Neurogene Inc. (NASDAQ:NGNE) Position Increased by Blair William & Co. IL

Key Points

• Blair William & Co. IL increased its stake in Neurogene Inc. by 141.3% during the first quarter, owning approximately 1.06% of the company valued at $1.77 million after acquiring additional shares.
• Multiple institutional investors, including Samsara BioCapital LLC and Casdin Capital LLC, significantly boosted their holdings in Neurogene during the 4th quarter.
• Neurogene's stock has faced downgrades from brokerages, with HC Wainwright lowering its price target from $50 to $45 while maintaining a "buy" rating.

Blair William & Co. IL increased its position in shares of Neurogene Inc. (NASDAQ:NGNE - Free Report) by 141.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 151,180 shares of the company's stock after purchasing an additional 88,540 shares during the quarter. Blair William & Co. IL owned 1.06% of Neurogene worth $1,770,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of NGNE. Samsara BioCapital LLC increased its position in shares of Neurogene by 35.4% during the fourth quarter. Samsara BioCapital LLC now owns 1,717,127 shares of the company's stock worth $39,254,000 after purchasing an additional 449,337 shares in the last quarter. RTW Investments LP boosted its stake in Neurogene by 18.9% during the fourth quarter. RTW Investments LP now owns 1,350,256 shares of the company's stock worth $30,867,000 after buying an additional 215,000 shares during the last quarter. Redmile Group LLC lifted its stake in shares of Neurogene by 36.9% in the 4th quarter. Redmile Group LLC now owns 1,319,763 shares of the company's stock valued at $30,170,000 after purchasing an additional 355,416 shares during the last quarter. Casdin Capital LLC lifted its stake in shares of Neurogene by 146.9% in the 4th quarter. Casdin Capital LLC now owns 1,295,361 shares of the company's stock valued at $29,612,000 after purchasing an additional 770,745 shares during the last quarter. Finally, Baker BROS. Advisors LP lifted its stake in shares of Neurogene by 47.9% in the 4th quarter. Baker BROS. Advisors LP now owns 674,450 shares of the company's stock valued at $15,418,000 after purchasing an additional 218,435 shares during the last quarter. Institutional investors and hedge funds own 52.37% of the company's stock.

Neurogene Stock Performance

Shares of Neurogene stock traded down $0.87 on Monday, reaching $20.35. 133,277 shares of the company were exchanged, compared to its average volume of 232,191. Neurogene Inc. has a 1-year low of $6.88 and a 1-year high of $74.49. The firm has a market cap of $290.23 million, a price-to-earnings ratio of -4.68 and a beta of 1.69. The company's 50-day moving average is $20.40 and its two-hundred day moving average is $17.13.

Neurogene (NASDAQ:NGNE - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The company reported ($1.05) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.15) by $0.10. As a group, sell-side analysts forecast that Neurogene Inc. will post -4.27 earnings per share for the current year.

Insider Activity

In related news, insider Stuart Cobb sold 6,797 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $15.15, for a total transaction of $102,974.55. Following the completion of the sale, the insider directly owned 20,794 shares in the company, valued at approximately $315,029.10. This trade represents a 24.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 11.64% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Baird R W lowered Neurogene from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 16th. BMO Capital Markets reissued an "outperform" rating and issued a $26.00 price target (up from $22.00) on shares of Neurogene in a research report on Thursday, June 12th. Craig Hallum assumed coverage on Neurogene in a research report on Tuesday, June 17th. They issued a "buy" rating and a $50.00 target price for the company. Robert W. Baird downgraded 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. Finally, HC Wainwright lowered their target price on Neurogene from $50.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $46.17.

About Neurogene

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.