Vestal Point Capital LP acquired a new stake in shares of Neurogene Inc. (NASDAQ:NGNE - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 80,000 shares of the company's stock, valued at approximately $1,829,000. Vestal Point Capital LP owned about 0.54% of Neurogene at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of NGNE. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Neurogene during the fourth quarter valued at $72,000. Rhumbline Advisers boosted 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 purchasing an additional 1,326 shares during the last quarter. M&T Bank Corp purchased a new position in Neurogene in the fourth quarter worth about $323,000. PNC Financial Services Group Inc. purchased a new position in Neurogene in the fourth quarter worth about $71,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Neurogene by 72.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,290 shares of the company's stock worth $239,000 after purchasing an additional 4,334 shares during the last quarter. 52.37% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research analysts have issued reports on the company. William Blair reissued an "outperform" rating on shares of Neurogene in a research report on Tuesday, March 25th. Baird R W cut Neurogene from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 16th. BMO Capital Markets raised their target price on Neurogene from $16.00 to $22.00 and gave the stock an "outperform" rating in a research report on Tuesday. HC Wainwright dropped their target price on Neurogene from $50.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Finally, Robert W. Baird cut Neurogene from an "outperform" rating to a "neutral" rating and dropped their target price for the stock from $38.00 to $24.00 in a research report on Friday, May 16th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $44.60.
Get Our Latest Stock Report on NGNE
Insider Transactions at Neurogene
In other news, CFO Christine Mikail Cvijic sold 4,501 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $16.94, for a total value of $76,246.94. Following the transaction, the chief financial officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stuart Cobb sold 6,797 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $15.15, for a total value of $102,974.55. Following the completion of the transaction, the insider now directly owns 20,794 shares in the company, valued at $315,029.10. This trade represents a 24.63% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 9.92% of the company's stock.
Neurogene Stock Performance
Shares of NASDAQ NGNE traded down $1.06 during trading on Wednesday, hitting $17.49. The company had a trading volume of 122,808 shares, compared to its average volume of 241,786. The stock has a 50 day simple moving average of $13.57 and a 200 day simple moving average of $20.10. Neurogene Inc. has a 12 month low of $6.88 and a 12 month high of $74.49. The firm has a market capitalization of $249.44 million, a P/E ratio of -4.02 and a beta of 1.56.
Neurogene (NASDAQ:NGNE - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The company reported ($1.08) EPS for the quarter, missing the consensus estimate of ($1.05) by ($0.03). As a group, analysts predict that Neurogene Inc. will post -4.27 EPS for the current year.
Neurogene Company 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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