Virtus ETF Advisers LLC Acquires 989 Shares of Neurogene Inc. (NASDAQ:NGNE)

Virtus ETF Advisers LLC grew its holdings in Neurogene Inc. (NASDAQ:NGNE) by 45.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,183 shares of the company’s stock after acquiring an additional 989 shares during the period. Virtus ETF Advisers LLC’s holdings in Neurogene were worth $73,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. PNC Financial Services Group Inc. purchased a new stake in shares of Neurogene in the 4th quarter worth $71,000. China Universal Asset Management Co. Ltd. purchased a new stake in Neurogene in the fourth quarter worth about $72,000. Wells Fargo & Company MN raised its stake in shares of Neurogene by 34.5% in the fourth quarter. Wells Fargo & Company MN now owns 5,444 shares of the company’s stock worth $124,000 after buying an additional 1,397 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Neurogene by 72.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,290 shares of the company’s stock worth $239,000 after buying an additional 4,334 shares during the period. Finally, Mariner LLC purchased a new position in shares of Neurogene during the 4th quarter valued at about $239,000. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on NGNE shares. HC Wainwright decreased their target price on shares of Neurogene from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, March 25th. BMO Capital Markets lowered their target price on shares of Neurogene from $45.00 to $16.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. William Blair reaffirmed an “outperform” rating on shares of Neurogene in a report on Tuesday, March 25th. Finally, Robert W. Baird set a $38.00 price target on Neurogene in a report on Tuesday, March 25th. Seven investment 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, the stock has a consensus rating of “Buy” and a consensus target price of $47.20.

Insiders Place Their Bets

In other news, CFO Christine Mikail Cvijic sold 4,501 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $16.94, for a total transaction of $76,246.94. Following the sale, the chief financial officer now directly owns 72,343 shares in the company, valued at approximately $1,225,490.42. This represents a 5.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 9.92% of the company’s stock.

Neurogene Stock Performance

NGNE opened at $14.50 on Tuesday. The stock has a market capitalization of $216.49 million, a price-to-earnings ratio of -3.40 and a beta of 1.46. Neurogene Inc. has a fifty-two week low of $6.88 and a fifty-two week high of $74.49. The company has a fifty day moving average of $13.89 and a 200 day moving average of $23.59.

Neurogene (NASDAQ:NGNE) last issued its quarterly earnings data on Monday, March 24th. The company reported ($0.99) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.05. The firm had revenue of $0.93 million for the quarter. On average, equities research analysts forecast that Neurogene Inc. will post -4.27 earnings per share for the current 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.