20,629 Shares in Neurogene Inc. (NASDAQ:NGNE) Bought by Two Sigma Investments LP

Two Sigma Investments LP purchased a new position in shares of Neurogene Inc. (NASDAQ:NGNE - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 20,629 shares of the company's stock, valued at approximately $472,000. Two Sigma Investments LP owned 0.14% of Neurogene at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. RTW Investments LP lifted its holdings in Neurogene by 18.9% during the 4th quarter. RTW Investments LP now owns 1,350,256 shares of the company's stock worth $30,867,000 after buying an additional 215,000 shares during the last quarter. Raiffeisen Bank International AG acquired a new position in shares of Neurogene in the fourth quarter valued at $356,000. Redmile Group LLC lifted its holdings in shares of Neurogene by 36.9% during the 4th quarter. Redmile Group LLC now owns 1,319,763 shares of the company's stock worth $30,170,000 after acquiring an additional 355,416 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Neurogene by 270.8% during the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 32,734 shares of the company's stock worth $748,000 after purchasing an additional 23,907 shares during the period. Finally, Octagon Capital Advisors LP boosted its stake in Neurogene by 1,920.0% in the 4th quarter. Octagon Capital Advisors LP now owns 303,000 shares of the company's stock valued at $6,927,000 after buying an additional 288,000 shares in the last quarter. 52.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NGNE has been the topic of several research analyst reports. HC Wainwright decreased their price objective on shares of Neurogene from $50.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. William Blair reiterated an "outperform" rating on shares of Neurogene in a research report on Tuesday, March 25th. BMO Capital Markets lifted their price objective on shares of Neurogene from $22.00 to $26.00 and gave the stock an "outperform" rating in a research note on Thursday. 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 report on Friday, May 16th. Finally, Baird R W lowered shares of Neurogene from a "strong-buy" rating to a "hold" rating in a report on Friday, May 16th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, Neurogene currently has a consensus rating of "Moderate Buy" and a consensus price target of $45.40.

Neurogene Price Performance

NGNE stock traded down $0.64 during mid-day trading on Friday, reaching $19.76. The company had a trading volume of 112,718 shares, compared to its average volume of 249,900. Neurogene Inc. has a 52 week low of $6.88 and a 52 week high of $74.49. The stock has a 50 day simple moving average of $15.59 and a two-hundred day simple moving average of $17.64. The company has a market capitalization of $281.82 million, a price-to-earnings ratio of -4.54 and a beta of 1.57.

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

Insider Buying and Selling at Neurogene

In other Neurogene news, insider Stuart Cobb sold 6,797 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $15.15, for a total transaction of $102,974.55. Following the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.