Nuveen LLC Purchases New Holdings in Neurogene Inc. $NGNE

Key Points

• Nuveen LLC has acquired a new stake in Neurogene Inc. with the purchase of 27,482 shares, valued at approximately $322,000, representing 0.19% ownership of the company.
• Neurogene's shares have experienced a significant drop, with a current price around $19.95, down from a one-year high of $74.49.
• The company reported an earnings per share (EPS) of (-$1.05) for the last quarter, surpassing analysts' expectations of (−$1.15).

Nuveen LLC purchased a new stake in shares of Neurogene Inc. (NASDAQ:NGNE - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 27,482 shares of the company's stock, valued at approximately $322,000. Nuveen LLC owned 0.19% of Neurogene as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of NGNE. Two Sigma Investments LP purchased a new position in shares of Neurogene during the fourth quarter valued at approximately $472,000. GAMMA Investing LLC boosted its holdings in Neurogene by 2,985.1% in the 1st quarter. GAMMA Investing LLC now owns 4,134 shares of the company's stock worth $48,000 after buying an additional 4,000 shares during the period. Vestal Point Capital LP bought a new position in shares of Neurogene during the 4th quarter valued at about $1,829,000. Bank of New York Mellon Corp lifted its holdings in shares of Neurogene by 8.2% in the 1st quarter. Bank of New York Mellon Corp now owns 24,445 shares of the company's stock valued at $286,000 after acquiring an additional 1,844 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in 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 purchasing an additional 1,397 shares during the last quarter. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Neurogene Stock Down 1.3%

Shares of NASDAQ NGNE traded down $0.26 during trading on Wednesday, hitting $19.00. 37,832 shares of the company traded hands, compared to its average volume of 216,982. Neurogene Inc. has a 1 year low of $6.88 and a 1 year high of $74.49. The company has a 50-day moving average price of $20.74 and a 200-day moving average price of $17.44. The firm has a market capitalization of $271.06 million, a P/E ratio of -4.41 and a beta of 1.58.

Neurogene (NASDAQ:NGNE - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The company reported ($1.05) EPS for the quarter, topping analysts' consensus estimates of ($1.15) by $0.10. Research analysts predict that Neurogene Inc. will post -4.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NGNE has been the topic of several research reports. Robert W. Baird lowered shares of Neurogene from an "outperform" rating to a "neutral" rating and cut their price objective for the company from $38.00 to $24.00 in a report on Friday, May 16th. Craig Hallum started coverage on shares of Neurogene in a report on Tuesday, June 17th. They set a "buy" rating and a $50.00 price target for the company. BMO Capital Markets reiterated an "outperform" rating and issued a $26.00 target price (up previously from $22.00) on shares of Neurogene in a report on Thursday, June 12th. HC Wainwright decreased their price target on shares of Neurogene from $50.00 to $45.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Finally, Baird R W cut shares of Neurogene from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 16th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $46.17.

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.