Baker BROS. Advisors LP Boosts Holdings in Neurogene Inc. (NASDAQ:NGNE)

Baker BROS. Advisors LP grew its position in shares of Neurogene Inc. (NASDAQ:NGNE) by 47.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 674,450 shares of the company’s stock after buying an additional 218,435 shares during the quarter. Baker BROS. Advisors LP owned 4.54% of Neurogene worth $15,418,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in NGNE. PNC Financial Services Group Inc. purchased a new position in Neurogene during the fourth quarter worth about $71,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Neurogene during the 4th quarter worth approximately $72,000. Virtus ETF Advisers LLC lifted its holdings in shares of Neurogene by 45.1% in the 4th quarter. Virtus ETF Advisers LLC now owns 3,183 shares of the company’s stock valued at $73,000 after buying an additional 989 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Neurogene by 34.5% in the fourth quarter. Wells Fargo & Company MN now owns 5,444 shares of the company’s stock valued at $124,000 after buying an additional 1,397 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in Neurogene during the third quarter worth $324,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

Analyst Ratings Changes

NGNE has been the subject of a number of research analyst reports. Robert W. Baird set a $38.00 target price on shares of Neurogene in a report on Tuesday, March 25th. BMO Capital Markets cut their target price on shares of Neurogene from $45.00 to $16.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. HC Wainwright reduced their price target on Neurogene from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, March 25th. Finally, William Blair reiterated an “outperform” rating on shares of Neurogene in a report on Tuesday, March 25th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Neurogene currently has an average rating of “Buy” and a consensus target price of $47.20.

Insiders Place Their Bets

In other Neurogene news, CFO Christine Mikail Cvijic sold 4,501 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $16.94, for a total value of $76,246.94. Following the completion of the transaction, the chief financial officer now directly owns 72,343 shares of the company’s stock, valued at $1,225,490.42. This represents a 5.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 9.92% of the stock is owned by company insiders.

Neurogene Trading Up 10.2 %

Shares of NGNE stock opened at $16.97 on Friday. Neurogene Inc. has a 52 week low of $6.88 and a 52 week high of $74.49. The company has a market cap of $242.03 million, a PE ratio of -3.97 and a beta of 1.46. The company’s fifty day simple moving average is $13.74 and its 200-day simple moving average is $22.79.

Neurogene (NASDAQ:NGNE) last issued its quarterly earnings data on Monday, March 24th. The company reported ($0.99) EPS for the quarter, topping analysts’ consensus estimates of ($1.04) by $0.05. The company had revenue of $0.93 million for the quarter. Equities research analysts expect that Neurogene Inc. will post -4.27 EPS for the current fiscal year.

Neurogene Company 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.