Rhumbline Advisers acquired a new stake in shares of Neurogene Inc. (NASDAQ:NGNE – Free Report) 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.
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.
Check Out Our Latest Stock Analysis on Neurogene
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.
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