OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $748,000 Stock Position in Neurogene Inc. (NASDAQ:NGNE)

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Neurogene Inc. (NASDAQ:NGNE - Free Report) by 270.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,734 shares of the company's stock after acquiring an additional 23,907 shares during the quarter. 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 quarter.

A number of other hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. bought a new stake in Neurogene during the fourth quarter worth about $71,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Neurogene in the fourth quarter worth approximately $72,000. Virtus ETF Advisers LLC boosted its position 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 acquiring an additional 989 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Neurogene by 34.5% during 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. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Neurogene by 72.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,290 shares of the company's stock valued at $239,000 after purchasing an additional 4,334 shares in the last quarter. Hedge funds and other institutional investors own 52.37% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on NGNE shares. BMO Capital Markets reduced their price target on shares of Neurogene from $45.00 to $16.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Baird R W lowered shares of Neurogene from a "strong-buy" rating to a "hold" rating in a report on Friday. HC Wainwright reduced their price objective 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 cut shares of Neurogene from an "outperform" rating to a "neutral" rating and reduced their target price for the company from $38.00 to $24.00 in a report on Friday. Finally, William Blair reiterated an "outperform" rating on shares of Neurogene in a research note on Tuesday, March 25th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $43.40.

Insider Transactions at Neurogene

In related news, 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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Christine Mikail Cvijic sold 4,501 shares of Neurogene stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $16.94, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 11.64% of the company's stock.

Neurogene Price Performance

Shares of NGNE traded down $0.46 during trading hours on Monday, reaching $17.53. 53,644 shares of the company's stock traded hands, compared to its average volume of 240,849. The business's fifty day simple moving average is $13.49 and its two-hundred day simple moving average is $20.31. Neurogene Inc. has a twelve month low of $6.88 and a twelve month high of $74.49. The firm has a market capitalization of $250.01 million, a price-to-earnings ratio of -4.03 and a beta of 1.56.

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