95,407 Shares in Neurogene Inc. (NASDAQ:NGNE) Acquired by Rock Springs Capital Management LP

Rock Springs Capital Management LP acquired a new stake in Neurogene Inc. (NASDAQ:NGNE - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 95,407 shares of the company's stock, valued at approximately $2,181,000. Rock Springs Capital Management LP owned approximately 0.64% of Neurogene at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NGNE. JPMorgan Chase & Co. boosted its stake in shares of Neurogene by 10,395.3% in the fourth quarter. JPMorgan Chase & Co. now owns 481,001 shares of the company's stock valued at $10,996,000 after buying an additional 476,418 shares in the last quarter. State Street Corp boosted its position in shares of Neurogene by 17.5% during the 3rd quarter. State Street Corp now owns 246,540 shares of the company's stock worth $10,345,000 after purchasing an additional 36,687 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Neurogene by 6.4% during the 4th quarter. Geode Capital Management LLC now owns 234,625 shares of the company's stock worth $5,365,000 after purchasing an additional 14,026 shares during the period. Walleye Capital LLC grew its stake in shares of Neurogene by 68.2% during the 4th quarter. Walleye Capital LLC now owns 74,836 shares of the company's stock worth $1,711,000 after purchasing an additional 30,336 shares during the period. Finally, Blair William & Co. IL purchased a new position in shares of Neurogene in the 4th quarter valued at about $1,432,000. Institutional investors and hedge funds own 52.37% of the company's stock.

Insider Activity

In related news, CFO Christine Mikail Cvijic sold 4,501 shares of the stock in a transaction 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 directly owns 72,343 shares of the company's stock, valued at approximately $1,225,490.42. This trade represents a 5.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 9.92% of the company's stock.

Neurogene Price Performance

NGNE stock traded up $0.04 during midday trading on Friday, hitting $15.41. The stock had a trading volume of 143,530 shares, compared to its average volume of 229,153. The company's 50-day moving average price is $13.94 and its 200 day moving average price is $24.18. The firm has a market cap of $230.07 million, a PE ratio of -3.61 and a beta of 1.46. Neurogene Inc. has a 12-month low of $6.88 and a 12-month high of $74.49.

Neurogene (NASDAQ:NGNE - Get Free Report) last posted 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 business had revenue of $0.93 million for the quarter. As a group, sell-side analysts anticipate that Neurogene Inc. will post -4.27 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NGNE. BMO Capital Markets dropped their target price on shares of Neurogene from $45.00 to $16.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Robert W. Baird set a $38.00 target price on Neurogene in a report on Tuesday, March 25th. William Blair reiterated an "outperform" rating on shares of Neurogene in a research report on Tuesday, March 25th. Finally, HC Wainwright reduced their price target on shares of Neurogene from $55.00 to $50.00 and set a "buy" rating on the stock in a report on Tuesday, March 25th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Neurogene currently has a consensus rating of "Buy" and an average price target of $47.20.

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.