Walleye Capital LLC Cuts Stock Holdings in Neurogene Inc. (NASDAQ:NGNE)

Walleye Capital LLC reduced its holdings in shares of Neurogene Inc. (NASDAQ:NGNE - Free Report) by 51.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 44,500 shares of the company's stock after selling 48,000 shares during the quarter. Walleye Capital LLC owned 0.34% of Neurogene worth $1,867,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Quest Partners LLC acquired a new stake in shares of Neurogene during the 2nd quarter valued at $55,000. BNP Paribas Financial Markets boosted its stake in shares of Neurogene by 192.8% during the third quarter. BNP Paribas Financial Markets now owns 2,170 shares of the company's stock valued at $91,000 after purchasing an additional 1,429 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Neurogene during the third quarter worth about $150,000. MetLife Investment Management LLC acquired a new position in shares of Neurogene in the third quarter valued at approximately $254,000. Finally, Rhumbline Advisers bought a new position in Neurogene in the 2nd quarter valued at approximately $491,000. Institutional investors own 52.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NGNE. Leerink Partners boosted their target price on shares of Neurogene from $45.00 to $72.00 and gave the stock an "outperform" rating in a report on Tuesday, November 12th. Robert W. Baird boosted their price objective on shares of Neurogene from $54.00 to $72.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 12th. BMO Capital Markets lowered their target price on Neurogene from $60.00 to $45.00 and set an "outperform" rating for the company in a research report on Wednesday, November 20th. Stifel Nicolaus upped their price target on Neurogene from $44.00 to $60.00 and gave the company a "buy" rating in a research report on Tuesday, November 12th. Finally, William Blair reissued an "outperform" rating on shares of Neurogene in a research note on Tuesday, November 19th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $60.83.

Insider Activity at Neurogene

In other Neurogene news, CFO Christine Mikail Cvijic purchased 24,000 shares of the firm's stock in a transaction on Friday, November 22nd. The stock was acquired at an average price of $20.48 per share, for a total transaction of $491,520.00. Following the purchase, the chief financial officer now owns 76,844 shares of the company's stock, valued at $1,573,765.12. This trade represents a 45.42 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Samsara Biocapital Gp, Llc acquired 48,770 shares of the stock in a transaction on Tuesday, November 26th. The shares were acquired at an average price of $25.83 per share, for a total transaction of $1,259,729.10. Following the acquisition, the insider now owns 1,717,127 shares of the company's stock, valued at approximately $44,353,390.41. The trade was a 2.92 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 120,270 shares of company stock valued at $2,720,249 in the last three months. Corporate insiders own 9.92% of the company's stock.

Neurogene Trading Down 1.7 %

NGNE traded down $0.38 during midday trading on Thursday, hitting $21.64. The company had a trading volume of 134,310 shares, compared to its average volume of 178,722. The stock's 50 day moving average price is $42.29 and its 200 day moving average price is $39.11. Neurogene Inc. has a 52 week low of $12.49 and a 52 week high of $74.49.

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.