Bank of New York Mellon Corp Purchases New Stake in Neurogene Inc. (NASDAQ:NGNE)

Bank of New York Mellon Corp acquired a new position in shares of Neurogene Inc. (NASDAQ:NGNE) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 30,428 shares of the company’s stock, valued at approximately $1,107,000. Bank of New York Mellon Corp owned approximately 0.23% of Neurogene at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Baker BROS. Advisors LP lifted its position in shares of Neurogene by 0.6% during the first quarter. Baker BROS. Advisors LP now owns 456,015 shares of the company’s stock worth $23,211,000 after purchasing an additional 2,499 shares during the last quarter. Vanguard Group Inc. raised its stake in Neurogene by 906.5% during the first quarter. Vanguard Group Inc. now owns 507,483 shares of the company’s stock valued at $25,831,000 after buying an additional 457,062 shares in the last quarter. SG Americas Securities LLC bought a new position in Neurogene during the 1st quarter worth approximately $120,000. Privium Fund Management UK Ltd acquired a new position in shares of Neurogene in the 1st quarter worth approximately $274,000. Finally, Great Point Partners LLC bought a new stake in shares of Neurogene in the 4th quarter valued at approximately $19,268,000. Institutional investors own 52.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Baird R W upgraded shares of Neurogene to a “strong-buy” rating in a research note on Tuesday, June 11th. Robert W. Baird started coverage on shares of Neurogene in a research report on Tuesday, June 11th. They issued an “outperform” rating and a $54.00 price objective on the stock. HC Wainwright decreased their target price on shares of Neurogene from $51.00 to $49.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Finally, BMO Capital Markets began coverage on Neurogene in a report on Thursday, June 27th. They set an “outperform” rating and a $65.00 price target on the stock. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $51.00.

Neurogene Trading Down 1.9 %

Shares of Neurogene stock opened at $40.75 on Friday. Neurogene Inc. has a 52 week low of $12.49 and a 52 week high of $53.00. The company’s 50-day moving average price is $38.56 and its two-hundred day moving average price is $37.53.

Neurogene (NASDAQ:NGNE) last released its earnings results on Friday, August 9th. The company reported ($1.09) EPS for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.07). The company had revenue of $0.93 million for the quarter. As a group, analysts expect that Neurogene Inc. will post -4.47 earnings per share for the current fiscal year.

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.