Baker BROS. Advisors LP boosted its position in shares of Neurogene Inc. (NASDAQ:NGNE - Free Report) by 47.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 674,450 shares of the company's stock after buying an additional 218,435 shares during the period. Baker BROS. Advisors LP owned 4.54% of Neurogene worth $15,418,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Virtus ETF Advisers LLC lifted its holdings in shares of Neurogene by 45.1% in the 4th quarter. Virtus ETF Advisers LLC now owns 3,183 shares of the company's stock valued at $73,000 after buying an additional 989 shares during the period. Rhumbline Advisers increased its stake in Neurogene by 9.2% in the fourth quarter. Rhumbline Advisers now owns 15,704 shares of the company's stock valued at $359,000 after purchasing an additional 1,326 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Neurogene by 34.5% in the fourth quarter. Wells Fargo & Company MN now owns 5,444 shares of the company's stock worth $124,000 after acquiring an additional 1,397 shares during the last quarter. Barclays PLC increased its stake in Neurogene by 18.0% during the fourth quarter. Barclays PLC now owns 17,533 shares of the company's stock worth $401,000 after acquiring an additional 2,674 shares during the last quarter. Finally, PNC Financial Services Group Inc. acquired a new position in Neurogene during the fourth quarter valued at approximately $71,000. Hedge funds and other institutional investors own 52.37% of the company's stock.
Neurogene Trading Down 2.7 %
Shares of NASDAQ NGNE traded down $0.40 during mid-day trading on Friday, reaching $14.60. The company had a trading volume of 136,069 shares, compared to its average volume of 235,218. Neurogene Inc. has a 1-year low of $6.88 and a 1-year high of $74.49. The stock has a market cap of $208.23 million, a PE ratio of -3.42 and a beta of 1.56. The company has a 50-day moving average price of $13.52 and a two-hundred day moving average price of $21.92.
Neurogene (NASDAQ:NGNE - Get Free Report) last released its quarterly earnings results 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, research analysts expect that Neurogene Inc. will post -4.27 EPS for the current year.
Analyst Upgrades and Downgrades
A number of brokerages have commented on NGNE. HC Wainwright decreased their price objective on shares of Neurogene from $55.00 to $50.00 and set a "buy" rating for the company in a research report on Tuesday, March 25th. William Blair restated an "outperform" rating on shares of Neurogene in a report on Tuesday, March 25th. BMO Capital Markets decreased their price target on shares of Neurogene from $45.00 to $16.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Finally, Robert W. Baird set a $38.00 price target on shares of Neurogene in a research note on Tuesday, March 25th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $47.20.
Check Out Our Latest Stock Analysis on NGNE
Insider Activity
In other Neurogene news, CFO Christine Mikail Cvijic sold 4,501 shares of the firm's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $16.94, for a total value of $76,246.94. Following the sale, the chief financial officer now directly owns 72,343 shares in the company, valued at $1,225,490.42. This trade represents a 5.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 9.92% of the stock is currently owned by corporate insiders.
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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