Raiffeisen Bank International AG Makes New Investment in Neurogene Inc. (NASDAQ:NGNE)

Raiffeisen Bank International AG acquired a new stake in shares of Neurogene Inc. (NASDAQ:NGNE) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 16,000 shares of the company’s stock, valued at approximately $356,000. Raiffeisen Bank International AG owned approximately 0.11% of Neurogene at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. 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 valued at $73,000 after acquiring an additional 989 shares in the last quarter. Rhumbline Advisers raised its stake in Neurogene by 9.2% during the 4th quarter. Rhumbline Advisers now owns 15,704 shares of the company’s stock valued at $359,000 after purchasing an additional 1,326 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Neurogene by 34.5% in the fourth quarter. Wells Fargo & Company MN now owns 5,444 shares of the company’s stock valued at $124,000 after purchasing an additional 1,397 shares in the last quarter. Barclays PLC boosted its position in shares of Neurogene by 18.0% in the fourth quarter. Barclays PLC now owns 17,533 shares of the company’s stock worth $401,000 after buying an additional 2,674 shares during the period. Finally, PNC Financial Services Group Inc. purchased a new position in shares of Neurogene during the fourth quarter valued at $71,000. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NGNE. Baird R W lowered Neurogene from a “strong-buy” rating to a “hold” rating in a research report on Friday. BMO Capital Markets decreased their price target on shares of Neurogene from $45.00 to $16.00 and set an “outperform” rating for the company in a report on Monday, April 14th. William Blair reiterated an “outperform” rating on shares of Neurogene in a research note on Tuesday, March 25th. HC Wainwright cut their target price on shares of Neurogene from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, May 13th. Finally, Robert W. Baird cut shares of Neurogene from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $38.00 to $24.00 in a report on Friday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $43.40.

Neurogene Stock Down 7.1%

NASDAQ NGNE opened at $17.99 on Friday. The company has a 50 day moving average price of $13.49 and a two-hundred day moving average price of $20.48. Neurogene Inc. has a 12-month low of $6.88 and a 12-month high of $74.49. The stock has a market capitalization of $256.57 million, a PE ratio of -4.14 and a beta of 1.56.

Neurogene (NASDAQ:NGNE) last issued its quarterly earnings data on Friday, May 9th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.03). As a group, equities analysts anticipate that Neurogene Inc. will post -4.27 EPS for the current year.

Insider Transactions at Neurogene

In other news, CFO Christine Mikail Cvijic sold 4,501 shares of Neurogene stock in a transaction that occurred 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 transaction, the chief financial officer now owns 72,343 shares of the company’s stock, valued at $1,225,490.42. This trade represents a 5.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Stuart Cobb sold 6,797 shares of the company’s stock in a transaction on Wednesday, May 14th. The stock was 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 of the company’s stock, valued at approximately $315,029.10. This represents a 24.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.64% of the stock is currently owned by corporate insiders.

About Neurogene

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.