Neurogene Inc. (NASDAQ:NGNE) Stock Position Lifted by Wellington Management Group LLP

Wellington Management Group LLP grew its position in Neurogene Inc. (NASDAQ:NGNE) by 18.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,717 shares of the company’s stock after acquiring an additional 3,427 shares during the quarter. Wellington Management Group LLP owned approximately 0.15% of Neurogene worth $496,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. PNC Financial Services Group Inc. acquired a new position in Neurogene in the fourth quarter worth $71,000. Virtus ETF Advisers LLC lifted its position 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 worth $73,000 after buying an additional 989 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of 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 buying an additional 1,397 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position 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 bought a new stake in shares of Neurogene during the 4th quarter valued at about $239,000. 52.37% of the stock is currently owned by institutional investors.

Neurogene Price Performance

NGNE opened at $21.83 on Friday. The stock’s 50 day moving average price is $14.67 and its 200 day moving average price is $17.59. The stock has a market cap of $311.34 million, a P/E ratio of -5.02 and a beta of 1.57. Neurogene Inc. has a 12 month low of $6.88 and a 12 month high of $74.49.

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. William Blair reissued an “outperform” rating on shares of Neurogene in a report on Tuesday, March 25th. BMO Capital Markets boosted their price objective on Neurogene from $16.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, May 20th. Robert W. Baird downgraded Neurogene from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $38.00 to $24.00 in a research note on Friday, May 16th. Baird R W cut Neurogene from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 16th. Finally, HC Wainwright reduced their price target on shares of Neurogene from $50.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, May 13th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $44.60.

Insider Buying and Selling

In other Neurogene news, insider Stuart Cobb sold 6,797 shares of the business’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 sale, the insider now directly owns 20,794 shares in the company, valued at approximately $315,029.10. The trade was a 24.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christine Mikail Cvijic sold 4,501 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $16.94, for a total transaction 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 approximately $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. Corporate insiders own 11.64% of the company’s stock.

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.