Quest Partners LLC Invests $55,000 in Neurogene Inc. (NASDAQ:NGNE)

Quest Partners LLC acquired a new stake in shares of Neurogene Inc. (NASDAQ:NGNE) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,523 shares of the company’s stock, valued at approximately $55,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NGNE. SG Americas Securities LLC bought a new stake in Neurogene in the first quarter valued at $120,000. Privium Fund Management UK Ltd bought a new stake in Neurogene in the 1st quarter valued at about $274,000. Rhumbline Advisers bought a new stake in Neurogene in the 2nd quarter valued at about $491,000. Bank of New York Mellon Corp acquired a new position in Neurogene during the 2nd quarter valued at about $1,107,000. Finally, Avidity Partners Management LP bought a new position in Neurogene in the 4th quarter worth about $9,036,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Neurogene Stock Up 2.6 %

Shares of NASDAQ NGNE opened at $41.30 on Thursday. 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 $38.60 and a two-hundred day moving average price of $37.48.

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

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.