Trails Edge Capital Partners LP Purchases Shares of 714,885 Neurogene Inc. $NGNE

Trails Edge Capital Partners LP acquired a new position in Neurogene Inc. (NASDAQ:NGNE) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 714,885 shares of the company’s stock, valued at approximately $22,483,133,000. Neurogene comprises approximately 3.6% of Trails Edge Capital Partners LP’s portfolio, making the stock its 13th biggest holding. Trails Edge Capital Partners LP owned 3.57% of Neurogene as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of NGNE. Jennison Associates LLC grew its holdings in shares of Neurogene by 35.3% in the fourth quarter. Jennison Associates LLC now owns 533,088 shares of the company’s stock valued at $10,982,000 after purchasing an additional 138,999 shares in the last quarter. Renaissance Technologies LLC raised its stake in Neurogene by 210.0% during the first quarter. Renaissance Technologies LLC now owns 43,400 shares of the company’s stock valued at $875,000 after purchasing an additional 29,400 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Neurogene during the fourth quarter valued at $165,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Neurogene by 17.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,983 shares of the company’s stock worth $82,000 after buying an additional 1,059 shares in the last quarter. Finally, Daiwa Securities Group Inc. purchased a new position in shares of Neurogene in the 4th quarter worth $66,000. 52.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. UBS Group set a $70.00 target price on shares of Neurogene in a report on Wednesday, June 3rd. HC Wainwright dropped their price target on Neurogene from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, August 12th. Rodman & Renshaw started coverage on Neurogene in a research report on Wednesday, June 3rd. They set a “buy” rating and a $70.00 price objective on the stock. Canaccord Genuity Group dropped their target price on Neurogene from $180.00 to $166.00 and set a “buy” rating for the company in a report on Wednesday, August 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Neurogene in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Neurogene currently has a consensus rating of “Moderate Buy” and an average price target of $83.67.

Insider Transactions at Neurogene

In related news, CFO Christine Mikail Cvijic sold 4,200 shares of the business’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $36.13, for a total transaction of $151,746.00. Following the completion of the transaction, the chief financial officer owned 84,040 shares in the company, valued at $3,036,365.20. The trade was a 4.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 9,600 shares of company stock worth $339,932. 11.68% of the stock is owned by insiders.

Neurogene Price Performance

Neurogene stock opened at $40.84 on Wednesday. The firm has a market capitalization of $817.21 million, a P/E ratio of -8.12 and a beta of 1.70. Neurogene Inc. has a 1-year low of $15.93 and a 1-year high of $43.66. The company’s 50-day moving average is $35.43 and its 200 day moving average is $27.94.

Neurogene (NASDAQ:NGNE) last announced its earnings results on Tuesday, August 11th. The company reported ($1.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.42) by ($0.11). Research analysts anticipate that Neurogene Inc. will post -5.62 earnings per share for the current fiscal year.

About Neurogene

Neurogene, Inc is a clinical‐stage biotechnology company specializing in the development of gene therapies for rare neurological diseases. The company’s lead platform employs adeno‐associated virus (AAV) vectors designed to deliver functional copies of disease-causing genes directly to the central nervous system. Neurogene’s pipeline focuses on inherited lysosomal storage disorders, including investigational programs for GM1 and GM2 gangliosidoses, with additional preclinical efforts targeting other monogenic neurodegenerative conditions.

Neurogene’s proprietary AAV9‐based delivery system has been engineered to cross the blood-brain barrier, aiming to provide durable gene expression in affected tissues.