Rachel Mcminn Buys 47,500 Shares of Neurogene Inc. (NASDAQ:NGNE) Stock

Neurogene Inc. (NASDAQ:NGNE) CEO Rachel Mcminn acquired 47,500 shares of the company’s stock in a transaction on 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 completion of the purchase, the chief executive officer now owns 1,297,859 shares of the company’s stock, valued at $26,476,323.60. This trade represents a 3.80 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Neurogene Stock Performance

NASDAQ NGNE traded up $2.02 during mid-day trading on Monday, hitting $22.32. The stock had a trading volume of 1,297,419 shares, compared to its average volume of 167,243. The company has a 50 day simple moving average of $44.56 and a 200 day simple moving average of $39.54. Neurogene Inc. has a 52-week low of $12.49 and a 52-week high of $74.49.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Robert W. Baird increased their price objective on Neurogene from $54.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. HC Wainwright reaffirmed a “buy” rating and set a $55.00 price target on shares of Neurogene in a report on Monday. William Blair reissued an “outperform” rating on shares of Neurogene in a research note on Tuesday, November 19th. Stifel Nicolaus raised their target price 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. Finally, Leerink Partners lifted their target price on shares of Neurogene from $45.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Eight equities research 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, the stock has a consensus rating of “Buy” and an average price target of $60.83.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. RTW Investments LP increased its stake in shares of Neurogene by 6.0% during the 3rd quarter. RTW Investments LP now owns 1,135,256 shares of the company’s stock worth $47,635,000 after purchasing an additional 64,691 shares in the last quarter. FMR LLC grew its holdings in Neurogene by 912.4% during the 3rd quarter. FMR LLC now owns 731,801 shares of the company’s stock valued at $30,706,000 after buying an additional 659,515 shares during the last quarter. Vanguard Group Inc. increased its position in Neurogene by 906.5% during the first quarter. Vanguard Group Inc. now owns 507,483 shares of the company’s stock worth $25,831,000 after buying an additional 457,062 shares in the last quarter. State Street Corp raised its holdings in shares of Neurogene by 17.5% in the third quarter. State Street Corp now owns 246,540 shares of the company’s stock worth $10,345,000 after acquiring an additional 36,687 shares during the last quarter. Finally, Driehaus Capital Management LLC lifted its position 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 valued at $3,719,000 after acquiring an additional 56,533 shares in the last quarter. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Neurogene Company Profile

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.