Raiffeisen Bank International AG Grows Holdings in Neurogene Inc. (NASDAQ:NGNE)

Key Points

• Raiffeisen Bank International AG increased its stake in Neurogene Inc. by 87.5%, now owning 30,000 shares worth $351,000.
• Neurogene's stock has been volatile, currently trading at $21.45, with a twelve-month range between $6.88 and $74.49.
• Analysts have varying ratings for Neurogene, with a consensus rating of "Moderate Buy" and an average target price of $46.17.

Raiffeisen Bank International AG raised its holdings in Neurogene Inc. (NASDAQ:NGNE - Free Report) by 87.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,000 shares of the company's stock after buying an additional 14,000 shares during the period. Raiffeisen Bank International AG owned approximately 0.21% of Neurogene worth $351,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Virtus ETF Advisers LLC boosted its position in Neurogene by 45.1% in the 4th quarter. Virtus ETF Advisers LLC now owns 3,183 shares of the company's stock valued at $73,000 after buying an additional 989 shares during the period. GAMMA Investing LLC lifted its position in shares of Neurogene by 2,985.1% during the 1st quarter. GAMMA Investing LLC now owns 4,134 shares of the company's stock worth $48,000 after purchasing an additional 4,000 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of 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 last quarter. Mariner LLC purchased a new stake in shares of Neurogene during the 4th quarter worth $239,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Neurogene during the 4th quarter worth $322,000. Hedge funds and other institutional investors own 52.37% of the company's stock.

Neurogene Trading Down 1.1%

Shares of NGNE stock traded down $0.24 during trading hours on Friday, hitting $21.22. The company's stock had a trading volume of 66,517 shares, compared to its average volume of 117,906. The business has a fifty day moving average of $20.40 and a 200-day moving average of $17.12. The stock has a market cap of $302.60 million, a price-to-earnings ratio of -4.88 and a beta of 1.69. Neurogene Inc. has a twelve month low of $6.88 and a twelve month high of $74.49.

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NGNE. HC Wainwright decreased their price objective on shares of Neurogene from $50.00 to $45.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Craig Hallum began coverage on shares of Neurogene in a research note on Tuesday, June 17th. They issued a "buy" rating and a $50.00 price objective on the stock. Baird R W cut shares of Neurogene from a "strong-buy" rating to a "hold" rating in a report on Friday, May 16th. BMO Capital Markets reissued an "outperform" rating and set a $26.00 price target (up from $22.00) on shares of Neurogene in a report on Thursday, June 12th. Finally, 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 report on Friday, May 16th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $46.17.

Insider Transactions at Neurogene

In related 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 transaction of $102,974.55. Following the sale, the insider owned 20,794 shares in the company, valued at approximately $315,029.10. This trade represents a 24.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 11.64% of the company's stock.

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.