Neurogene Inc. $NGNE Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. reduced its stake in Neurogene Inc. by 44.4%, selling 16,882 shares, and now holds approximately 0.15% of the company, valued at $248,000.
• Neurogene's recent earnings report surpassed analyst expectations, posting an EPS of ($1.05) compared to the predicted ($1.15), with forecasts suggesting a projected EPS of -4.27 for the fiscal year.
• Analysts have a generally positive outlook on Neurogene, with a consensus rating of "Moderate Buy" and an average price target of $46.17.

Goldman Sachs Group Inc. reduced its stake in Neurogene Inc. (NASDAQ:NGNE - Free Report) by 44.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,176 shares of the company's stock after selling 16,882 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.15% of Neurogene worth $248,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Two Sigma Investments LP acquired a new position in shares of Neurogene during the 4th quarter valued at about $472,000. Squarepoint Ops LLC raised its stake in Neurogene by 250.0% during the fourth quarter. Squarepoint Ops LLC now owns 17,431 shares of the company's stock worth $398,000 after purchasing an additional 12,451 shares during the period. Wellington Management Group LLP boosted its holdings in Neurogene by 18.7% in the 4th quarter. Wellington Management Group LLP now owns 21,717 shares of the company's stock valued at $496,000 after purchasing an additional 3,427 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Neurogene by 2,985.1% in the 1st quarter. GAMMA Investing LLC now owns 4,134 shares of the company's stock valued at $48,000 after buying an additional 4,000 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Neurogene by 8.2% during the 1st quarter. Bank of New York Mellon Corp now owns 24,445 shares of the company's stock worth $286,000 after buying an additional 1,844 shares during the last quarter. Hedge funds and other institutional investors own 52.37% of the company's stock.

Neurogene Trading Up 2.4%

NGNE stock opened at $17.82 on Monday. The business's fifty day moving average price is $19.88 and its 200 day moving average price is $17.52. Neurogene Inc. has a 12-month low of $6.88 and a 12-month high of $74.49. The company has a market capitalization of $254.29 million, a PE ratio of -4.13 and a beta of 1.58.

Neurogene (NASDAQ:NGNE - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The company reported ($1.05) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.15) by $0.10. Research analysts predict that Neurogene Inc. will post -4.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NGNE has been the topic of a number of recent analyst reports. BMO Capital Markets reiterated an "outperform" rating and issued a $26.00 price objective (up from $22.00) on shares of Neurogene in a report on Thursday, June 12th. Craig Hallum started coverage on Neurogene in a research report on Tuesday, June 17th. They issued a "buy" rating and a $50.00 target price on the stock. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $46.17.

About Neurogene

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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