Neurogene Inc. (NASDAQ:NGNE) Stake Raised by Driehaus Capital Management LLC

Driehaus Capital Management LLC grew its holdings in shares of Neurogene Inc. (NASDAQ:NGNE) by 123.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 102,187 shares of the company’s stock after purchasing an additional 56,533 shares during the period. Driehaus Capital Management LLC owned approximately 0.79% of Neurogene worth $3,719,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Quest Partners LLC acquired a new stake in Neurogene during the second quarter valued at approximately $55,000. SG Americas Securities LLC acquired a new stake in shares of Neurogene during the 1st quarter valued at $120,000. Privium Fund Management UK Ltd acquired a new stake in shares of Neurogene during the 1st quarter valued at $274,000. Rhumbline Advisers bought a new stake in shares of Neurogene during the 2nd quarter worth $491,000. Finally, Avoro Capital Advisors LLC acquired a new position in shares of Neurogene in the 2nd quarter worth $802,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

Neurogene Stock Performance

NGNE stock opened at $40.33 on Monday. The firm has a 50 day simple moving average of $38.21 and a 200 day simple moving average of $37.65. Neurogene Inc. has a 52 week low of $12.49 and a 52 week high of $53.00.

Neurogene (NASDAQ:NGNE) last issued its earnings results on Friday, August 9th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.07). The business had revenue of $0.93 million for the quarter. On average, sell-side analysts forecast that Neurogene Inc. will post -4.47 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on NGNE shares. Robert W. Baird initiated coverage on Neurogene in a research report on Tuesday, June 11th. They issued an “outperform” rating and a $54.00 price target for the company. HC Wainwright decreased their target price on shares of Neurogene from $51.00 to $49.00 and set a “buy” rating for the company in a report on Monday, August 12th. Baird R W upgraded shares of Neurogene to a “strong-buy” rating in a report on Tuesday, June 11th. Finally, BMO Capital Markets began coverage on shares of Neurogene in a research report on Thursday, June 27th. They issued an “outperform” rating and a $65.00 price target for the company. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Neurogene currently has a consensus rating of “Buy” and a consensus price target of $51.00.

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.