Brokerages Set Neurogene Inc. (NASDAQ:NGNE) PT at $60.83

Neurogene Inc. (NASDAQ:NGNE) has been given an average rating of “Buy” by the eight analysts that are currently covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $60.83.

NGNE has been the subject of several research reports. Stifel Nicolaus raised their target price on Neurogene from $44.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. HC Wainwright reissued a “buy” rating and issued a $55.00 price target on shares of Neurogene in a report on Monday, November 25th. BMO Capital Markets lowered their price objective on shares of Neurogene from $60.00 to $45.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 20th. William Blair reissued an “outperform” rating on shares of Neurogene in a research note on Tuesday, November 19th. Finally, Leerink Partners raised 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.

Insider Buying and Selling at Neurogene

In other Neurogene news, major shareholder Samsara Biocapital Gp, Llc purchased 48,770 shares of the stock in a transaction dated 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 completion of the acquisition, the insider now owns 1,717,127 shares of the company’s stock, valued at $44,353,390.41. This represents a 2.92 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christine Mikail Cvijic purchased 24,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were acquired at an average cost of $20.48 per share, for a total transaction of $491,520.00. Following the completion of the transaction, the chief financial officer now directly 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 disclosure for this purchase can be found here. Over the last ninety days, insiders bought 120,270 shares of company stock valued at $2,720,249. 9.92% of the stock is currently owned by corporate insiders.

Institutional Trading of Neurogene

A number of hedge funds have recently made changes to their positions in NGNE. RTW Investments LP boosted its position in Neurogene by 6.0% during the third quarter. RTW Investments LP now owns 1,135,256 shares of the company’s stock valued at $47,635,000 after purchasing an additional 64,691 shares during the last quarter. FMR LLC raised its stake in shares of Neurogene by 912.4% during the 3rd quarter. FMR LLC now owns 731,801 shares of the company’s stock worth $30,706,000 after purchasing an additional 659,515 shares in the last quarter. State Street Corp lifted its holdings in shares of Neurogene by 17.5% during the 3rd quarter. State Street Corp now owns 246,540 shares of the company’s stock valued at $10,345,000 after buying an additional 36,687 shares during the last quarter. Driehaus Capital Management LLC grew its stake in shares of Neurogene by 123.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 102,187 shares of the company’s stock valued at $3,719,000 after buying an additional 56,533 shares in the last quarter. Finally, Jennison Associates LLC acquired a new position in Neurogene in the third quarter worth approximately $3,300,000. 52.37% of the stock is owned by hedge funds and other institutional investors.

Neurogene Stock Down 1.7 %

Shares of NASDAQ NGNE opened at $21.49 on Monday. Neurogene has a 1 year low of $14.44 and a 1 year high of $74.49. The stock has a fifty day moving average price of $30.06 and a two-hundred day moving average price of $36.97.

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.