Neurogene Inc. (NASDAQ:NGNE) Given Consensus Rating of “Buy” by Brokerages

Shares of Neurogene Inc. (NASDAQ:NGNE) have been assigned an average recommendation of “Buy” from the eight analysts that are covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $60.83.

A number of equities research analysts recently weighed in on NGNE shares. Robert W. Baird lifted their target price on Neurogene from $54.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. BMO Capital Markets cut their target price on Neurogene from $60.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. HC Wainwright reiterated a “buy” rating and set a $55.00 price target on shares of Neurogene in a research note on Monday, November 25th. William Blair reaffirmed an “outperform” rating on shares of Neurogene in a report on Tuesday, November 19th. Finally, Leerink Partners upped their target price 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.

Insider Buying and Selling

In other Neurogene news, CFO Christine Mikail Cvijic acquired 24,000 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was purchased at an average price of $20.48 per share, for a total transaction of $491,520.00. Following the transaction, the chief financial officer now owns 76,844 shares in the company, valued at $1,573,765.12. This trade represents a 45.42 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Samsara Biocapital Gp, Llc bought 48,770 shares of the firm’s 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 acquisition, the insider now directly owns 1,717,127 shares of the company’s stock, valued at approximately $44,353,390.41. The trade was a 2.92 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 120,270 shares of company stock worth $2,720,249 in the last quarter. 9.92% of the stock is owned by corporate insiders.

Institutional Trading of Neurogene

Hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp acquired a new position in Neurogene during the 2nd quarter worth $1,107,000. Rhumbline Advisers bought a new stake in Neurogene during the 2nd quarter worth about $491,000. Quest Partners LLC acquired a new position in Neurogene during the 2nd quarter valued at about $55,000. Avoro Capital Advisors LLC acquired a new stake in shares of Neurogene during the 2nd quarter worth approximately $802,000. Finally, Integral Health Asset Management LLC bought a new stake in shares of Neurogene during the second quarter worth approximately $2,547,000. 52.37% of the stock is owned by institutional investors.

Neurogene Price Performance

Shares of Neurogene stock opened at $19.58 on Monday. The firm has a fifty day moving average price of $29.08 and a two-hundred day moving average price of $36.78. Neurogene has a fifty-two week low of $14.44 and a fifty-two week high of $74.49.

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.