Neurogene’s (NGNE) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Neurogene (NASDAQ:NGNE) in a research report sent to investors on Monday,Benzinga reports. HC Wainwright currently has a $55.00 price objective on the stock.

NGNE has been the subject of a number of other research reports. Leerink Partners lifted their price target on Neurogene from $45.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Stifel Nicolaus lifted 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. Robert W. Baird lifted their price target on Neurogene from $54.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. BMO Capital Markets dropped their price target on Neurogene from $60.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. Finally, William Blair reiterated an “outperform” rating on shares of Neurogene in a research report on Tuesday, November 19th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Neurogene has a consensus rating of “Buy” and a consensus price target of $60.83.

Neurogene Stock Performance

Shares of NASDAQ NGNE opened at $22.32 on Monday. The business has a 50-day simple moving average of $44.56 and a two-hundred day simple moving average of $39.54. Neurogene has a 52 week low of $12.49 and a 52 week high of $74.49.

Insider Activity at Neurogene

In related news, CFO Christine Mikail Cvijic purchased 24,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were acquired at an average cost of $20.48 per share, with a total value of $491,520.00. Following the purchase, the chief financial officer now directly owns 76,844 shares of the company’s stock, valued at approximately $1,573,765.12. This trade represents a 45.42 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Rachel Mcminn purchased 47,500 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was bought at an average cost of $20.40 per share, for a total transaction of $969,000.00. Following the completion of the purchase, the chief executive officer now directly owns 1,297,859 shares in the company, valued at approximately $26,476,323.60. This trade represents a 3.80 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 9.92% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Neurogene

A number of large investors have recently bought and sold shares of NGNE. Quest Partners LLC purchased a new position in Neurogene in the 2nd quarter worth approximately $55,000. BNP Paribas Financial Markets increased 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 buying an additional 1,429 shares during the period. SG Americas Securities LLC purchased a new position in shares of Neurogene during the first quarter valued at approximately $120,000. MetLife Investment Management LLC purchased a new position in shares of Neurogene during the third quarter valued at approximately $254,000. Finally, Jane Street Group LLC purchased a new position in shares of Neurogene during the third quarter valued at approximately $324,000. 52.37% of the stock is owned by hedge funds and other institutional investors.

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.