Barclays PLC Has $401,000 Position in Neurogene Inc. (NASDAQ:NGNE)

Barclays PLC lifted its stake in shares of Neurogene Inc. (NASDAQ:NGNE) by 18.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 17,533 shares of the company’s stock after buying an additional 2,674 shares during the quarter. Barclays PLC’s holdings in Neurogene were worth $401,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of NGNE. PNC Financial Services Group Inc. acquired a new stake in Neurogene during the fourth quarter worth approximately $71,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Neurogene during the fourth quarter worth approximately $72,000. Wells Fargo & Company MN lifted its holdings in Neurogene by 34.5% during the 4th quarter. Wells Fargo & Company MN now owns 5,444 shares of the company’s stock worth $124,000 after purchasing an additional 1,397 shares during the last quarter. Jane Street Group LLC bought a new stake in Neurogene in the 3rd quarter valued at $324,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Neurogene by 72.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,290 shares of the company’s stock valued at $239,000 after buying an additional 4,334 shares in the last quarter. Institutional investors own 52.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. BMO Capital Markets dropped their target price on Neurogene from $45.00 to $16.00 and set an “outperform” rating for the company in a report on Monday, April 14th. William Blair reissued an “outperform” rating on shares of Neurogene in a report on Tuesday, March 25th. HC Wainwright lowered their target price 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. Finally, Robert W. Baird set a $38.00 price target on Neurogene in a research note on Tuesday, March 25th. Six equities research 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 a consensus rating of “Buy” and an average price target of $47.20.

Neurogene Stock Down 2.7 %

NGNE stock opened at $14.60 on Friday. The company’s 50-day moving average price is $13.48 and its two-hundred day moving average price is $21.67. Neurogene Inc. has a 12 month low of $6.88 and a 12 month high of $74.49. The firm has a market cap of $208.23 million, a P/E ratio of -3.42 and a beta of 1.56.

Neurogene (NASDAQ:NGNE) last announced 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). Equities analysts predict that Neurogene Inc. will post -4.27 EPS for the current year.

Insider Activity

In related news, CFO Christine Mikail Cvijic sold 4,501 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 72,343 shares in the company, valued at $1,225,490.42. This represents a 5.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 9.92% of the company’s stock.

Neurogene 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.