Avoro Capital Advisors LLC Invests $802,000 in Neurogene Inc. (NASDAQ:NGNE)

Avoro Capital Advisors LLC acquired a new stake in shares of Neurogene Inc. (NASDAQ:NGNE) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 22,029 shares of the company’s stock, valued at approximately $802,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of NGNE. Quest Partners LLC bought a new stake in shares of Neurogene during the second quarter valued at about $55,000. SG Americas Securities LLC bought a new stake in shares of Neurogene during the 1st quarter worth about $120,000. Privium Fund Management UK Ltd acquired a new stake in shares of Neurogene in the 1st quarter worth approximately $274,000. Rhumbline Advisers bought a new position in shares of Neurogene in the second quarter valued at approximately $491,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Neurogene during the second quarter valued at approximately $1,107,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

Neurogene Price Performance

Shares of NGNE stock opened at $40.75 on Monday. Neurogene Inc. has a 12-month low of $12.49 and a 12-month high of $53.00. The firm has a 50-day moving average price of $38.56 and a 200 day moving average price of $37.53.

Neurogene (NASDAQ:NGNE) last posted its earnings results on Friday, August 9th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.02) by ($0.07). The firm had revenue of $0.93 million during the quarter. On average, research analysts predict that Neurogene Inc. will post -4.47 EPS for the current year.

Analysts Set New Price Targets

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

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.