Driehaus Capital Management LLC decreased its stake in Neurogene Inc. (NASDAQ:NGNE - Free Report) by 67.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 32,765 shares of the company's stock after selling 69,422 shares during the period. Driehaus Capital Management LLC owned 0.22% of Neurogene worth $749,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in NGNE. Casdin Capital LLC grew its holdings in Neurogene by 146.9% during the fourth quarter. Casdin Capital LLC now owns 1,295,361 shares of the company's stock valued at $29,612,000 after purchasing an additional 770,745 shares during the period. JPMorgan Chase & Co. grew its holdings in Neurogene by 10,395.3% during the fourth quarter. JPMorgan Chase & Co. now owns 481,001 shares of the company's stock valued at $10,996,000 after purchasing an additional 476,418 shares during the period. Samsara BioCapital LLC grew its holdings in Neurogene by 35.4% during the fourth quarter. Samsara BioCapital LLC now owns 1,717,127 shares of the company's stock valued at $39,254,000 after purchasing an additional 449,337 shares during the period. Baker BROS. Advisors LP boosted its holdings in shares of Neurogene by 47.9% in the fourth quarter. Baker BROS. Advisors LP now owns 674,450 shares of the company's stock worth $15,418,000 after acquiring an additional 218,435 shares during the period. Finally, Price T Rowe Associates Inc. MD bought a new stake in shares of Neurogene during the 4th quarter valued at $2,819,000. Institutional investors own 52.37% of the company's stock.
Analysts Set New Price Targets
A number of brokerages recently issued reports on NGNE. HC Wainwright lowered their price objective on Neurogene from $50.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday. William Blair restated an "outperform" rating on shares of Neurogene in a research report on Tuesday, March 25th. Robert W. Baird set a $38.00 target price on Neurogene in a research report on Tuesday, March 25th. Finally, BMO Capital Markets reduced their target price on Neurogene from $45.00 to $16.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. 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.com, Neurogene presently has an average rating of "Buy" and a consensus target price of $46.20.
View Our Latest Stock Report on Neurogene
Insider Transactions at Neurogene
In related news, CFO Christine Mikail Cvijic sold 4,501 shares of Neurogene 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 transaction, the chief financial officer now directly owns 72,343 shares of the company's stock, valued at $1,225,490.42. This trade represents a 5.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 11.64% of the company's stock.
Neurogene Stock Down 1.9%
NGNE stock traded down $0.29 during trading on Wednesday, reaching $15.22. The company's stock had a trading volume of 119,549 shares, compared to its average volume of 237,965. Neurogene Inc. has a 1 year low of $6.88 and a 1 year high of $74.49. The company has a market capitalization of $217.07 million, a P/E ratio of -3.50 and a beta of 1.56. The company's fifty day moving average is $13.47 and its 200-day moving average is $21.05.
Neurogene (NASDAQ:NGNE - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The company reported ($1.08) EPS for the quarter, missing analysts' consensus estimates of ($1.05) by ($0.03). Analysts anticipate that Neurogene Inc. will post -4.27 earnings per share for the current year.
About Neurogene
(
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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