Samsara BioCapital LLC Increases Stock Position in Neurogene Inc. (NASDAQ:NGNE)

Samsara BioCapital LLC lifted its holdings in shares of Neurogene Inc. (NASDAQ:NGNE - Free Report) by 35.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,717,127 shares of the company's stock after buying an additional 449,337 shares during the period. Neurogene makes up about 5.3% of Samsara BioCapital LLC's investment portfolio, making the stock its 5th largest holding. Samsara BioCapital LLC owned about 11.56% of Neurogene worth $39,254,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. bought a new stake in shares of Neurogene during the 4th quarter worth $71,000. China Universal Asset Management Co. Ltd. acquired a new position in shares of Neurogene during the fourth quarter worth approximately $72,000. Virtus ETF Advisers LLC increased its stake in Neurogene by 45.1% during the fourth quarter. Virtus ETF Advisers LLC now owns 3,183 shares of the company's stock valued at $73,000 after acquiring an additional 989 shares during the period. Wells Fargo & Company MN increased its stake in Neurogene by 34.5% in the fourth quarter. Wells Fargo & Company MN now owns 5,444 shares of the company's stock valued at $124,000 after acquiring an additional 1,397 shares during the period. Finally, Franklin Resources Inc. bought a new position in shares of Neurogene during the third quarter valued at $296,000. Institutional investors and hedge funds own 52.37% of the company's stock.

Insider Buying and Selling

In other news, CFO Christine Mikail Cvijic sold 4,501 shares of the company'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 sale, the chief financial officer now directly owns 72,343 shares of the company's stock, valued at $1,225,490.42. This represents a 5.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 9.92% of the stock is currently owned by corporate insiders.

Neurogene Stock Performance

Shares of Neurogene stock traded down $0.57 during mid-day trading on Monday, hitting $16.40. 50,004 shares of the stock were exchanged, compared to its average volume of 261,061. Neurogene Inc. has a 12 month low of $6.88 and a 12 month high of $74.49. The company has a 50-day simple moving average of $13.74 and a 200 day simple moving average of $22.57. The company has a market capitalization of $233.90 million, a P/E ratio of -3.84 and a beta of 1.46.

Neurogene (NASDAQ:NGNE - Get Free Report) last released its earnings results on Monday, March 24th. The company reported ($0.99) earnings per share for the quarter, beating analysts' consensus estimates of ($1.04) by $0.05. The company had revenue of $0.93 million during the quarter. Analysts predict that Neurogene Inc. will post -4.27 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Robert W. Baird set a $38.00 price target on Neurogene in a report on Tuesday, March 25th. William Blair reissued an "outperform" rating on shares of Neurogene in a report on Tuesday, March 25th. HC Wainwright cut their target price on Neurogene from $55.00 to $50.00 and set a "buy" rating for the company in a research report 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 equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $47.20.

Neurogene Company 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.