainwright cut their price objective on shares of Neurogene from $55.00 to $50.00 and set a "buy" rating on the stock in a research report on Tuesday, March 25th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $47.20.

Neurogene Stock Performance

NGNE traded down $2.06 during midday trading on Tuesday, hitting $13.05. The stock had a trading volume of 652,874 shares, compared to its average volume of 234,639. The business has a fifty day moving average of $13.70 and a 200 day moving average of $22.30. Neurogene Inc. has a 1 year low of $6.88 and a 1 year high of $74.49. The company has a market cap of $186.12 million, a P/E ratio of -3.06 and a beta of 1.56.

Neurogene (NASDAQ:NGNE - Get Free Report) last announced its earnings results on Monday, March 24th. The company reported ($0.99) EPS for the quarter, beating analysts' consensus estimates of ($1.04) by $0.05. The business had revenue of $0.93 million for the quarter. On average, equities research analysts anticipate that Neurogene Inc. will post -4.27 earnings per share for the current year.

Neurogene Profile

Neurogene Inc, a biotechnology company, develops genetic medicines for rare neurological diseases. The company's product candidates include NGN-401 which is packaged in an adeno-associated virus 9 that is in Phase 1/2 clinical trial for the treatment of Rett syndrome; and NGN-101, a conventional gene therapy candidate that is in Phase 1/2 clinical trial to treat CLN5 Batten disease.