Neurogene Inc. (NASDAQ:NGNE) Shares Sold by Deutsche Bank AG

Deutsche Bank AG trimmed its holdings in Neurogene Inc. (NASDAQ:NGNE - Free Report) by 54.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 152,371 shares of the company's stock after selling 181,997 shares during the quarter. Deutsche Bank AG owned 1.03% of Neurogene worth $3,483,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in Neurogene by 18.7% during the 4th quarter. Wellington Management Group LLP now owns 21,717 shares of the company's stock worth $496,000 after purchasing an additional 3,427 shares during the period. PNC Financial Services Group Inc. acquired a new stake in Neurogene during the 4th quarter worth about $71,000. Rhumbline Advisers grew its position in Neurogene by 9.2% during the 4th quarter. Rhumbline Advisers now owns 15,704 shares of the company's stock worth $359,000 after purchasing an additional 1,326 shares during the period. Mariner LLC acquired a new stake in Neurogene during the 4th quarter worth about $239,000. Finally, Wells Fargo & Company MN grew its position in Neurogene by 34.5% during the 4th quarter. Wells Fargo & Company MN now owns 5,444 shares of the company's stock worth $124,000 after purchasing an additional 1,397 shares during the period. 52.37% of the stock is owned by institutional investors and hedge funds.

Neurogene Price Performance

Neurogene stock traded down $0.76 during midday trading on Friday, reaching $17.28. The company had a trading volume of 110,750 shares, compared to its average volume of 242,255. The company has a market capitalization of $246.45 million, a P/E ratio of -3.97 and a beta of 1.56. Neurogene Inc. has a 12-month low of $6.88 and a 12-month high of $74.49. The firm's fifty day simple moving average is $13.59 and its 200-day simple moving average is $19.77.

Neurogene (NASDAQ:NGNE - Get Free Report) last issued its quarterly earnings results on Friday, May 9th. The company reported ($1.08) earnings per share for the quarter, missing analysts' consensus estimates of ($1.05) by ($0.03). On average, analysts expect that Neurogene Inc. will post -4.27 EPS for the current fiscal year.

Insider Activity at Neurogene

In other Neurogene news, insider Stuart Cobb sold 6,797 shares of the firm'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 value of $102,974.55. Following the transaction, the insider now directly owns 20,794 shares of the company's stock, valued at $315,029.10. This trade represents a 24.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Christine Mikail Cvijic sold 4,501 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $16.94, for a total transaction of $76,246.94. Following the completion of the transaction, the chief financial officer now directly owns 72,343 shares in the company, valued at $1,225,490.42. This trade represents a 5.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.92% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NGNE. Baird R W lowered shares of Neurogene from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 16th. Robert W. Baird lowered shares of Neurogene from an "outperform" rating to a "neutral" rating and lowered their target price for the stock from $38.00 to $24.00 in a research note on Friday, May 16th. HC Wainwright lowered their target price on shares of Neurogene from $50.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. BMO Capital Markets increased their target price on shares of Neurogene from $16.00 to $22.00 and gave the stock an "outperform" rating in a research note on Tuesday. Finally, William Blair reissued an "outperform" rating on shares of Neurogene in a research note on Tuesday, March 25th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $44.60.

Neurogene Company 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.