Atle Fund Management AB Has $13.45 Million Holdings in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Atle Fund Management AB reduced its Neurocrine Biosciences stake by 7.6% in the fourth quarter, selling 7,829 shares and ending with 94,796 shares valued at about $13.45 million.
• Several other institutional investors also adjusted their positions, while overall institutional ownership remains high at 92.59% of the company’s stock.
• Neurocrine shares were down 1.8% to $154.36, and Wall Street analysts remain constructive with a consensus “Moderate Buy” rating and an average target price of $184.15.

Atle Fund Management AB decreased its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 7.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 94,796 shares of the company's stock after selling 7,829 shares during the quarter. Neurocrine Biosciences makes up about 4.3% of Atle Fund Management AB's investment portfolio, making the stock its 5th largest position. Atle Fund Management AB owned approximately 0.10% of Neurocrine Biosciences worth $13,445,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of NBIX. AlTi Global Inc. boosted its position in shares of Neurocrine Biosciences by 1.0% during the third quarter. AlTi Global Inc. now owns 6,828 shares of the company's stock worth $959,000 after buying an additional 70 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in Neurocrine Biosciences by 0.7% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,112 shares of the company's stock valued at $1,560,000 after buying an additional 77 shares during the period. Perigon Wealth Management LLC increased its stake in shares of Neurocrine Biosciences by 3.1% during the fourth quarter. Perigon Wealth Management LLC now owns 2,590 shares of the company's stock worth $367,000 after purchasing an additional 78 shares during the period. Signaturefd LLC increased its stake in shares of Neurocrine Biosciences by 4.5% during the fourth quarter. Signaturefd LLC now owns 1,925 shares of the company's stock worth $273,000 after purchasing an additional 83 shares during the period. Finally, Great Lakes Advisors LLC increased its stake in shares of Neurocrine Biosciences by 2.4% during the third quarter. Great Lakes Advisors LLC now owns 3,605 shares of the company's stock worth $506,000 after purchasing an additional 84 shares during the period. Institutional investors and hedge funds own 92.59% of the company's stock.

Insider Activity

In other news, Director Leslie V. Norwalk sold 3,810 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $155.01, for a total value of $590,588.10. Following the completion of the transaction, the director directly owned 2,429 shares of the company's stock, valued at approximately $376,519.29. This trade represents a 61.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard F. Pops sold 15,000 shares of Neurocrine Biosciences stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $157.65, for a total value of $2,364,750.00. Following the completion of the transaction, the director directly owned 34,480 shares of the company's stock, valued at approximately $5,435,772. This trade represents a 30.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 4.60% of the company's stock.

Neurocrine Biosciences Stock Down 1.8%

Shares of NASDAQ:NBIX opened at $154.36 on Wednesday. The firm has a market cap of $15.52 billion, a P/E ratio of 23.78, a P/E/G ratio of 1.18 and a beta of 0.34. Neurocrine Biosciences, Inc. has a 12-month low of $117.59 and a 12-month high of $162.39. The business has a fifty day simple moving average of $135.12 and a 200 day simple moving average of $138.57.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Piper Sandler increased their target price on Neurocrine Biosciences from $190.00 to $207.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. HC Wainwright increased their price target on Neurocrine Biosciences from $192.00 to $215.00 and gave the stock a "buy" rating in a research report on Tuesday, April 7th. Leerink Partners increased their price target on Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 22nd. BMO Capital Markets reduced their target price on Neurocrine Biosciences from $147.00 to $140.00 and set a "market perform" rating on the stock in a report on Thursday, February 12th. Finally, Wells Fargo & Company reduced their price objective on Neurocrine Biosciences from $180.00 to $175.00 and set an "overweight" rating on the stock in a research note on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Neurocrine Biosciences currently has an average rating of "Moderate Buy" and an average target price of $184.15.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences NASDAQ: NBIX is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine's operations encompass drug discovery, clinical development and commercialization activities.

The company's lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.

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