ArrowMark Colorado Holdings LLC grew its holdings in Neurogene Inc. (NASDAQ:NGNE - Free Report) by 16.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 448,601 shares of the company's stock after acquiring an additional 62,136 shares during the quarter. ArrowMark Colorado Holdings LLC owned 3.02% of Neurogene worth $10,255,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. PNC Financial Services Group Inc. bought a new position in Neurogene in the 4th quarter valued at about $71,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Neurogene during the fourth quarter worth about $72,000. Virtus ETF Advisers LLC boosted its position in shares of Neurogene by 45.1% during the 4th quarter. Virtus ETF Advisers LLC now owns 3,183 shares of the company's stock valued at $73,000 after purchasing an additional 989 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of 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, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Neurogene by 72.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,290 shares of the company's stock worth $239,000 after acquiring an additional 4,334 shares in the last quarter. Institutional investors and hedge funds own 52.37% of the company's stock.
Neurogene Stock Performance
Shares of Neurogene stock traded down $0.38 during midday trading on Friday, reaching $14.62. 86,744 shares of the company's stock traded hands, compared to its average volume of 234,889. The stock has a 50 day moving average of $13.52 and a 200-day moving average of $21.92. Neurogene Inc. has a 12 month low of $6.88 and a 12 month high of $74.49. The company has a market cap of $208.51 million, a PE ratio of -3.42 and a beta of 1.56.
Neurogene (NASDAQ:NGNE - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.05) by ($0.03). On average, equities analysts anticipate that Neurogene Inc. will post -4.27 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, CFO Christine Mikail Cvijic sold 4,501 shares of the company's stock in a transaction 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 sale, the chief financial officer now owns 72,343 shares of the company's stock, valued at $1,225,490.42. This represents 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 through this link. 9.92% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the company. William Blair reissued an "outperform" rating on shares of Neurogene in a research note on Tuesday, March 25th. Robert W. Baird set a $38.00 price objective on shares of Neurogene in a report on Tuesday, March 25th. BMO Capital Markets reduced their price target on Neurogene from $45.00 to $16.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Finally, HC Wainwright decreased their price target on shares of Neurogene from $55.00 to $50.00 and set a "buy" rating on the stock in a report on Tuesday, March 25th. Six research 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, Neurogene currently has an average rating of "Buy" and a consensus price target of $47.20.
Check Out Our Latest Stock Analysis on NGNE
Neurogene Profile
(
Free Report)
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.
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