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

Two Sigma Investments LP bought a new stake in Neurogene Inc. (NASDAQ:NGNE - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 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 quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. purchased a new stake in Neurogene during the 4th quarter worth about $71,000. Virtus ETF Advisers LLC increased its stake in shares of Neurogene by 45.1% during 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 period. Wells Fargo & Company MN lifted its stake in Neurogene by 34.5% in the fourth quarter. Wells Fargo & Company MN now owns 5,444 shares of the company's stock worth $124,000 after acquiring an additional 1,397 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Neurogene by 72.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,290 shares of the company's stock worth $239,000 after acquiring an additional 4,334 shares during the last quarter. Finally, Mariner LLC acquired a new position in Neurogene during the 4th quarter worth approximately $239,000. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Neurogene Stock Performance

NASDAQ NGNE traded up $1.67 on Tuesday, reaching $21.58. The stock had a trading volume of 128,819 shares, compared to its average volume of 248,829. The stock has a market cap of $307.77 million, a P/E ratio of -4.96 and a beta of 1.57. The business's 50-day moving average price is $14.86 and its 200 day moving average price is $17.60. Neurogene Inc. has a 12-month low of $6.88 and a 12-month high of $74.49.

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). On average, sell-side analysts predict that Neurogene Inc. will post -4.27 earnings per share for the current year.

Insider Buying and Selling at Neurogene

In other Neurogene news, CFO Christine Mikail Cvijic sold 4,501 shares of the 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 transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Stuart Cobb sold 6,797 shares of the stock in a transaction dated 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 owns 20,794 shares in the company, valued at approximately $315,029.10. The trade was a 24.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.64% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NGNE shares. William Blair restated an "outperform" rating on shares of Neurogene in a report on Tuesday, March 25th. BMO Capital Markets lifted their price target on Neurogene from $16.00 to $22.00 and gave the stock an "outperform" rating in a report on Tuesday, May 20th. Robert W. Baird cut Neurogene from an "outperform" rating to a "neutral" rating and lowered their price objective 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 research report on Friday, May 16th. Finally, HC Wainwright decreased their target price on Neurogene from $50.00 to $45.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $44.60.

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.