SG Americas Securities LLC Makes New Investment in Neurogene Inc. (NASDAQ:NGNE)

SG Americas Securities LLC bought a new position in Neurogene Inc. (NASDAQ:NGNE) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,576 shares of the company’s stock, valued at approximately $150,000.

Several other large investors also recently added to or reduced their stakes in NGNE. Vanguard Group Inc. grew its position in Neurogene by 906.5% in the first quarter. Vanguard Group Inc. now owns 507,483 shares of the company’s stock worth $25,831,000 after acquiring an additional 457,062 shares in the last quarter. Integral Health Asset Management LLC bought a new stake in Neurogene in the second quarter worth approximately $2,547,000. Driehaus Capital Management LLC grew its position in Neurogene by 123.8% in the second quarter. Driehaus Capital Management LLC now owns 102,187 shares of the company’s stock worth $3,719,000 after acquiring an additional 56,533 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Neurogene in the second quarter worth approximately $1,107,000. Finally, Avoro Capital Advisors LLC bought a new stake in shares of Neurogene during the 2nd quarter worth $802,000. 52.37% of the stock is owned by institutional investors.

Neurogene Price Performance

Shares of Neurogene stock opened at $48.20 on Friday. Neurogene Inc. has a fifty-two week low of $12.49 and a fifty-two week high of $55.21. The firm has a fifty day moving average price of $41.60 and a two-hundred day moving average price of $38.12.

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

Wall Street Analyst Weigh In

NGNE has been the subject of several recent analyst reports. HC Wainwright decreased their price objective on shares of Neurogene from $51.00 to $49.00 and set a “buy” rating for the company in a report on Monday, August 12th. BMO Capital Markets initiated coverage on shares of Neurogene in a report on Thursday, June 27th. They set an “outperform” rating and a $65.00 price objective for the company. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Neurogene has a consensus rating of “Buy” and an average target price of $51.00.

Neurogene Company Profile

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.