Raiffeisen Bank International AG Takes Position in Neurogene Inc. (NASDAQ:NGNE)

Raiffeisen Bank International AG bought a new position in shares of Neurogene Inc. (NASDAQ:NGNE) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 16,000 shares of the company’s stock, valued at approximately $356,000.

Several other large investors have also recently bought and sold shares of the stock. Wellington Management Group LLP increased its holdings in shares of Neurogene by 18.7% during the 4th quarter. Wellington Management Group LLP now owns 21,717 shares of the company’s stock worth $496,000 after purchasing an additional 3,427 shares during the period. PNC Financial Services Group Inc. acquired a new stake in Neurogene during the fourth quarter worth about $71,000. Rhumbline Advisers increased its stake in Neurogene by 9.2% during the fourth quarter. Rhumbline Advisers now owns 15,704 shares of the company’s stock valued at $359,000 after acquiring an additional 1,326 shares during the period. Mariner LLC bought a new position in Neurogene during the fourth quarter valued at about $239,000. Finally, Wells Fargo & Company MN raised its holdings in Neurogene by 34.5% in the 4th quarter. Wells Fargo & Company MN now owns 5,444 shares of the company’s stock valued at $124,000 after acquiring an additional 1,397 shares in the last quarter. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Neurogene Price Performance

Neurogene stock opened at $17.99 on Friday. The business has a 50 day simple moving average of $13.49 and a 200 day simple moving average of $20.48. The company has a market capitalization of $256.57 million, a PE ratio of -4.14 and a beta of 1.56. Neurogene Inc. has a one year low of $6.88 and a one year high of $74.49.

Neurogene (NASDAQ:NGNE) last issued its quarterly earnings data on Friday, May 9th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.03). Equities analysts anticipate that Neurogene Inc. will post -4.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on NGNE shares. William Blair reissued an “outperform” rating on shares of Neurogene in a report on Tuesday, March 25th. Baird R W cut Neurogene from a “strong-buy” rating to a “hold” rating in a research report on Friday. HC Wainwright lowered their price target on shares of Neurogene from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th. BMO Capital Markets dropped their price objective 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. Finally, Robert W. Baird lowered shares of Neurogene from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $38.00 to $24.00 in a research report on Friday. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.40.

Insider Activity at Neurogene

In related news, CFO Christine Mikail Cvijic sold 4,501 shares of Neurogene stock in a transaction dated Thursday, March 13th. The stock was 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. The trade was a 5.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Stuart Cobb sold 6,797 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $15.15, for a total transaction of $102,974.55. Following the completion of the sale, the insider now owns 20,794 shares of the company’s stock, valued at $315,029.10. The trade was a 24.63% decrease in their position. The disclosure for this sale can be found here. 11.64% of the stock is currently owned by insiders.

About Neurogene

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.