Jennison Associates LLC Increases Holdings in Neurogene Inc. $NGNE

Jennison Associates LLC grew its holdings in shares of Neurogene Inc. (NASDAQ:NGNE) by 55.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 167,563 shares of the company’s stock after buying an additional 59,479 shares during the period. Jennison Associates LLC’s holdings in Neurogene were worth $2,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Corebridge Financial Inc. lifted its holdings in Neurogene by 13.8% during the 1st quarter. Corebridge Financial Inc. now owns 5,826 shares of the company’s stock worth $68,000 after buying an additional 705 shares during the last quarter. AlphaQuest LLC purchased a new stake in Neurogene during the 1st quarter worth about $77,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Neurogene by 17.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,983 shares of the company’s stock worth $82,000 after buying an additional 1,059 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Neurogene by 9.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 11,231 shares of the company’s stock valued at $132,000 after purchasing an additional 941 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in shares of Neurogene in the 1st quarter valued at about $148,000. 52.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. HC Wainwright boosted their target price on Neurogene from $45.00 to $65.00 and gave the company a “buy” rating in a report on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of Neurogene in a report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Neurogene has a consensus rating of “Moderate Buy” and a consensus target price of $49.50.

Neurogene Stock Up 3.4%

Shares of NGNE stock opened at $34.26 on Friday. The stock has a market capitalization of $488.89 million, a PE ratio of -7.95 and a beta of 1.58. Neurogene Inc. has a 52-week low of $6.88 and a 52-week high of $74.49. The stock’s 50-day moving average price is $23.49 and its 200 day moving average price is $20.37.

Neurogene (NASDAQ:NGNE) last issued its quarterly earnings results on Monday, August 11th. The company reported ($1.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.15) by $0.10. Analysts expect that Neurogene Inc. will post -4.27 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.