The Manufacturers Life Insurance Company purchased a new stake in shares of Neurogene Inc. (NASDAQ:NGNE - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 14,079 shares of the company's stock, valued at approximately $322,000. The Manufacturers Life Insurance Company owned about 0.09% of Neurogene as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of the stock. Virtus ETF Advisers LLC boosted its stake in shares of Neurogene by 45.1% in the fourth quarter. Virtus ETF Advisers LLC now owns 3,183 shares of the company's stock worth $73,000 after buying an additional 989 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in shares of Neurogene in the fourth quarter worth about $2,819,000. Rock Springs Capital Management LP purchased a new stake in shares of Neurogene in the fourth quarter worth about $2,181,000. Walleye Capital LLC boosted its stake in shares of Neurogene by 68.2% in the fourth quarter. Walleye Capital LLC now owns 74,836 shares of the company's stock worth $1,711,000 after buying an additional 30,336 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Neurogene in the fourth quarter worth about $349,000. Hedge funds and other institutional investors own 52.37% of the company's stock.
Insider Activity at Neurogene
In related news, insider Stuart Cobb sold 6,797 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was 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. This trade represents a 24.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christine Mikail Cvijic sold 4,501 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $16.94, for a total value of $76,246.94. Following the completion of the sale, the chief financial officer now directly owns 72,343 shares of the company's stock, valued at approximately $1,225,490.42. This represents a 5.86% decrease in their position. The disclosure for this sale can be found here. Insiders own 9.92% of the company's stock.
Neurogene Stock Down 4.2%
Shares of Neurogene stock traded down $0.76 during mid-day trading on Friday, reaching $17.28. 110,750 shares of the stock traded hands, compared to its average volume of 242,255. The business has a 50-day moving average of $13.62 and a 200 day moving average of $19.44. Neurogene Inc. has a fifty-two week low of $6.88 and a fifty-two week high of $74.49. The stock has a market capitalization of $246.45 million, a PE ratio of -3.97 and a beta of 1.56.
Neurogene (NASDAQ:NGNE - Get Free Report) last announced its earnings results on Friday, May 9th. The company reported ($1.08) EPS for the quarter, missing analysts' consensus estimates of ($1.05) by ($0.03). On average, equities research analysts expect that Neurogene Inc. will post -4.27 EPS for the current fiscal year.
Analyst Ratings Changes
A number of equities analysts have issued reports on the company. HC Wainwright lowered their price target on Neurogene from $50.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. BMO Capital Markets increased their price target on Neurogene from $16.00 to $22.00 and gave the stock an "outperform" rating in a research report on Tuesday. William Blair reiterated an "outperform" rating on shares of Neurogene in a research report on Tuesday, March 25th. Baird R W downgraded Neurogene from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 16th. Finally, Robert W. Baird downgraded Neurogene from an "outperform" rating to a "neutral" rating and lowered their price target for the stock from $38.00 to $24.00 in a research report on Friday, May 16th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $44.60.
Check Out Our Latest Stock Analysis on NGNE
Neurogene Profile
(
Free Report)
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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