Seven Fleet Capital Management LP Makes New $694,000 Investment in Neurogene Inc. $NGNE

Seven Fleet Capital Management LP acquired a new stake in Neurogene Inc. (NASDAQ:NGNE) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 22,060 shares of the company’s stock, valued at approximately $694,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Renaissance Technologies LLC increased its position in shares of Neurogene by 210.0% during the first quarter. Renaissance Technologies LLC now owns 43,400 shares of the company’s stock valued at $875,000 after acquiring an additional 29,400 shares during the last quarter. BlackRock Inc. bought a new position in Neurogene during the second quarter valued at about $33,274,000. Deutsche Bank AG purchased a new stake in Neurogene during the second quarter worth about $3,354,000. Trails Edge Capital Partners LP purchased a new stake in Neurogene during the second quarter worth about $22,483,133. Finally, ADAR1 Capital Management LLC bought a new stake in Neurogene in the second quarter worth about $245,000. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Canaccord Genuity Group dropped their target price on shares of Neurogene from $180.00 to $166.00 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Neurogene in a research note on Friday, July 17th. UBS Group set a $70.00 price target on shares of Neurogene in a report on Wednesday, June 3rd. Rodman & Renshaw started coverage on Neurogene in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $70.00 price objective on the stock. Finally, Guggenheim increased their price objective on Neurogene from $69.00 to $81.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.67.

Insider Buying and Selling at Neurogene

In related news, CFO Christine Cvijic sold 4,200 shares of the business’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $36.13, for a total transaction of $151,746.00. Following the sale, the chief financial officer directly owned 84,040 shares in the company, valued at approximately $3,036,365.20. The trade was a 4.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 9,600 shares of company stock valued at $339,932 in the last three months. 11.68% of the stock is currently owned by insiders.

Neurogene Stock Up 2.6%

NASDAQ NGNE opened at $38.60 on Friday. The company’s 50 day moving average is $36.47 and its 200-day moving average is $29.01. Neurogene Inc. has a 12-month low of $15.93 and a 12-month high of $43.66. The firm has a market cap of $772.39 million, a P/E ratio of -7.67 and a beta of 1.69.

Neurogene (NASDAQ:NGNE) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($1.53) EPS for the quarter, missing analysts’ consensus estimates of ($1.42) by ($0.11). Equities analysts expect that Neurogene Inc. will post -5.62 EPS for the current year.

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.