Blair William & Co. IL Boosts Stock Holdings in Neurogene Inc. (NASDAQ:NGNE)

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 grew its holdings in Neurogene Inc. (NASDAQ:NGNE - Free Report) by 141.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 about 1.06% of Neurogene worth $1,770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Virtus ETF Advisers LLC lifted its stake in shares of Neurogene by 45.1% in the 4th quarter. Virtus ETF Advisers LLC now owns 3,183 shares of the company's stock valued at $73,000 after purchasing an additional 989 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Neurogene by 34.5% in the 4th quarter. Wells Fargo & Company MN now owns 5,444 shares of the company's stock valued at $124,000 after purchasing an additional 1,397 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Neurogene by 8.2% in the 1st quarter. Bank of New York Mellon Corp now owns 24,445 shares of the company's stock valued at $286,000 after purchasing an additional 1,844 shares during the period. Barclays PLC lifted its stake in shares of Neurogene by 18.0% in the 4th quarter. Barclays PLC now owns 17,533 shares of the company's stock valued at $401,000 after purchasing an additional 2,674 shares during the period. Finally, Wellington Management Group LLP lifted its stake in shares of Neurogene by 18.7% in the 4th quarter. Wellington Management Group LLP now owns 21,717 shares of the company's stock valued at $496,000 after purchasing an additional 3,427 shares during the period. 52.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NGNE has been the topic of a number of recent analyst reports. Robert W. Baird downgraded Neurogene from an "outperform" rating to a "neutral" rating and dropped their price objective for the company from $38.00 to $24.00 in a research note on Friday, May 16th. HC Wainwright decreased their target price on Neurogene from $50.00 to $45.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Craig Hallum started 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. BMO Capital Markets reaffirmed an "outperform" rating and issued a $26.00 target price (up from $22.00) on shares of Neurogene in a research report on Thursday, June 12th. Finally, Baird R W lowered Neurogene from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 16th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $46.17.

Neurogene Stock Performance

NGNE traded up $1.44 during midday trading on Wednesday, reaching $20.66. 57,204 shares of the company were exchanged, compared to its average volume of 230,473. The company's fifty day moving average price is $20.43 and its 200 day moving average price is $17.18. The company has a market cap of $294.54 million, a price-to-earnings ratio of -4.79 and a beta of 1.69. Neurogene Inc. has a one year low of $6.88 and a one year high of $74.49.

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

Neurogene Profile

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.