BlackRock Inc. Invests $33.27 Million in Neurogene Inc. $NGNE

Key Points

• BlackRock acquired 1,057,983 Neurogene shares worth approximately $33.27 million, giving it a 6.70% stake in the clinical-stage biotech.
• Institutional investors collectively own 52.37% of Neurogene, while company insiders own 11.68%; the CFO recently sold 4,200 shares under a pre-arranged Rule 10b5-1 trading plan.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $83.67, although Neurogene recently missed quarterly EPS estimates, reporting a loss of $1.53 per share versus expectations of $1.42.

BlackRock Inc. acquired a new position in shares of Neurogene Inc. (NASDAQ:NGNE - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,057,983 shares of the company's stock, valued at approximately $33,274,000. BlackRock Inc. owned about 6.70% of Neurogene at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State of Wyoming acquired a new stake in Neurogene during the 2nd quarter valued at $31,000. BNP Paribas Financial Markets increased its position in Neurogene by 89.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,067 shares of the company's stock worth $36,000 after purchasing an additional 978 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in Neurogene in the 4th quarter valued at about $66,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Neurogene in the 2nd quarter valued at about $192,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Neurogene by 17.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,983 shares of the company's stock worth $82,000 after purchasing an additional 1,059 shares during the last quarter. Hedge funds and other institutional investors own 52.37% of the company's stock.

Insider Buying and Selling at Neurogene

In other news, CFO Christine Mikail 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 transaction of $151,746.00. Following the completion of the sale, the chief financial officer directly owned 84,040 shares of the company's stock, valued at $3,036,365.20. The trade was a 4.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 9,600 shares of company stock valued at $339,932. 11.68% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

NGNE has been the subject of a number of analyst reports. Canaccord Genuity Group cut their price objective on shares of Neurogene from $180.00 to $166.00 and set a "buy" rating for the company in a research report on Wednesday, August 12th. Rodman & Renshaw started coverage on shares of Neurogene in a research note on Wednesday, June 3rd. They issued a "buy" rating and a $70.00 target price for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Neurogene in a report on Friday, July 17th. UBS Group set a $70.00 price target on Neurogene in a research note on Wednesday, June 3rd. Finally, HC Wainwright decreased their price objective on Neurogene from $70.00 to $65.00 and set a "buy" rating on the stock in a report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.67.

Neurogene Price Performance

Shares of NGNE stock opened at $37.87 on Wednesday. The firm has a market cap of $757.78 million, a P/E ratio of -7.53 and a beta of 1.69. Neurogene Inc. has a 1-year low of $15.93 and a 1-year high of $43.66. The firm's 50-day simple moving average is $36.03 and its 200-day simple moving average is $28.65.

Neurogene (NASDAQ:NGNE - Get Free Report) last released its earnings results on Tuesday, August 11th. The company reported ($1.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.42) by ($0.11). Analysts expect 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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