OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $748,000 Position in Neurogene Inc. (NASDAQ:NGNE)

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Neurogene Inc. (NASDAQ:NGNE) by 270.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 32,734 shares of the company’s stock after purchasing an additional 23,907 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.22% of Neurogene worth $748,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Barclays PLC raised its holdings in shares of Neurogene by 319.4% in the third quarter. Barclays PLC now owns 14,859 shares of the company’s stock valued at $623,000 after buying an additional 11,316 shares during the last quarter. Wellington Management Group LLP increased its position in Neurogene by 18.7% in the 4th quarter. Wellington Management Group LLP now owns 21,717 shares of the company’s stock valued at $496,000 after acquiring an additional 3,427 shares in the last quarter. PNC Financial Services Group Inc. bought a new position in shares of Neurogene in the fourth quarter worth about $71,000. Rhumbline Advisers raised its stake in shares of Neurogene by 9.2% in the fourth quarter. Rhumbline Advisers now owns 15,704 shares of the company’s stock worth $359,000 after acquiring an additional 1,326 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position 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 worth $124,000 after purchasing an additional 1,397 shares in the last quarter. Institutional investors own 52.37% of the company’s stock.

Insider Activity at Neurogene

In related news, CFO Christine Mikail Cvijic sold 4,501 shares of Neurogene 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 transaction, the chief financial officer now owns 72,343 shares of the company’s stock, valued at $1,225,490.42. This trade represents a 5.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 11.64% of the stock is currently owned by corporate insiders.

Neurogene Price Performance

Shares of NASDAQ NGNE opened at $15.51 on Wednesday. Neurogene Inc. has a fifty-two week low of $6.88 and a fifty-two week high of $74.49. The firm has a market capitalization of $221.20 million, a P/E ratio of -3.57 and a beta of 1.56. The company’s 50 day simple moving average is $13.47 and its 200 day simple moving average is $21.05.

Neurogene (NASDAQ:NGNE) last issued its earnings results on Friday, May 9th. The company reported ($1.08) EPS for the quarter, missing the consensus estimate of ($1.05) by ($0.03). Sell-side analysts expect that Neurogene Inc. will post -4.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on NGNE shares. BMO Capital Markets lowered their price target on shares of Neurogene from $45.00 to $16.00 and set an “outperform” rating for the company in a report on Monday, April 14th. William Blair reiterated an “outperform” rating on shares of Neurogene in a research report on Tuesday, March 25th. Robert W. Baird set a $38.00 target price on Neurogene in a research report on Tuesday, March 25th. Finally, HC Wainwright cut their price target on Neurogene from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Neurogene presently has a consensus rating of “Buy” and an average price target of $46.20.

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.