Nuveen LLC Purchases Shares of 27,482 Neurogene Inc. $NGNE

Nuveen LLC acquired a new stake in shares of Neurogene Inc. (NASDAQ:NGNE) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 27,482 shares of the company’s stock, valued at approximately $322,000.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in shares of Neurogene by 2,985.1% during the first quarter. GAMMA Investing LLC now owns 4,134 shares of the company’s stock valued at $48,000 after purchasing an additional 4,000 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Neurogene by 34.5% during the fourth quarter. Wells Fargo & Company MN now owns 5,444 shares of the company’s stock valued at $124,000 after purchasing an additional 1,397 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Neurogene by 9.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 11,231 shares of the company’s stock valued at $132,000 after purchasing an additional 941 shares during the period. The Manufacturers Life Insurance Company acquired a new position in shares of Neurogene during the fourth quarter valued at about $322,000. Finally, Raiffeisen Bank International AG acquired a new position in shares of Neurogene during the fourth quarter valued at about $356,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on NGNE shares. Craig Hallum started coverage on shares of Neurogene in a report on Tuesday, June 17th. They set a “buy” rating and a $50.00 price objective on the stock. Robert W. Baird lowered shares of Neurogene from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $38.00 to $24.00 in a report on Friday, May 16th. Baird R W lowered shares of Neurogene from a “strong-buy” rating to a “hold” rating in a report on Friday, May 16th. HC Wainwright lowered their target price on shares of Neurogene from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $26.00 target price (up previously from $22.00) on shares of Neurogene in a report on Thursday, June 12th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Neurogene presently has a consensus rating of “Moderate Buy” and an average target price of $46.17.

Neurogene Stock Performance

Shares of NGNE stock opened at $19.95 on Friday. Neurogene Inc. has a 52-week low of $6.88 and a 52-week high of $74.49. The company has a 50-day simple moving average of $20.65 and a two-hundred day simple moving average of $17.41. The company has a market capitalization of $284.69 million, a price-to-earnings ratio of -4.63 and a beta of 1.58.

Neurogene (NASDAQ:NGNE) last issued its quarterly earnings data on Monday, August 11th. The company reported ($1.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.15) by $0.10. On average, sell-side analysts forecast that Neurogene Inc. will post -4.27 EPS for the current fiscal year.

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.