Schonfeld Strategic Advisors LLC trimmed its holdings in Neurogene Inc. (NASDAQ:NGNE - Free Report) by 71.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 9,189 shares of the company's stock after selling 23,477 shares during the quarter. Schonfeld Strategic Advisors LLC owned 0.06% of Neurogene worth $210,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the business. Northern Trust Corp lifted its holdings in shares of Neurogene by 6.2% in the 4th quarter. Northern Trust Corp now owns 100,566 shares of the company's stock worth $2,299,000 after acquiring an additional 5,845 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Neurogene in the 4th quarter worth approximately $322,000. Virtus ETF Advisers LLC lifted its holdings in shares of Neurogene by 45.1% in the 4th 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. Price T Rowe Associates Inc. MD bought a new stake in shares of Neurogene in the 4th quarter worth approximately $2,819,000. Finally, Rock Springs Capital Management LP purchased a new position in shares of Neurogene in the fourth quarter worth $2,181,000. 52.37% of the stock is currently owned by institutional investors.
Neurogene Price Performance
Neurogene stock traded down $1.38 during mid-day trading on Friday, reaching $17.99. 313,262 shares of the company traded hands, compared to its average volume of 240,829. The firm's 50 day moving average price is $13.48 and its 200 day moving average price is $20.82. The firm has a market capitalization of $256.57 million, a price-to-earnings ratio of -4.14 and a beta of 1.56. Neurogene Inc. has a 52-week low of $6.88 and a 52-week high of $74.49.
Neurogene (NASDAQ:NGNE - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.05) by ($0.03). On average, sell-side analysts anticipate that Neurogene Inc. will post -4.27 EPS for the current year.
Wall Street Analyst Weigh In
NGNE has been the topic of several analyst reports. Robert W. Baird downgraded shares of Neurogene from an "outperform" rating to a "neutral" rating and decreased their target price for the stock from $38.00 to $24.00 in a research note on Friday. William Blair reaffirmed an "outperform" rating on shares of Neurogene in a research note on Tuesday, March 25th. HC Wainwright decreased their target price on shares of Neurogene from $50.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday. Finally, BMO Capital Markets decreased their target price 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. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $43.40.
Get Our Latest Stock Analysis on Neurogene
Insider Buying and Selling at Neurogene
In other news, insider Stuart Cobb sold 6,797 shares of the business'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 sale, the insider now owns 20,794 shares in the company, valued at approximately $315,029.10. The trade was a 24.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Christine Mikail Cvijic sold 4,501 shares of the business's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $16.94, for a total transaction of $76,246.94. Following the sale, the chief financial officer now owns 72,343 shares in the company, valued at approximately $1,225,490.42. This trade represents a 5.86% decrease in their position. The disclosure for this sale can be found here. Insiders own 11.64% of the company's stock.
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.
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