Deutsche Bank AG Buys Shares of 106,660 Neurogene Inc. $NGNE

Key Points

• Deutsche Bank acquired 106,660 Neurogene shares worth approximately $3.35 million, giving it a 0.68% stake. Hedge funds and other institutional investors collectively own 52.37% of the company.
• Neurogene reported quarterly EPS of -$1.53, missing the consensus estimate of -$1.42. The stock opened at $38.41, with a one-year range of $15.93 to $43.66.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $83.67, although targets range widely and Weiss Ratings maintains a sell rating.

Deutsche Bank AG bought a new stake in Neurogene Inc. (NASDAQ:NGNE - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 106,660 shares of the company's stock, valued at approximately $3,354,000. Deutsche Bank AG owned 0.68% of Neurogene at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. State of Wyoming purchased a new position in Neurogene during the second quarter valued at approximately $31,000. BNP Paribas Financial Markets lifted its position in Neurogene by 89.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,067 shares of the company's stock worth $36,000 after buying an additional 978 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Neurogene during the 4th quarter valued at $66,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Neurogene during the 2nd quarter valued at $192,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 during the last quarter. 52.37% of the stock is owned by hedge funds and other institutional investors.

Neurogene Price Performance

Neurogene stock opened at $38.41 on Thursday. Neurogene Inc. has a one year low of $15.93 and a one year high of $43.66. The company's fifty day moving average price is $35.58 and its two-hundred day moving average price is $28.09. The company has a market capitalization of $768.58 million, a price-to-earnings ratio of -7.64 and a beta of 1.70.

Neurogene (NASDAQ:NGNE - Get Free Report) last announced 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). As a group, sell-side analysts anticipate that Neurogene Inc. will post -5.62 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on NGNE. Canaccord Genuity Group reduced their price objective on 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 Neurogene in a research report on Wednesday, June 3rd. They issued a "buy" rating and a $70.00 target price on the stock. UBS Group set a $70.00 price target on Neurogene in a research note on Wednesday, June 3rd. Guggenheim boosted their price target on Neurogene from $69.00 to $81.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Neurogene in a report on Friday, July 17th. 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 company's stock. According to data from MarketBeat, Neurogene currently has an average rating of "Moderate Buy" and a consensus target price of $83.67.

Insiders Place Their Bets

In other Neurogene news, CFO Christine Mikail Cvijic sold 4,200 shares of the company's stock in a transaction that occurred on Tuesday, July 7th. The stock was 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 owned 84,040 shares of the company's stock, valued at $3,036,365.20. This represents a 4.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 9,600 shares of company stock valued at $339,932. 11.68% of the stock is currently owned by insiders.

About Neurogene

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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