Northern Trust Corp Buys 5,845 Shares of Neurogene Inc. (NASDAQ:NGNE)

Northern Trust Corp grew its stake in Neurogene Inc. (NASDAQ:NGNE) by 6.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 100,566 shares of the company’s stock after purchasing an additional 5,845 shares during the quarter. Northern Trust Corp owned approximately 0.68% of Neurogene worth $2,299,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. The Manufacturers Life Insurance Company bought a new position in shares of Neurogene in the fourth quarter valued at approximately $322,000. Virtus ETF Advisers LLC lifted its holdings in shares of Neurogene by 45.1% in the fourth quarter. Virtus ETF Advisers LLC now owns 3,183 shares of the company’s stock valued at $73,000 after purchasing an additional 989 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new position in shares of Neurogene in the fourth quarter valued at approximately $2,819,000. Rock Springs Capital Management LP bought a new position in shares of Neurogene in the fourth quarter valued at approximately $2,181,000. Finally, Walleye Capital LLC lifted its holdings in shares of Neurogene by 68.2% in the fourth quarter. Walleye Capital LLC now owns 74,836 shares of the company’s stock valued at $1,711,000 after purchasing an additional 30,336 shares in the last quarter. Institutional investors own 52.37% of the company’s stock.

Neurogene Trading Down 4.2%

Shares of Neurogene stock opened at $17.28 on Monday. The business’s fifty day simple moving average is $13.62 and its 200 day simple moving average is $18.78. The firm has a market capitalization of $246.45 million, a P/E ratio of -3.97 and a beta of 1.56. Neurogene Inc. has a 12 month low of $6.88 and a 12 month high of $74.49.

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

Insiders Place Their Bets

In other Neurogene news, insider Stuart Cobb sold 6,797 shares of the firm’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $15.15, for a total value of $102,974.55. Following the completion of the sale, the insider now directly owns 20,794 shares of the company’s stock, valued at $315,029.10. This trade represents a 24.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Christine Mikail Cvijic sold 4,501 shares of the firm’s stock in a transaction on 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 11.64% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on NGNE shares. Robert W. Baird lowered Neurogene from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $38.00 to $24.00 in a report on Friday, May 16th. HC Wainwright dropped their price target on 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 lifted their price target on Neurogene from $16.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, May 20th. William Blair reiterated an “outperform” rating on shares of Neurogene in a report on Tuesday, March 25th. Finally, Baird R W lowered Neurogene from a “strong-buy” rating to a “hold” rating in a report on Friday, May 16th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Neurogene has an average rating of “Moderate Buy” and an average price target of $44.60.

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.