Raiffeisen Bank International AG Makes New Investment in Neurogene Inc. (NASDAQ:NGNE)

Raiffeisen Bank International AG acquired a new position in shares of Neurogene Inc. (NASDAQ:NGNE - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 16,000 shares of the company's stock, valued at approximately $356,000. Raiffeisen Bank International AG owned 0.11% of Neurogene at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. PNC Financial Services Group Inc. purchased a new position in shares of Neurogene in the fourth quarter worth approximately $71,000. China Universal Asset Management Co. Ltd. acquired a new position in Neurogene in the 4th quarter worth approximately $72,000. Virtus ETF Advisers LLC grew its position in Neurogene by 45.1% during the 4th quarter. Virtus ETF Advisers LLC now owns 3,183 shares of the company's stock worth $73,000 after purchasing an additional 989 shares in the last quarter. Wells Fargo & Company MN raised its stake in Neurogene by 34.5% during the 4th quarter. Wells Fargo & Company MN now owns 5,444 shares of the company's stock valued at $124,000 after purchasing an additional 1,397 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Neurogene by 72.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,290 shares of the company's stock valued at $239,000 after purchasing an additional 4,334 shares during the period. Institutional investors and hedge funds own 52.37% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NGNE. William Blair reaffirmed an "outperform" rating on shares of Neurogene in a research report on Tuesday, March 25th. Robert W. Baird downgraded Neurogene from an "outperform" rating to a "neutral" rating and reduced their price objective for the stock from $38.00 to $24.00 in a research note on Friday, May 16th. HC Wainwright decreased their price objective on Neurogene from $50.00 to $45.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. BMO Capital Markets lifted their target price on Neurogene from $16.00 to $22.00 and gave the company an "outperform" rating in a research note on Tuesday. Finally, Baird R W lowered shares of Neurogene from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 16th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $44.60.

Insider Buying and Selling

In related news, insider Stuart Cobb sold 6,797 shares of Neurogene stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $15.15, for a total value of $102,974.55. Following the completion of the sale, the insider now owns 20,794 shares of the company's stock, valued at approximately $315,029.10. The trade was a 24.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Christine Mikail Cvijic sold 4,501 shares of the company's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $16.94, for a total transaction of $76,246.94. Following the completion of the sale, the chief financial officer now owns 72,343 shares of the company's stock, valued at $1,225,490.42. This represents a 5.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.92% of the stock is currently owned by corporate insiders.

Neurogene Stock Performance

Shares of NASDAQ:NGNE traded down $0.93 during midday trading on Friday, hitting $17.12. 16,195 shares of the stock were exchanged, compared to its average volume of 241,083. The company has a market capitalization of $244.09 million, a PE ratio of -3.93 and a beta of 1.56. Neurogene Inc. has a 52-week low of $6.88 and a 52-week high of $74.49. The business's fifty day simple moving average is $13.59 and its two-hundred day simple moving average is $19.77.

Neurogene (NASDAQ:NGNE - Get Free Report) last issued its earnings results on Friday, May 9th. The company reported ($1.08) earnings per share for the quarter, missing the consensus estimate of ($1.05) by ($0.03). As a group, equities analysts anticipate that Neurogene Inc. will post -4.27 EPS for the current year.

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.