Walleye Capital LLC Has $1.10 Million Stock Holdings in Neurogene Inc. $NGNE

Key Points

• Walleye Capital LLC increased its ownership in Neurogene Inc. by 25.7%, holding approximately $1.1 million worth of the stock as of the latest SEC filing.
• Neurogene has seen a significant drop in stock price, with a 52-week high of $74.49 and a recent opening price of $18.48, indicating a decline.
• Institutional investors own over 52% of Neurogene's stock, with multiple firms raising their positions significantly during the fourth quarter.

Walleye Capital LLC boosted its position in Neurogene Inc. (NASDAQ:NGNE - Free Report) by 25.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,083 shares of the company's stock after purchasing an additional 19,247 shares during the period. Walleye Capital LLC owned 0.66% of Neurogene worth $1,102,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. RTW Investments LP increased its holdings in Neurogene by 18.9% in the 4th quarter. RTW Investments LP now owns 1,350,256 shares of the company's stock worth $30,867,000 after purchasing an additional 215,000 shares in the last quarter. Redmile Group LLC grew its holdings in 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 last quarter. Casdin Capital LLC grew its holdings in Neurogene by 146.9% during the 4th quarter. Casdin Capital LLC now owns 1,295,361 shares of the company's stock worth $29,612,000 after acquiring an additional 770,745 shares during the last quarter. Baker BROS. Advisors LP grew its holdings in Neurogene by 47.9% during the 4th quarter. Baker BROS. Advisors LP now owns 674,450 shares of the company's stock worth $15,418,000 after acquiring an additional 218,435 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC grew its holdings in Neurogene by 16.1% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 448,601 shares of the company's stock worth $10,255,000 after acquiring an additional 62,136 shares during the last quarter. Institutional investors and hedge funds own 52.37% of the company's stock.

Neurogene Trading Up 2.2%

NASDAQ NGNE traded up $0.43 on Friday, hitting $20.04. 33,193 shares of the company were exchanged, compared to its average volume of 218,666. The company has a market cap of $285.90 million, a PE ratio of -4.65 and a beta of 1.58. Neurogene Inc. has a 12 month low of $6.88 and a 12 month high of $74.49. The stock has a fifty day moving average of $20.58 and a 200-day moving average of $17.39.

Neurogene (NASDAQ:NGNE - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported ($1.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.15) by $0.10. On average, analysts expect that Neurogene Inc. will post -4.27 earnings per share for the current year.

Wall Street Analyst Weigh In

NGNE has been the topic of a number of research reports. Craig Hallum initiated coverage on shares of Neurogene in a report on Tuesday, June 17th. They set a "buy" rating and a $50.00 target price on the stock. BMO Capital Markets reissued an "outperform" rating and set a $26.00 target price (up from $22.00) on shares of Neurogene in a report on Thursday, June 12th. HC Wainwright reduced their target price on shares of Neurogene from $50.00 to $45.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Robert W. Baird lowered shares of Neurogene from an "outperform" rating to a "neutral" rating and reduced their target price 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 research note on Friday, May 16th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Neurogene has an average rating of "Moderate Buy" and an average price target of $46.17.

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.