Rhumbline Advisers Purchases Shares of 13,489 Neurogene Inc. (NASDAQ:NGNE)

Rhumbline Advisers acquired a new stake in shares of Neurogene Inc. (NASDAQ:NGNE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 13,489 shares of the company’s stock, valued at approximately $491,000.

A number of other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of Neurogene in the first quarter worth about $120,000. Privium Fund Management UK Ltd bought a new stake in Neurogene in the 1st quarter worth approximately $274,000. Bank of New York Mellon Corp purchased a new stake in shares of Neurogene during the 2nd quarter worth approximately $1,107,000. Baker BROS. Advisors LP boosted its position in shares of Neurogene by 0.6% during the 1st quarter. Baker BROS. Advisors LP now owns 456,015 shares of the company’s stock valued at $23,211,000 after acquiring an additional 2,499 shares during the last quarter. Finally, Avidity Partners Management LP purchased a new position in shares of Neurogene in the fourth quarter valued at $9,036,000. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Neurogene Trading Up 3.1 %

Shares of NASDAQ:NGNE opened at $41.93 on Thursday. Neurogene Inc. has a 12 month low of $12.49 and a 12 month high of $53.00. The firm’s 50-day moving average is $38.34 and its 200 day moving average is $37.56.

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NGNE. Robert W. Baird initiated coverage on shares of Neurogene in a research note on Tuesday, June 11th. They set an “outperform” rating and a $54.00 price target on the stock. BMO Capital Markets initiated coverage on shares of Neurogene in a report on Thursday, June 27th. They issued an “outperform” rating and a $65.00 target price on the stock. Baird R W raised shares of Neurogene to a “strong-buy” rating in a report on Tuesday, June 11th. Finally, HC Wainwright reduced their price objective on Neurogene from $51.00 to $49.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Eight research 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, the stock presently has a consensus rating of “Buy” and a consensus price target of $51.00.

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.