EntryPoint Capital LLC Purchases New Position in Neurogene Inc. $NGNE

Key Points

• EntryPoint Capital LLC has acquired a new position in Neurogene Inc. by purchasing 12,666 shares valued at approximately $148,000, bringing its ownership to 0.09% of the company.
• The stock has experienced volatility, with a recent performance report showing it opened at $19.99, and a 52-week high of $74.49 compared to a low of $6.88.
• Equities research analysts have given Neurogene a consensus rating of "Moderate Buy" with an average price target of $46.17, indicating potential upside from current levels.

EntryPoint Capital LLC purchased a new stake in shares of Neurogene Inc. (NASDAQ:NGNE - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 12,666 shares of the company's stock, valued at approximately $148,000. EntryPoint Capital LLC owned about 0.09% of Neurogene at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wellington Management Group LLP grew its holdings in shares of Neurogene by 58.5% during the 1st quarter. Wellington Management Group LLP now owns 34,421 shares of the company's stock valued at $403,000 after purchasing an additional 12,704 shares during the last quarter. Nuveen LLC bought a new stake in shares of Neurogene during the 1st quarter valued at approximately $322,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Neurogene by 9.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 11,231 shares of the company's stock valued at $132,000 after purchasing an additional 941 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Neurogene by 12.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,969 shares of the company's stock worth $398,000 after acquiring an additional 3,652 shares during the last quarter. Finally, Raiffeisen Bank International AG grew its holdings in Neurogene by 87.5% during the 1st quarter. Raiffeisen Bank International AG now owns 30,000 shares of the company's stock worth $351,000 after acquiring an additional 14,000 shares during the last quarter. 52.37% of the stock is owned by institutional investors.

Neurogene Stock Performance

NASDAQ:NGNE opened at $19.99 on Monday. The firm's fifty day moving average is $20.28 and its 200-day moving average is $17.33. Neurogene Inc. has a 52 week low of $6.88 and a 52 week high of $74.49. The firm has a market cap of $285.26 million, a P/E ratio of -4.64 and a beta of 1.69.

Neurogene (NASDAQ:NGNE - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported ($1.05) EPS for the quarter, beating analysts' consensus estimates 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 year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. BMO Capital Markets reissued an "outperform" rating and set a $26.00 target price (up from $22.00) on shares of Neurogene in a report on Thursday, June 12th. HC Wainwright reduced their target price on shares of Neurogene from $50.00 to $45.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Craig Hallum assumed coverage on shares of Neurogene in a report on Tuesday, June 17th. They set a "buy" rating and a $50.00 target price on the stock. Baird R W lowered shares of Neurogene from a "strong-buy" rating to a "hold" rating in a report on Friday, May 16th. Finally, Robert W. Baird lowered shares of Neurogene from an "outperform" rating to a "neutral" rating and reduced their target price for the stock from $38.00 to $24.00 in a report on Friday, May 16th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $46.17.

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.

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