Trails Edge Capital Partners LP Acquires New Position in Neurogene Inc. $NGNE

Trails Edge Capital Partners LP acquired a new stake in Neurogene Inc. (NASDAQ:NGNE) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 714,885 shares of the company’s stock, valued at approximately $22,483,133,000. Neurogene accounts for approximately 3.6% of Trails Edge Capital Partners LP’s holdings, making the stock its 13th largest position.

Other hedge funds have also added to or reduced their stakes in the company. State of Wyoming bought a new stake in shares of Neurogene during the second quarter valued at approximately $31,000. Legal & General Group Plc bought a new position in Neurogene in the second quarter worth approximately $35,000. BNP Paribas Financial Markets grew its stake in Neurogene by 89.8% in the third quarter. BNP Paribas Financial Markets now owns 2,067 shares of the company’s stock worth $36,000 after purchasing an additional 978 shares in the last quarter. Daiwa Securities Group Inc. purchased a new position in Neurogene during the 4th quarter worth $66,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Neurogene during the 2nd quarter worth $192,000. 52.37% of the stock is currently owned by institutional investors.

Neurogene Trading Up 3.0%

NASDAQ NGNE opened at $40.84 on Wednesday. The firm’s fifty day simple moving average is $35.43 and its two-hundred day simple moving average is $27.94. The firm has a market capitalization of $817.21 million, a P/E ratio of -8.12 and a beta of 1.70. Neurogene Inc. has a 12-month low of $15.93 and a 12-month high of $43.66.

Neurogene (NASDAQ:NGNE) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($1.53) EPS for the quarter, missing the consensus estimate of ($1.42) by ($0.11). As a group, sell-side analysts predict that Neurogene Inc. will post -5.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Neurogene news, CFO Christine Mikail Cvijic sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $36.13, for a total value of $151,746.00. Following the completion of the sale, the chief financial officer owned 84,040 shares of the company’s stock, valued at approximately $3,036,365.20. This trade represents a 4.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 9,600 shares of company stock valued at $339,932 in the last three months. Company insiders own 11.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. UBS Group set a $70.00 target price on Neurogene in a research report on Wednesday, June 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Neurogene in a research note on Friday, July 17th. HC Wainwright decreased their price objective on Neurogene from $70.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, August 12th. Rodman & Renshaw began coverage on Neurogene in a report on Wednesday, June 3rd. They set a “buy” rating and a $70.00 target price for the company. Finally, Canaccord Genuity Group reduced their target price on shares of Neurogene from $180.00 to $166.00 and set a “buy” rating for the company in a report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $83.67.

Neurogene Company Profile

Neurogene, Inc is a clinical‐stage biotechnology company specializing in the development of gene therapies for rare neurological diseases. The company’s lead platform employs adeno‐associated virus (AAV) vectors designed to deliver functional copies of disease-causing genes directly to the central nervous system. Neurogene’s pipeline focuses on inherited lysosomal storage disorders, including investigational programs for GM1 and GM2 gangliosidoses, with additional preclinical efforts targeting other monogenic neurodegenerative conditions.

Neurogene’s proprietary AAV9‐based delivery system has been engineered to cross the blood-brain barrier, aiming to provide durable gene expression in affected tissues.