Neurogene Inc. (NASDAQ:NGNE) CEO Rachel Mcminn Purchases 47,500 Shares

Neurogene Inc. (NASDAQ:NGNE) CEO Rachel Mcminn bought 47,500 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was acquired at an average price of $20.40 per share, for a total transaction of $969,000.00. Following the acquisition, the chief executive officer now directly owns 1,297,859 shares in the company, valued at $26,476,323.60. This trade represents a 3.80 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Neurogene Trading Up 9.9 %

NGNE opened at $22.32 on Tuesday. The stock has a 50-day moving average of $44.56 and a 200-day moving average of $39.54. Neurogene Inc. has a 52-week low of $12.49 and a 52-week high of $74.49.

Institutional Investors Weigh In On Neurogene

A number of large investors have recently added to or reduced their stakes in the stock. RTW Investments LP lifted its stake in shares of Neurogene by 6.0% in the third quarter. RTW Investments LP now owns 1,135,256 shares of the company’s stock worth $47,635,000 after buying an additional 64,691 shares during the last quarter. FMR LLC lifted its position in 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 acquiring an additional 659,515 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Neurogene by 906.5% during the first quarter. Vanguard Group Inc. now owns 507,483 shares of the company’s stock valued at $25,831,000 after acquiring an additional 457,062 shares during the period. State Street Corp grew its position in shares of Neurogene by 17.5% in the third quarter. State Street Corp now owns 246,540 shares of the company’s stock valued at $10,345,000 after purchasing an additional 36,687 shares during the last quarter. Finally, Driehaus Capital Management LLC increased its stake in shares of Neurogene by 123.8% in the second quarter. Driehaus Capital Management LLC now owns 102,187 shares of the company’s stock worth $3,719,000 after purchasing an additional 56,533 shares during the period. Institutional investors own 52.37% of the company’s stock.

Wall Street Analysts Forecast Growth

NGNE has been the topic of several research reports. Leerink Partners upped their price objective on shares of Neurogene from $45.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. BMO Capital Markets dropped their price target 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. Stifel Nicolaus lifted their price objective on Neurogene from $44.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. HC Wainwright reaffirmed a “buy” rating and issued a $55.00 target price on shares of Neurogene in a research report on Monday. Finally, Robert W. Baird lifted their price target on Neurogene from $54.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Neurogene presently has a consensus rating of “Buy” and a consensus target price of $60.83.

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.