OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $748,000 Holdings in Neurogene Inc. (NASDAQ:NGNE)

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Neurogene Inc. (NASDAQ:NGNE) by 270.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 32,734 shares of the company’s stock after purchasing an additional 23,907 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Neurogene were worth $748,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC raised its position in shares of Neurogene by 319.4% during the third quarter. Barclays PLC now owns 14,859 shares of the company’s stock worth $623,000 after purchasing an additional 11,316 shares during the period. Wellington Management Group LLP grew its position in shares of Neurogene by 18.7% in the 4th quarter. Wellington Management Group LLP now owns 21,717 shares of the company’s stock valued at $496,000 after purchasing an additional 3,427 shares during the period. PNC Financial Services Group Inc. bought a new stake in Neurogene during the 4th quarter worth approximately $71,000. Rhumbline Advisers increased its stake in Neurogene by 9.2% during the 4th quarter. Rhumbline Advisers now owns 15,704 shares of the company’s stock worth $359,000 after purchasing an additional 1,326 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Neurogene by 34.5% during the 4th quarter. Wells Fargo & Company MN now owns 5,444 shares of the company’s stock worth $124,000 after buying an additional 1,397 shares during the period. 52.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NGNE shares. 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. Robert W. Baird set a $38.00 price objective on shares of Neurogene in a research report on Tuesday, March 25th. BMO Capital Markets lowered their target price on Neurogene from $45.00 to $16.00 and set an “outperform” rating for the company in a report on Monday, April 14th. Finally, William Blair restated an “outperform” rating on shares of Neurogene in a report on Tuesday, March 25th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Neurogene presently has an average rating of “Buy” and a consensus price target of $46.20.

Neurogene Stock Down 12.4%

Shares of NGNE stock opened at $15.51 on Wednesday. Neurogene Inc. has a 12 month low of $6.88 and a 12 month high of $74.49. The company’s fifty day simple moving average is $13.47 and its 200-day simple moving average is $21.05. The firm has a market cap of $221.20 million, a PE ratio of -3.57 and a beta of 1.56.

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

Insider Activity at Neurogene

In related news, CFO Christine Mikail Cvijic sold 4,501 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $16.94, for a total value of $76,246.94. Following the completion of the transaction, the chief financial officer now directly owns 72,343 shares of the company’s stock, valued at approximately $1,225,490.42. This trade represents a 5.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.64% of the stock is owned by company insiders.

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.