Trails Edge Capital Partners LP Purchases Shares of 714,885 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 filing with the SEC. The fund acquired 714,885 shares of the company’s stock, valued at approximately $22,483,133. Neurogene accounts for about 0.0% of Trails Edge Capital Partners LP’s investment portfolio, making the stock its 13th biggest holding. Trails Edge Capital Partners LP owned about 3.57% of Neurogene as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of NGNE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Neurogene by 17.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,983 shares of the company’s stock valued at $82,000 after purchasing an additional 1,059 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Neurogene by 81.6% in the 2nd quarter. Bank of America Corp DE now owns 95,401 shares of the company’s stock valued at $1,426,000 after acquiring an additional 42,880 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Neurogene by 89.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,067 shares of the company’s stock valued at $36,000 after buying an additional 978 shares in the last quarter. Bridgeway Capital Management LLC acquired a new stake in shares of Neurogene during the 3rd quarter worth approximately $187,000. Finally, Balyasny Asset Management L.P. purchased a new position in Neurogene during the third quarter worth approximately $12,114,000. 52.37% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Christine Mikail Cvijic sold 4,200 shares of the firm’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $36.13, for a total value of $151,746.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 9,600 shares of company stock valued at $339,932 in the last ninety days. Corporate insiders own 11.68% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. HC Wainwright dropped their price target on Neurogene from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, August 12th. Canaccord Genuity Group dropped their price objective 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. Weiss Ratings restated a “sell (d-)” rating on shares of Neurogene in a research note on Friday, July 17th. Guggenheim upped their price target on shares of Neurogene from $69.00 to $81.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Finally, UBS Group set a $70.00 target price on Neurogene in a research note on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Neurogene currently has a consensus rating of “Moderate Buy” and an average target price of $83.67.

Neurogene Price Performance

Shares of NGNE traded down $1.28 during mid-day trading on Friday, reaching $36.58. The stock had a trading volume of 132,794 shares, compared to its average volume of 188,985. The firm has a market cap of $732.00 million, a price-to-earnings ratio of -7.27 and a beta of 1.70. Neurogene Inc. has a 52-week low of $15.93 and a 52-week high of $43.66. The business’s fifty day moving average is $35.71 and its 200 day moving average is $28.24.

Neurogene (NASDAQ:NGNE) last announced 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 anticipate that Neurogene Inc. will post -5.62 EPS for the current fiscal year.

About Neurogene

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.