Moore Capital Management LP Acquires Shares of 141,636 Neurogene Inc. $NGNE

Moore Capital Management LP bought a new stake in shares of Neurogene Inc. (NASDAQ:NGNE) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 141,636 shares of the company’s stock, valued at approximately $4,454,000. Moore Capital Management LP owned about 0.71% of Neurogene as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in NGNE. Renaissance Technologies LLC increased its stake in shares of Neurogene by 210.0% in the 1st quarter. Renaissance Technologies LLC now owns 43,400 shares of the company’s stock valued at $875,000 after acquiring an additional 29,400 shares during the last quarter. Deutsche Bank AG bought a new stake in Neurogene in the second quarter valued at approximately $3,354,000. Trails Edge Capital Partners LP acquired a new stake in Neurogene in the second quarter worth $22,483,133. State of Wyoming bought a new position in shares of Neurogene during the second quarter worth $31,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Neurogene in the 4th quarter valued at $165,000. 52.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NGNE. Rodman & Renshaw assumed coverage on Neurogene in a research note on Wednesday, June 3rd. They set a “buy” rating and a $70.00 price objective on the stock. UBS Group set a $70.00 price target on Neurogene in a research report on Wednesday, June 3rd. HC Wainwright cut their price objective on Neurogene from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Neurogene in a research note on Friday, July 17th. Finally, Canaccord Genuity Group cut their price objective on shares of Neurogene from $180.00 to $166.00 and set a “buy” rating on the stock in a research report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.67.

Neurogene Trading Down 0.9%

NGNE stock opened at $36.24 on Tuesday. Neurogene Inc. has a 1-year low of $15.93 and a 1-year high of $43.66. The firm has a market capitalization of $725.16 million, a PE ratio of -7.20 and a beta of 1.70. The business’s 50 day simple moving average is $35.89 and its 200 day simple moving average is $28.51.

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

Insiders Place Their Bets

In other Neurogene news, CFO Christine Mikail Cvijic sold 4,200 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer owned 84,040 shares of the company’s stock, valued at $3,036,365.20. The trade was a 4.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 9,600 shares of company stock valued at $339,932. 11.68% of the stock is owned by insiders.

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.