Jennison Associates LLC Increases Holdings in Neurogene Inc. $NGNE

Key Points

• Jennison Associates LLC increased its Neurogene stake by 35.3% in Q4 to 533,088 shares (3.44% ownership), worth about $10.98 million, while hedge funds and other institutions now own 52.37% of the company.
• Two insiders — director Stuart Cobb and CFO Christine Mikail Cvijic — sold 6,797 and 4,045 shares respectively on March 13, generating roughly $225,622 in combined proceeds and reducing their holdings.
• Wall Street consensus rates Neurogene a "Moderate Buy" with an average price target of $67, reflecting mixed analyst views (1 Strong Buy, 5 Buy, 1 Hold, 1 Sell).

Jennison Associates LLC raised its position in Neurogene Inc. (NASDAQ:NGNE - Free Report) by 35.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 533,088 shares of the company's stock after purchasing an additional 138,999 shares during the quarter. Jennison Associates LLC owned 3.44% of Neurogene worth $10,982,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised 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 purchasing an additional 978 shares during the period. PNC Financial Services Group Inc. raised its position in Neurogene by 24.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,055 shares of the company's stock worth $88,000 after purchasing an additional 1,000 shares during the period. ADAR1 Capital Management LLC raised its position in Neurogene by 3.4% in the 3rd quarter. ADAR1 Capital Management LLC now owns 30,633 shares of the company's stock worth $531,000 after purchasing an additional 1,008 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Neurogene by 17.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,983 shares of the company's stock worth $82,000 after purchasing an additional 1,059 shares during the period. Finally, Raiffeisen Bank International AG raised its position in Neurogene by 13.3% in the 3rd quarter. Raiffeisen Bank International AG now owns 34,000 shares of the company's stock worth $602,000 after purchasing an additional 4,000 shares during the period. 52.37% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Neurogene

In other news, insider Stuart Cobb sold 6,797 shares of the company's stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $20.81, for a total value of $141,445.57. Following the completion of the sale, the insider owned 30,497 shares of the company's stock, valued at approximately $634,642.57. This represents a 18.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Christine Mikail Cvijic sold 4,045 shares of the company's stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $20.81, for a total transaction of $84,176.45. Following the completion of the sale, the chief financial officer directly owned 105,798 shares of the company's stock, valued at $2,201,656.38. The trade was a 3.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 11.64% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Neurogene in a research note on Tuesday, April 21st. HC Wainwright reissued a "buy" rating and set a $70.00 target price on shares of Neurogene in a research note on Tuesday, January 13th. Canaccord Genuity Group lowered their target price on shares of Neurogene to $180.00 and set a "buy" rating for the company in a research note on Monday, April 6th. Lifesci Capital assumed coverage on shares of Neurogene in a research note on Monday, January 26th. They issued an "outperform" rating and a $50.00 target price on the stock. Finally, Guggenheim assumed coverage on shares of Neurogene in a research note on Tuesday. They issued a "buy" rating and a $69.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $67.00.

Neurogene Price Performance

Shares of NGNE stock opened at $26.85 on Friday. The company has a market capitalization of $419.40 million, a P/E ratio of -6.33 and a beta of 1.69. The company's 50-day simple moving average is $22.29 and its two-hundred day simple moving average is $22.18. Neurogene Inc. has a one year low of $11.77 and a one year high of $37.27.

Neurogene (NASDAQ:NGNE - Get Free Report) last issued its earnings results on Tuesday, March 24th. The company reported ($1.12) EPS for the quarter, topping analysts' consensus estimates of ($1.20) by $0.08. On average, research analysts expect that Neurogene Inc. will post -5.35 EPS for the current fiscal year.

Neurogene Company Profile

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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