Price T Rowe Associates Inc. MD Invests $2.82 Million in Neurogene Inc. (NASDAQ:NGNE)

Price T Rowe Associates Inc. MD acquired a new stake in shares of Neurogene Inc. (NASDAQ:NGNE) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 123,291 shares of the company’s stock, valued at approximately $2,819,000. Price T Rowe Associates Inc. MD owned approximately 0.83% of Neurogene as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in NGNE. PNC Financial Services Group Inc. purchased a new position in shares of Neurogene during the 4th quarter valued at $71,000. China Universal Asset Management Co. Ltd. purchased a new position in Neurogene in the fourth quarter valued at about $72,000. Wells Fargo & Company MN increased its position in Neurogene by 34.5% in the 4th 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 during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Neurogene by 72.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,290 shares of the company’s stock valued at $239,000 after buying an additional 4,334 shares during the last quarter. Finally, Mariner LLC acquired a new stake in shares of Neurogene during the 4th quarter valued at about $239,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

Neurogene Price Performance

NGNE stock opened at $15.11 on Tuesday. The company has a 50-day moving average of $13.70 and a two-hundred day moving average of $22.30. The stock has a market capitalization of $215.50 million, a price-to-earnings ratio of -3.54 and a beta of 1.56. Neurogene Inc. has a 52-week low of $6.88 and a 52-week high of $74.49.

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on NGNE shares. William Blair reaffirmed an “outperform” rating on shares of Neurogene in a research report on Tuesday, March 25th. BMO Capital Markets decreased their price objective 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. HC Wainwright lowered their target price on shares of Neurogene from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, March 25th. Finally, Robert W. Baird set a $38.00 price target on Neurogene in a research report on Tuesday, March 25th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $47.20.

Insider Buying and Selling

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

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.