Virtus ETF Advisers LLC Boosts Stock Position in Neurogene Inc. (NASDAQ:NGNE)

Virtus ETF Advisers LLC boosted its holdings in shares of Neurogene Inc. (NASDAQ:NGNE) by 45.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,183 shares of the company’s stock after purchasing an additional 989 shares during the period. Virtus ETF Advisers LLC’s holdings in Neurogene were worth $73,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Barclays PLC grew its position in shares of Neurogene by 319.4% in the 3rd quarter. Barclays PLC now owns 14,859 shares of the company’s stock worth $623,000 after buying an additional 11,316 shares during the last quarter. Franklin Resources Inc. bought a new stake in Neurogene in the third quarter valued at $296,000. Wellington Management Group LLP increased its position in Neurogene by 18.7% during 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 position in Neurogene in the 4th quarter worth $71,000. Finally, Jane Street Group LLC purchased a new stake in shares of Neurogene in the 3rd quarter worth about $324,000. Institutional investors own 52.37% of the company’s stock.

Neurogene Trading Down 5.9 %

Neurogene stock opened at $14.50 on Tuesday. Neurogene Inc. has a 12 month low of $6.88 and a 12 month high of $74.49. The company has a market capitalization of $216.49 million, a price-to-earnings ratio of -3.40 and a beta of 1.46. The business’s fifty day simple moving average is $13.89 and its two-hundred day simple moving average is $23.59.

Neurogene (NASDAQ:NGNE) last announced its quarterly earnings results on Monday, March 24th. The company reported ($0.99) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.04) by $0.05. The firm had revenue of $0.93 million during the quarter. On average, equities research analysts predict that Neurogene Inc. will post -4.27 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on NGNE shares. HC Wainwright decreased their price target on shares of Neurogene from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, March 25th. Robert W. Baird set a $38.00 target price on Neurogene in a research report on Tuesday, March 25th. BMO Capital Markets dropped their price target on Neurogene from $45.00 to $16.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. Finally, William Blair reiterated an “outperform” rating on shares of Neurogene in a report on Tuesday, March 25th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Neurogene presently has an average rating of “Buy” and an average price target of $47.20.

Insider Activity

In related news, CFO Christine Mikail Cvijic sold 4,501 shares of the stock in a transaction 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 sale, the chief financial officer now directly 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 filing with the SEC, which is available at the SEC website. Corporate insiders own 9.92% of the company’s stock.

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.