Neurogene Inc. (NASDAQ:NGNE) CEO Buys $969,000.00 in Stock

Neurogene Inc. (NASDAQ:NGNE) CEO Rachel Mcminn purchased 47,500 shares of Neurogene stock in a transaction dated 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Neurogene Stock Performance

Shares of NGNE opened at $25.80 on Thursday. The firm’s fifty day simple moving average is $43.99 and its 200-day simple moving average is $39.40. Neurogene Inc. has a twelve month low of $12.49 and a twelve month high of $74.49.

Institutional Trading of Neurogene

A number of institutional investors have recently bought and sold shares of the business. Quest Partners LLC purchased a new position in shares of Neurogene in the 2nd quarter valued at about $55,000. BNP Paribas Financial Markets boosted its holdings in Neurogene by 192.8% in 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 purchased a new position in Neurogene in the first quarter valued at approximately $120,000. MetLife Investment Management LLC acquired a new stake in Neurogene during the third quarter worth approximately $254,000. Finally, Franklin Resources Inc. purchased a new stake in shares of Neurogene during the 3rd quarter worth approximately $296,000. 52.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. William Blair reissued an “outperform” rating on shares of Neurogene in a research note on Tuesday, November 19th. Leerink Partners increased their price target on shares of Neurogene from $45.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. HC Wainwright restated a “buy” rating and issued a $55.00 price objective on shares of Neurogene in a report on Monday. Robert W. Baird increased their target price on shares of Neurogene from $54.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Finally, Stifel Nicolaus boosted their price target on shares of Neurogene from $44.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company 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.