Deutsche Bank AG reduced its stake in Neurogene Inc. (NASDAQ:NGNE - Free Report) by 54.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 152,371 shares of the company's stock after selling 181,997 shares during the period. Deutsche Bank AG owned 1.03% of Neurogene worth $3,483,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in NGNE. Wellington Management Group LLP increased its holdings 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 worth $496,000 after acquiring an additional 3,427 shares during the period. PNC Financial Services Group Inc. acquired a new stake in shares of Neurogene in the fourth quarter valued at approximately $71,000. Rhumbline Advisers raised its holdings in shares of Neurogene by 9.2% during the fourth quarter. Rhumbline Advisers now owns 15,704 shares of the company's stock valued at $359,000 after buying an additional 1,326 shares during the last quarter. Mariner LLC acquired a new position in shares of Neurogene during the fourth quarter worth approximately $239,000. Finally, Wells Fargo & Company MN grew its holdings in Neurogene by 34.5% in the 4th quarter. Wells Fargo & Company MN now owns 5,444 shares of the company's stock worth $124,000 after buying an additional 1,397 shares in the last quarter. 52.37% of the stock is owned by institutional investors.
Insider Buying and Selling
In other news, insider Stuart Cobb sold 6,797 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $15.15, for a total transaction of $102,974.55. Following the sale, the insider now owns 20,794 shares in the company, valued at $315,029.10. The trade was a 24.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Christine Mikail Cvijic sold 4,501 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $16.94, for a total transaction of $76,246.94. Following the sale, the chief financial officer now owns 72,343 shares in the company, valued at $1,225,490.42. This represents a 5.86% decrease in their position. The disclosure for this sale can be found here. 11.64% of the stock is currently owned by insiders.
Neurogene Trading Down 4.2%
NGNE stock traded down $0.76 during trading hours on Monday, hitting $17.28. 110,750 shares of the stock traded hands, compared to its average volume of 243,032. The stock has a 50-day simple moving average of $13.66 and a 200 day simple moving average of $18.42. The company has a market cap of $246.45 million, a P/E ratio of -3.97 and a beta of 1.56. 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 posted its quarterly earnings data on Friday, May 9th. The company reported ($1.08) earnings per share for the quarter, missing the consensus estimate of ($1.05) by ($0.03). Analysts forecast that Neurogene Inc. will post -4.27 earnings per share for the current year.
Analyst Ratings Changes
Several analysts have weighed in on the company. Baird R W downgraded Neurogene from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 16th. William Blair restated an "outperform" rating on shares of Neurogene in a research note on Tuesday, March 25th. Robert W. Baird downgraded shares of Neurogene from an "outperform" rating to a "neutral" rating and reduced their price objective for the stock from $38.00 to $24.00 in a report on Friday, May 16th. HC Wainwright decreased their target price on shares of Neurogene from $50.00 to $45.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Finally, BMO Capital Markets boosted their price target on shares of Neurogene from $16.00 to $22.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 20th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Neurogene currently has a consensus rating of "Moderate Buy" and an average target price of $44.60.
Get Our Latest Analysis on Neurogene
Neurogene Profile
(
Free Report)
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.
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