Neurogene Inc. (NASDAQ:NGNE) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in shares of Neurogene Inc. (NASDAQ:NGNE) by 6.4% during the fourth quarter, HoldingsChannel reports. The firm owned 234,625 shares of the company’s stock after buying an additional 14,026 shares during the period. Geode Capital Management LLC’s holdings in Neurogene were worth $5,365,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. PNC Financial Services Group Inc. acquired a new position in Neurogene during the 4th quarter worth approximately $71,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Neurogene during the fourth quarter valued at approximately $72,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Neurogene by 72.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,290 shares of the company’s stock worth $239,000 after purchasing an additional 4,334 shares in the last quarter. Franklin Resources Inc. acquired a new position in shares of Neurogene during the third quarter worth $296,000. Finally, M&T Bank Corp purchased a new position in shares of Neurogene in the fourth quarter valued at $323,000. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. HC Wainwright cut their price objective 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. Robert W. Baird set a $38.00 price target on Neurogene in a report on Tuesday, March 25th. BMO Capital Markets dropped their price objective on Neurogene from $45.00 to $16.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Finally, William Blair reiterated an “outperform” rating on shares of Neurogene in a research note on Tuesday, March 25th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $47.20.

Insider Activity at Neurogene

In other Neurogene news, CFO Christine Mikail Cvijic sold 4,501 shares of the firm’s 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 sale, the chief financial officer now directly owns 72,343 shares in the company, valued at approximately $1,225,490.42. This trade represents a 5.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 9.92% of the company’s stock.

Neurogene Price Performance

NGNE stock opened at $15.41 on Friday. The firm has a market cap of $230.07 million, a price-to-earnings ratio of -3.61 and a beta of 1.46. Neurogene Inc. has a 1-year low of $6.88 and a 1-year high of $74.49. The firm has a fifty day moving average price of $13.94 and a two-hundred day moving average price of $24.18.

Neurogene (NASDAQ:NGNE) last announced its quarterly earnings data 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 business had revenue of $0.93 million for the quarter. As a group, analysts expect that Neurogene Inc. will post -4.27 EPS for the current fiscal year.

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.