Casdin Capital LLC Buys 770,745 Shares of Neurogene Inc. (NASDAQ:NGNE)

Casdin Capital LLC lifted its position in shares of Neurogene Inc. (NASDAQ:NGNE - Free Report) by 146.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,295,361 shares of the company's stock after buying an additional 770,745 shares during the period. Neurogene makes up about 2.0% of Casdin Capital LLC's holdings, making the stock its 13th biggest holding. Casdin Capital LLC owned 8.72% of Neurogene worth $29,612,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in NGNE. Barclays PLC boosted its holdings in Neurogene by 319.4% in the 3rd quarter. Barclays PLC now owns 14,859 shares of the company's stock worth $623,000 after acquiring an additional 11,316 shares during the period. PNC Financial Services Group Inc. bought a new stake in shares of Neurogene in the 4th quarter valued at approximately $71,000. Wellington Management Group LLP lifted its position in shares of Neurogene by 18.7% in the 4th quarter. Wellington Management Group LLP now owns 21,717 shares of the company's stock worth $496,000 after buying an additional 3,427 shares during the last quarter. Jane Street Group LLC bought a new position in Neurogene in the third quarter worth about $324,000. Finally, Rhumbline Advisers increased its position in Neurogene by 9.2% in the fourth quarter. Rhumbline Advisers now owns 15,704 shares of the company's stock worth $359,000 after buying an additional 1,326 shares during the period. 52.37% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Neurogene

In other Neurogene news, CFO Christine Mikail Cvijic sold 4,501 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 72,343 shares in the company, valued at $1,225,490.42. This represents a 5.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 11.64% of the stock is currently owned by insiders.

Neurogene Price Performance

Shares of NASDAQ:NGNE traded down $0.40 on Friday, reaching $14.60. 173,021 shares of the company traded hands, compared to its average volume of 236,868. The stock has a market capitalization of $208.23 million, a PE ratio of -3.36 and a beta of 1.56. The company's 50 day moving average is $13.48 and its 200-day moving average is $21.49. Neurogene Inc. has a fifty-two week low of $6.88 and a fifty-two week high of $74.49.

Neurogene (NASDAQ:NGNE - Get Free Report) last issued its quarterly earnings results on Friday, May 9th. The company reported ($1.08) earnings per share for the quarter, missing analysts' consensus estimates of ($1.05) by ($0.03). As a group, analysts expect that Neurogene Inc. will post -4.27 EPS for the current year.

Analyst Upgrades and Downgrades

NGNE has been the subject of several analyst reports. Robert W. Baird set a $38.00 price objective on Neurogene in a research report on Tuesday, March 25th. HC Wainwright lowered their price objective on shares of Neurogene from $55.00 to $50.00 and set a "buy" rating on the stock in a research note on Tuesday, March 25th. William Blair reaffirmed an "outperform" rating on shares of Neurogene in a research note on Tuesday, March 25th. Finally, BMO Capital Markets decreased their target price on Neurogene from $45.00 to $16.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $47.20.

Neurogene Company 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.