Jennison Associates LLC Increases Stock Position in Neurogene Inc. $NGNE

Jennison Associates LLC lifted its holdings in Neurogene Inc. (NASDAQ:NGNE) by 35.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 533,088 shares of the company’s stock after purchasing an additional 138,999 shares during the period. Jennison Associates LLC’s holdings in Neurogene were worth $10,982,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. BNP Paribas Financial Markets lifted its position in shares of Neurogene by 89.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,067 shares of the company’s stock worth $36,000 after purchasing an additional 978 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Neurogene by 24.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,055 shares of the company’s stock worth $88,000 after purchasing an additional 1,000 shares during the period. ADAR1 Capital Management LLC lifted its position in Neurogene by 3.4% during the third quarter. ADAR1 Capital Management LLC now owns 30,633 shares of the company’s stock valued at $531,000 after acquiring an additional 1,008 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Neurogene by 17.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,983 shares of the company’s stock valued at $82,000 after acquiring an additional 1,059 shares during the last quarter. Finally, Raiffeisen Bank International AG lifted its position in Neurogene by 13.3% during the third quarter. Raiffeisen Bank International AG now owns 34,000 shares of the company’s stock valued at $602,000 after acquiring an additional 4,000 shares during the last quarter. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NGNE. Guggenheim began coverage on shares of Neurogene in a research report on Tuesday. They set a “buy” rating and a $69.00 target price for the company. Lifesci Capital began coverage on shares of Neurogene in a research report on Monday, January 26th. They set an “outperform” rating and a $50.00 target price for the company. HC Wainwright reissued a “buy” rating and set a $70.00 target price on shares of Neurogene in a research report on Tuesday, January 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Neurogene in a research report on Tuesday, April 21st. Finally, Canaccord Genuity Group decreased their target price on shares of Neurogene to $180.00 and set a “buy” rating for the company in a research report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $67.00.

Insiders Place Their Bets

In other Neurogene news, CFO Christine Mikail Cvijic sold 4,045 shares of the firm’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $20.81, for a total value of $84,176.45. Following the completion of the transaction, the chief financial officer owned 105,798 shares of the company’s stock, valued at approximately $2,201,656.38. This trade represents a 3.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Stuart Cobb sold 6,797 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $20.81, for a total transaction of $141,445.57. Following the completion of the transaction, the insider directly owned 30,497 shares of the company’s stock, valued at approximately $634,642.57. This represents a 18.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 11.64% of the company’s stock.

Neurogene Stock Up 2.9%

NASDAQ:NGNE opened at $26.85 on Friday. Neurogene Inc. has a 52 week low of $11.77 and a 52 week high of $37.27. The firm has a 50 day moving average of $22.29 and a 200 day moving average of $22.18. The stock has a market capitalization of $419.40 million, a price-to-earnings ratio of -6.33 and a beta of 1.69.

Neurogene (NASDAQ:NGNE) last posted its quarterly earnings results on Tuesday, March 24th. The company reported ($1.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.20) by $0.08. As a group, analysts expect that Neurogene Inc. will post -5.35 EPS for the current year.

Neurogene Company Profile

Neurogene, Inc is a clinical?stage biotechnology company specializing in the development of gene therapies for rare neurological diseases. The company’s lead platform employs adeno?associated virus (AAV) vectors designed to deliver functional copies of disease-causing genes directly to the central nervous system. Neurogene’s pipeline focuses on inherited lysosomal storage disorders, including investigational programs for GM1 and GM2 gangliosidoses, with additional preclinical efforts targeting other monogenic neurodegenerative conditions.

Neurogene’s proprietary AAV9?based delivery system has been engineered to cross the blood-brain barrier, aiming to provide durable gene expression in affected tissues.