Neurogene Inc. (NASDAQ:NGNE) Shares Purchased by Squarepoint Ops LLC

Squarepoint Ops LLC raised its holdings in shares of Neurogene Inc. (NASDAQ:NGNE - Free Report) by 250.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 17,431 shares of the company's stock after purchasing an additional 12,451 shares during the period. Squarepoint Ops LLC owned 0.12% of Neurogene worth $398,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NGNE. Rhumbline Advisers raised its position in shares of Neurogene by 9.2% in the 4th quarter. Rhumbline Advisers now owns 15,704 shares of the company's stock worth $359,000 after acquiring an additional 1,326 shares in the last quarter. M&T Bank Corp purchased a new position in Neurogene in the fourth quarter valued at about $323,000. PNC Financial Services Group Inc. bought a new position in Neurogene in the fourth quarter worth about $71,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Neurogene by 72.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,290 shares of the company's stock valued at $239,000 after buying an additional 4,334 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Neurogene by 10,395.3% during the fourth quarter. JPMorgan Chase & Co. now owns 481,001 shares of the company's stock valued at $10,996,000 after buying an additional 476,418 shares during the last quarter. Institutional investors own 52.37% of the company's stock.

Neurogene Price Performance

Neurogene stock traded down $1.92 during mid-day trading on Monday, reaching $19.91. 245,709 shares of the company traded hands, compared to its average volume of 249,310. The firm's fifty day moving average is $14.67 and its two-hundred day moving average is $17.60. The company has a market capitalization of $283.96 million, a price-to-earnings ratio of -4.58 and a beta of 1.57. 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 released its 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 research analysts predict that Neurogene Inc. will post -4.27 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Christine Mikail Cvijic sold 4,501 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $16.94, for a total value of $76,246.94. Following the completion of the transaction, the chief financial officer now owns 72,343 shares of the company's stock, valued at $1,225,490.42. The trade was a 5.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Stuart Cobb sold 6,797 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $15.15, for a total value of $102,974.55. Following the sale, the insider now directly owns 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 disclosure for this sale can be found here. Corporate insiders own 11.64% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. William Blair reaffirmed an "outperform" rating on shares of Neurogene in a research report on Tuesday, March 25th. HC Wainwright lowered their target price on shares of Neurogene from $50.00 to $45.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Robert W. Baird downgraded Neurogene from an "outperform" rating to a "neutral" rating and reduced their price target for the stock from $38.00 to $24.00 in a research report on Friday, May 16th. Baird R W lowered Neurogene from a "strong-buy" rating to a "hold" rating in a report on Friday, May 16th. Finally, BMO Capital Markets boosted their target price on Neurogene from $16.00 to $22.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 20th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $44.60.

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.