Vestal Point Capital LP bought a new position in Neurogene Inc. (NASDAQ:NGNE - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 80,000 shares of the company's stock, valued at approximately $1,829,000. Vestal Point Capital LP owned 0.54% of Neurogene at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP lifted its stake in shares of Neurogene by 18.7% during the 4th quarter. Wellington Management Group LLP now owns 21,717 shares of the company's stock worth $496,000 after purchasing an additional 3,427 shares during the last quarter. PNC Financial Services Group Inc. purchased a new stake in shares of Neurogene during the 4th quarter worth $71,000. Rhumbline Advisers lifted its stake in shares of Neurogene by 9.2% during the 4th quarter. Rhumbline Advisers now owns 15,704 shares of the company's stock worth $359,000 after purchasing an additional 1,326 shares during the last quarter. Mariner LLC purchased a new stake in shares of Neurogene during the 4th quarter worth $239,000. Finally, Wells Fargo & Company MN lifted its stake 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 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.
Analysts Set New Price Targets
A number of brokerages recently weighed in on NGNE. Baird R W cut Neurogene from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 16th. BMO Capital Markets boosted their price target on Neurogene from $16.00 to $22.00 and gave the stock an "outperform" rating in a research note on Tuesday. William Blair restated an "outperform" rating on shares of Neurogene in a research note on Tuesday, March 25th. HC Wainwright dropped their price target on Neurogene from $50.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Finally, Robert W. Baird lowered Neurogene from an "outperform" rating to a "neutral" rating and dropped their price target for the stock from $38.00 to $24.00 in a research note on Friday, May 16th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $44.60.
View Our Latest Analysis on NGNE
Insider Activity at Neurogene
In related news, CFO Christine Mikail Cvijic sold 4,501 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $16.94, for a total value of $76,246.94. Following 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stuart Cobb sold 6,797 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $15.15, for a total value of $102,974.55. Following the completion of the sale, the insider now owns 20,794 shares in the company, valued at approximately $315,029.10. This represents a 24.63% decrease in their position. The disclosure for this sale can be found here. 9.92% of the stock is owned by insiders.
Neurogene Trading Down 4.2%
Shares of NGNE stock traded down $0.76 during trading hours on Friday, reaching $17.28. 110,750 shares of the company's stock were exchanged, compared to its average volume of 242,255. 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 $246.45 million, a PE ratio of -3.97 and a beta of 1.56. The stock's fifty day moving average price is $13.62 and its two-hundred day moving average price is $19.44.
Neurogene (NASDAQ:NGNE - Get Free Report) last issued its 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). On average, equities analysts expect that Neurogene Inc. will post -4.27 EPS for the current fiscal year.
Neurogene Profile
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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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