Bank of New York Mellon Corp Purchases New Position in Neurogene Inc. $NGNE

Key Points

• Bank of New York Mellon acquired 28,741 Neurogene shares worth approximately $904,000, representing about 0.18% of the company. Institutional investors collectively own 52.37% of NGNE.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $83.67, despite some target-price reductions and one sell rating.
• Neurogene reported a quarterly loss of $1.53 per share, missing estimates of a $1.42 loss. The stock opened at $36.12, while the CFO and other insiders have sold 9,600 shares worth roughly $339,932 over the past 90 days.

Bank of New York Mellon Corp acquired a new position in shares of Neurogene Inc. (NASDAQ:NGNE - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 28,741 shares of the company's stock, valued at approximately $904,000. Bank of New York Mellon Corp owned about 0.18% of Neurogene at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. State of Wyoming bought a new stake in shares of Neurogene in the 2nd quarter valued at $31,000. BNP Paribas Financial Markets grew its stake in Neurogene by 89.8% in the third quarter. BNP Paribas Financial Markets now owns 2,067 shares of the company's stock valued at $36,000 after acquiring an additional 978 shares during the period. Daiwa Securities Group Inc. acquired a new position in Neurogene in the fourth quarter valued at about $66,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Neurogene by 17.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,983 shares of the company's stock worth $82,000 after acquiring an additional 1,059 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Neurogene in the fourth quarter worth about $165,000. Institutional investors own 52.37% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on NGNE. UBS Group set a $70.00 price objective on Neurogene in a report on Wednesday, June 3rd. Weiss Ratings reissued a "sell (d-)" rating on shares of Neurogene in a research note on Friday, July 17th. Guggenheim raised their target price on shares of Neurogene from $69.00 to $81.00 and gave the stock a "buy" rating in a report on Wednesday, August 12th. HC Wainwright cut their price target on shares of Neurogene from $70.00 to $65.00 and set a "buy" rating on the stock in a research note on Wednesday, August 12th. Finally, Canaccord Genuity Group cut their price target on shares of Neurogene from $180.00 to $166.00 and set a "buy" rating on the stock in a research note on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.67.

Insider Activity at Neurogene

In other news, CFO Christine Cvijic sold 4,200 shares of the business's stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $36.13, for a total value of $151,746.00. Following the sale, the chief financial officer owned 84,040 shares of the company's stock, valued at $3,036,365.20. The trade was a 4.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 9,600 shares of company stock valued at $339,932 over the last 90 days. Insiders own 11.68% of the company's stock.

Neurogene Stock Performance

NASDAQ:NGNE opened at $36.12 on Friday. The company has a market cap of $722.76 million, a PE ratio of -7.18 and a beta of 1.69. Neurogene Inc. has a 52-week low of $15.93 and a 52-week high of $43.66. The stock has a 50-day simple moving average of $36.83 and a 200 day simple moving average of $29.66.

Neurogene (NASDAQ:NGNE - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($1.53) earnings per share for the quarter, missing analysts' consensus estimates of ($1.42) by ($0.11). On average, research analysts predict that Neurogene Inc. will post -5.62 earnings per share for the current fiscal year.

Neurogene Profile

Neurogene, Inc is a clinical‐stage biotechnology company specializing in the development of gene therapies for rare neurological diseases. The company's lead platform employs adeno‐associated virus (AAV) vectors designed to deliver functional copies of disease-causing genes directly to the central nervous system. Neurogene's pipeline focuses on inherited lysosomal storage disorders, including investigational programs for GM1 and GM2 gangliosidoses, with additional preclinical efforts targeting other monogenic neurodegenerative conditions.

Neurogene's proprietary AAV9‐based delivery system has been engineered to cross the blood-brain barrier, aiming to provide durable gene expression in affected tissues.

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