Renaissance Technologies LLC Has $1.92 Million Stock Holdings in Neurogene Inc. (NASDAQ:NGNE)

Renaissance Technologies LLC cut its holdings in Neurogene Inc. (NASDAQ:NGNE) by 10.0% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 52,807 shares of the company’s stock after selling 5,900 shares during the quarter. Renaissance Technologies LLC’s holdings in Neurogene were worth $1,922,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Great Point Partners LLC acquired a new stake in shares of Neurogene in the fourth quarter valued at $19,268,000. Vanguard Group Inc. increased its stake in shares of Neurogene by 906.5% in 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. Avidity Partners Management LP acquired a new stake in shares of Neurogene in the fourth quarter valued at $9,036,000. Baker BROS. Advisors LP increased its stake in shares of Neurogene by 0.6% in the first quarter. Baker BROS. Advisors LP now owns 456,015 shares of the company’s stock valued at $23,211,000 after buying an additional 2,499 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Neurogene in the second quarter valued at $1,107,000. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Neurogene Trading Up 4.5 %

Neurogene stock opened at $41.75 on Thursday. The business’s 50-day simple moving average is $38.10 and its 200 day simple moving average is $37.75. Neurogene Inc. has a 12-month low of $12.49 and a 12-month high of $53.00.

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

Analysts Set New Price Targets

NGNE has been the subject of a number of research reports. HC Wainwright lowered their target price on Neurogene from $51.00 to $49.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Robert W. Baird initiated coverage on Neurogene in a report on Tuesday, June 11th. They issued an “outperform” rating and a $54.00 price target on the stock. Baird R W upgraded Neurogene to a “strong-buy” rating in a report on Tuesday, June 11th. Finally, BMO Capital Markets initiated coverage on Neurogene in a report on Thursday, June 27th. They issued an “outperform” rating and a $65.00 price target on the stock. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Neurogene currently has an average rating of “Buy” and an average price target 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.