JPMorgan Chase & Co. lifted its position in Neurogene Inc. (NASDAQ:NGNE - Free Report) by 10,395.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 481,001 shares of the company's stock after acquiring an additional 476,418 shares during the period. JPMorgan Chase & Co. owned about 3.24% of Neurogene worth $10,996,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in Neurogene by 2.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 30,317 shares of the company's stock worth $1,272,000 after buying an additional 741 shares in the last quarter. Rhumbline Advisers lifted its holdings in Neurogene by 9.2% in the 4th quarter. Rhumbline Advisers now owns 15,704 shares of the company's stock worth $359,000 after purchasing an additional 1,326 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Neurogene by 192.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,170 shares of the company's stock worth $91,000 after buying an additional 1,429 shares during the period. PNC Financial Services Group Inc. acquired a new stake in shares of Neurogene in the fourth quarter worth $71,000. Finally, China Universal Asset Management Co. Ltd. bought a new position in shares of Neurogene during the 4th quarter worth about $72,000. Hedge funds and other institutional investors own 52.37% of the company's stock.
Insider Buying and Selling at Neurogene
In other Neurogene news, CFO Christine Mikail Cvijic sold 4,501 shares of Neurogene stock in a transaction 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 sale, the chief financial officer now directly owns 72,343 shares in the company, valued at approximately $1,225,490.42. The trade was a 5.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.92% of the company's stock.
Analysts Set New Price Targets
Several analysts have recently commented on NGNE shares. William Blair restated an "outperform" rating on shares of Neurogene in a report on Tuesday, March 25th. BMO Capital Markets decreased their price objective on Neurogene from $45.00 to $16.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Robert W. Baird set a $38.00 target price on Neurogene in a report on Tuesday, March 25th. Finally, HC Wainwright lowered their price target on Neurogene from $55.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, March 25th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Neurogene currently has a consensus rating of "Buy" and an average price target of $47.20.
Check Out Our Latest Report on NGNE
Neurogene Stock Up 6.7 %
Shares of NGNE traded up $0.72 on Friday, hitting $11.49. The company's stock had a trading volume of 190,038 shares, compared to its average volume of 226,371. The firm's fifty day moving average price is $14.33 and its 200-day moving average price is $25.17. Neurogene Inc. has a fifty-two week low of $6.88 and a fifty-two week high of $74.49. The firm has a market capitalization of $171.55 million, a price-to-earnings ratio of -2.69 and a beta of 1.46.
Neurogene (NASDAQ:NGNE - Get Free Report) last issued its quarterly earnings data on Monday, March 24th. The company reported ($0.99) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.04) by $0.05. The company had revenue of $0.93 million for the quarter. As a group, equities analysts predict that Neurogene Inc. will post -4.27 earnings per share for the current fiscal year.
Neurogene Profile
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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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