UBS Group AG Reduces Stock Position in Neurogene Inc. $NGNE

UBS Group AG decreased its holdings in Neurogene Inc. (NASDAQ:NGNE) by 32.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 154,123 shares of the company’s stock after selling 73,593 shares during the quarter. UBS Group AG’s holdings in Neurogene were worth $3,175,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Balyasny Asset Management L.P. purchased a new position in shares of Neurogene in the third quarter worth approximately $12,114,000. ArrowMark Colorado Holdings LLC boosted its holdings in shares of Neurogene by 1.8% in the third quarter. ArrowMark Colorado Holdings LLC now owns 595,839 shares of the company’s stock worth $10,326,000 after buying an additional 10,442 shares during the last quarter. Blair William & Co. IL boosted its holdings in shares of Neurogene by 6.4% in the third quarter. Blair William & Co. IL now owns 141,820 shares of the company’s stock worth $2,458,000 after buying an additional 8,584 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Neurogene by 81.6% in the second quarter. Bank of America Corp DE now owns 95,401 shares of the company’s stock worth $1,426,000 after buying an additional 42,880 shares during the last quarter. Finally, Raiffeisen Bank International AG boosted its holdings in shares of Neurogene by 13.3% in the third quarter. Raiffeisen Bank International AG now owns 34,000 shares of the company’s stock worth $602,000 after buying 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 equities analysts recently issued reports on the stock. Canaccord Genuity Group dropped their price objective on shares of Neurogene to $180.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Lifesci Capital assumed coverage on shares of Neurogene in a report on Monday, January 26th. They issued an “outperform” rating and a $50.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Neurogene in a report on Tuesday, April 21st. Finally, Guggenheim assumed coverage on shares of Neurogene in a report on Tuesday, April 28th. They issued a “buy” rating and a $69.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Neurogene presently has an average rating of “Moderate Buy” and an average target price of $74.17.

Neurogene Price Performance

Shares of NASDAQ:NGNE opened at $27.71 on Monday. Neurogene Inc. has a 1-year low of $14.65 and a 1-year high of $37.27. The company has a market capitalization of $437.87 million, a P/E ratio of -6.09 and a beta of 1.69. The firm’s 50 day simple moving average is $24.65 and its two-hundred day simple moving average is $21.91.

Neurogene (NASDAQ:NGNE) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($1.30) by ($0.09). On average, sell-side analysts anticipate that Neurogene Inc. will post -5.74 earnings per share for the current fiscal year.

Insider Activity at Neurogene

In other Neurogene news, insider Stuart Cobb sold 6,797 shares of Neurogene stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $20.81, for a total transaction of $141,445.57. Following the transaction, the insider owned 30,497 shares of the company’s stock, valued at $634,642.57. The trade was a 18.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christine Mikail Cvijic sold 9,600 shares of Neurogene stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $31.25, for a total transaction of $300,000.00. Following the transaction, the chief financial officer directly owned 93,640 shares in the company, valued at $2,926,250. This represents a 9.30% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 20,442 shares of company stock worth $525,622 in the last ninety days. Insiders own 11.68% of the company’s stock.

About Neurogene

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.