Jennison Associates LLC boosted its position in shares of Neurogene Inc. (NASDAQ:NGNE - Free Report) by 48.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 108,084 shares of the company's stock after purchasing an additional 35,488 shares during the period. Jennison Associates LLC owned 0.76% of Neurogene worth $1,266,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NGNE. Samsara BioCapital LLC lifted its position in Neurogene by 35.4% in the 4th quarter. Samsara BioCapital LLC now owns 1,717,127 shares of the company's stock worth $39,254,000 after buying an additional 449,337 shares in the last quarter. RTW Investments LP raised its holdings in shares of Neurogene by 18.9% during the 4th quarter. RTW Investments LP now owns 1,350,256 shares of the company's stock valued at $30,867,000 after purchasing an additional 215,000 shares in the last quarter. Redmile Group LLC raised its holdings in shares of Neurogene by 36.9% during the 4th quarter. Redmile Group LLC now owns 1,319,763 shares of the company's stock valued at $30,170,000 after purchasing an additional 355,416 shares in the last quarter. Casdin Capital LLC raised its holdings in shares of Neurogene by 146.9% during the 4th quarter. Casdin Capital LLC now owns 1,295,361 shares of the company's stock valued at $29,612,000 after purchasing an additional 770,745 shares in the last quarter. Finally, Baker BROS. Advisors LP raised its holdings in shares of Neurogene by 47.9% during the 4th quarter. Baker BROS. Advisors LP now owns 674,450 shares of the company's stock valued at $15,418,000 after purchasing an additional 218,435 shares in the last quarter. 52.37% of the stock is currently owned by hedge funds and other institutional investors.
Neurogene Stock Down 0.4%
NASDAQ NGNE traded down $0.09 during midday trading on Friday, hitting $22.72. The company had a trading volume of 75,610 shares, compared to its average volume of 212,549. The stock has a market cap of $323.99 million, a price-to-earnings ratio of -5.22 and a beta of 1.51. The firm has a fifty day simple moving average of $19.68 and a two-hundred day simple moving average of $16.90. Neurogene Inc. has a fifty-two week low of $6.88 and a fifty-two week high of $74.49.
Neurogene (NASDAQ:NGNE - Get Free Report) last posted its quarterly earnings results on Friday, May 9th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.05) by ($0.03). As a group, equities analysts predict that Neurogene Inc. will post -4.27 earnings per share for the current year.
Insider Transactions at Neurogene
In other news, insider Stuart Cobb sold 6,797 shares of Neurogene stock in a transaction dated 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 directly owned 20,794 shares in the company, valued at approximately $315,029.10. The trade was a 24.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 11.64% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on NGNE shares. Robert W. Baird downgraded shares of Neurogene from an "outperform" rating to a "neutral" rating and cut their price target for the company from $38.00 to $24.00 in a report on Friday, May 16th. BMO Capital Markets restated an "outperform" rating and set a $26.00 price target (up previously from $22.00) on shares of Neurogene in a report on Thursday, June 12th. Baird R W downgraded shares of Neurogene from a "strong-buy" rating to a "hold" rating in a report 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. Finally, Craig Hallum started coverage on shares of Neurogene in a research note on Tuesday, June 17th. They issued a "buy" rating and a $50.00 target price on the stock. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $46.17.
Read Our Latest Research Report on Neurogene
Neurogene Company 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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