Bank of New York Mellon Corp purchased a new stake in shares of Neurogene Inc. (NASDAQ:NGNE - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 30,428 shares of the company's stock, valued at approximately $1,107,000. Bank of New York Mellon Corp owned about 0.23% of Neurogene at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in Neurogene in the 1st quarter worth approximately $120,000. Baker BROS. Advisors LP boosted its position in Neurogene by 0.6% in the 1st quarter. Baker BROS. Advisors LP now owns 456,015 shares of the company's stock valued at $23,211,000 after buying an additional 2,499 shares during the period. Privium Fund Management UK Ltd bought a new position in Neurogene during the 1st quarter worth about $274,000. Vanguard Group Inc. boosted its position in Neurogene by 906.5% during the first quarter. Vanguard Group Inc. now owns 507,483 shares of the company's stock valued at $25,831,000 after purchasing an additional 457,062 shares in the last quarter. Finally, Avidity Partners Management LP purchased a new position in Neurogene in the fourth quarter worth $9,036,000. Hedge funds and other institutional investors own 52.37% of the company's stock.
Neurogene Stock Performance
Shares of NGNE stock traded down $0.81 during trading on Friday, reaching $40.75. The company's stock had a trading volume of 192,043 shares, compared to its average volume of 118,446. Neurogene Inc. has a one year low of $12.49 and a one year high of $53.00. The business has a fifty day moving average price of $38.56 and a 200-day moving average price of $37.53.
Neurogene (NASDAQ:NGNE - Get Free Report) last issued its earnings results on Friday, August 9th. The company reported ($1.09) EPS for the quarter, missing the consensus estimate of ($1.02) by ($0.07). The firm had revenue of $0.93 million for the quarter. Equities research analysts expect that Neurogene Inc. will post -4.47 EPS for the current fiscal year.
Wall Street Analyst Weigh In
NGNE has been the topic of a number of analyst reports. HC Wainwright dropped their target price on Neurogene from $51.00 to $49.00 and set a "buy" rating on the stock in a research report on Monday, August 12th. Baird R W raised shares of Neurogene to a "strong-buy" rating in a report on Tuesday, June 11th. BMO Capital Markets assumed coverage on shares of Neurogene in a research note on Thursday, June 27th. They set an "outperform" rating and a $65.00 price target on the stock. Finally, Robert W. Baird assumed coverage on Neurogene in a research note on Tuesday, June 11th. They issued an "outperform" rating and a $54.00 target price on the stock. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $51.00.
Read Our Latest Stock Report on NGNE
About Neurogene
(Free Report)
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.
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