Octagon Capital Advisors LP increased its stake in Neurogene Inc. (NASDAQ:NGNE - Free Report) by 1,920.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 303,000 shares of the company's stock after buying an additional 288,000 shares during the period. Neurogene accounts for 1.1% of Octagon Capital Advisors LP's portfolio, making the stock its 26th largest position. Octagon Capital Advisors LP owned approximately 2.04% of Neurogene worth $6,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of the business. DAFNA Capital Management LLC lifted its position in Neurogene by 562.4% in the 4th quarter. DAFNA Capital Management LLC now owns 51,500 shares of the company's stock valued at $1,177,000 after acquiring an additional 43,725 shares in the last quarter. Deerfield Management Company L.P. Series C purchased a new position in shares of Neurogene in the fourth quarter valued at about $10,245,000. Casdin Capital LLC lifted its stake in 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 purchasing an additional 770,745 shares in the last quarter. Baker BROS. Advisors LP boosted its position 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 valued at $15,418,000 after acquiring an additional 218,435 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC increased its stake in Neurogene by 16.1% during the fourth 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 own 52.37% of the company's stock.
Analyst Ratings Changes
Several research firms recently commented on NGNE. Robert W. Baird set a $38.00 price target on shares of Neurogene in a research note on Tuesday, March 25th. William Blair reiterated an "outperform" rating on shares of Neurogene in a research report on Tuesday, March 25th. HC Wainwright lowered their price target on Neurogene from $55.00 to $50.00 and set a "buy" rating on the stock in a research note on Tuesday, March 25th. Finally, BMO Capital Markets cut their target price on Neurogene from $45.00 to $16.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $47.20.
Read Our Latest Stock Report on NGNE
Neurogene Price Performance
Neurogene stock opened at $17.70 on Tuesday. The stock's 50 day moving average price is $13.50 and its 200 day moving average price is $21.09. Neurogene Inc. has a 1-year low of $6.88 and a 1-year high of $74.49. The company has a market cap of $252.44 million, a PE ratio of -4.07 and a beta of 1.56.
Neurogene (NASDAQ:NGNE - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The company reported ($1.08) earnings per share for the quarter, missing analysts' consensus estimates of ($1.05) by ($0.03). On average, equities research analysts anticipate that Neurogene Inc. will post -4.27 EPS for the current fiscal year.
Insider Buying and Selling at Neurogene
In other news, CFO Christine Mikail Cvijic sold 4,501 shares of the business's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $16.94, for a total value of $76,246.94. Following the completion of the sale, the chief financial officer now owns 72,343 shares of the company's stock, valued at approximately $1,225,490.42. The trade was a 5.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 11.64% of the stock is currently owned by corporate insiders.
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.
Further Reading
Want to see what other hedge funds are holding NGNE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Neurogene Inc. (NASDAQ:NGNE - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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