Neurogene Inc. (NASDAQ:NGNE) Shares Acquired by OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Neurogene Inc. (NASDAQ:NGNE - Free Report) by 270.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,734 shares of the company's stock after purchasing an additional 23,907 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.22% of Neurogene worth $748,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of NGNE. Samsara BioCapital LLC lifted its position in Neurogene by 35.4% in the fourth quarter. Samsara BioCapital LLC now owns 1,717,127 shares of the company's stock worth $39,254,000 after buying an additional 449,337 shares during the last quarter. Casdin Capital LLC lifted its holdings in shares of Neurogene by 146.9% in 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 boosted its stake in shares of 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 purchasing an additional 218,435 shares during the period. JPMorgan Chase & Co. grew its holdings in Neurogene by 10,395.3% during the 4th quarter. JPMorgan Chase & Co. now owns 481,001 shares of the company's stock valued at $10,996,000 after purchasing an additional 476,418 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC raised its position in Neurogene by 16.1% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 448,601 shares of the company's stock worth $10,255,000 after purchasing an additional 62,136 shares during the period. Hedge funds and other institutional investors own 52.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Robert W. Baird cut Neurogene from an "outperform" rating to a "neutral" rating and cut their target price for the company from $38.00 to $24.00 in a research note on Friday. William Blair restated an "outperform" rating on shares of Neurogene in a report on Tuesday, March 25th. BMO Capital Markets reduced their price objective on shares of Neurogene from $45.00 to $16.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Finally, HC Wainwright decreased their target price on shares of Neurogene from $50.00 to $45.00 and set a "buy" rating for the company in a research report on Tuesday. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Neurogene presently has an average rating of "Buy" and an average target price of $43.40.

Insider Activity at Neurogene

In related news, insider Stuart Cobb sold 6,797 shares of the firm's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $15.15, for a total transaction of $102,974.55. Following the completion of the transaction, the insider now owns 20,794 shares of the company's stock, valued at $315,029.10. This trade represents a 24.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Christine Mikail Cvijic sold 4,501 shares of the stock in a transaction dated Thursday, March 13th. The stock was 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 $1,225,490.42. This represents a 5.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.64% of the stock is owned by insiders.

Neurogene Trading Down 7.1%

Shares of NGNE stock traded down $1.38 during trading hours on Friday, reaching $17.99. 313,262 shares of the company's stock were exchanged, compared to its average volume of 240,829. Neurogene Inc. has a 1 year low of $6.88 and a 1 year high of $74.49. The stock has a market cap of $256.57 million, a PE ratio of -4.14 and a beta of 1.56. The stock's fifty day moving average price is $13.49 and its two-hundred day moving average price is $20.64.

Neurogene (NASDAQ:NGNE - Get Free Report) last released 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, equities analysts expect that Neurogene Inc. will post -4.27 EPS for the current fiscal year.

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.