Avoro Capital Advisors LLC Makes New Investment in Neurogene Inc. (NASDAQ:NGNE)

Avoro Capital Advisors LLC purchased a new stake in shares of Neurogene Inc. (NASDAQ:NGNE) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 22,029 shares of the company’s stock, valued at approximately $802,000. Avoro Capital Advisors LLC owned approximately 0.17% of Neurogene at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of NGNE. Great Point Partners LLC acquired a new position in shares of Neurogene in the 4th quarter valued at $19,268,000. Vanguard Group Inc. increased its holdings in 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 position in shares of Neurogene in the fourth quarter worth about $9,036,000. Baker BROS. Advisors LP boosted its stake in shares of Neurogene by 0.6% during the 1st quarter. Baker BROS. Advisors LP now owns 456,015 shares of the company’s stock worth $23,211,000 after acquiring an additional 2,499 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Neurogene during the 2nd quarter valued at about $1,107,000. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Neurogene Trading Down 1.9 %

NASDAQ:NGNE opened at $40.75 on Monday. Neurogene Inc. has a 1 year low of $12.49 and a 1 year high of $53.00. The stock has a fifty day moving average price of $38.56 and a two-hundred day moving average price of $37.53.

Neurogene (NASDAQ:NGNE) last announced its quarterly earnings results on Friday, August 9th. The company reported ($1.09) 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. Equities analysts anticipate that Neurogene Inc. will post -4.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NGNE shares. Baird R W raised shares of Neurogene to a “strong-buy” rating in a research note on Tuesday, June 11th. Robert W. Baird began coverage on shares of Neurogene in a report on Tuesday, June 11th. They set an “outperform” rating and a $54.00 target price for the company. BMO Capital Markets started coverage on shares of Neurogene in a research report on Thursday, June 27th. They set an “outperform” rating and a $65.00 price target on the stock. Finally, HC Wainwright dropped their price objective on shares of Neurogene from $51.00 to $49.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Neurogene presently has an average rating of “Buy” and an average target price of $51.00.

Neurogene 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.