Insider Selling: Neurogene Inc. (NASDAQ:NGNE) CFO Sells $76,246.94 in Stock

Neurogene Inc. (NASDAQ:NGNE) CFO Christine Mikail Cvijic sold 4,501 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $16.94, for a total value of $76,246.94. Following the transaction, the chief financial officer now directly owns 72,343 shares of the company’s stock, valued at approximately $1,225,490.42. This represents a 5.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Neurogene Trading Down 2.7 %

Shares of NASDAQ NGNE opened at $15.42 on Thursday. Neurogene Inc. has a twelve month low of $14.42 and a twelve month high of $74.49. The stock has a 50 day moving average of $17.42 and a two-hundred day moving average of $29.76.

Institutional Investors Weigh In On Neurogene

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in Neurogene by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 30,317 shares of the company’s stock valued at $1,272,000 after buying an additional 741 shares during the last quarter. Virtus ETF Advisers LLC lifted its stake in Neurogene by 45.1% in the fourth quarter. Virtus ETF Advisers LLC now owns 3,183 shares of the company’s stock valued at $73,000 after buying an additional 989 shares during the last quarter. Rhumbline Advisers lifted its stake in Neurogene by 9.2% in the fourth quarter. Rhumbline Advisers now owns 15,704 shares of the company’s stock valued at $359,000 after buying an additional 1,326 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Neurogene by 34.5% during the fourth quarter. Wells Fargo & Company MN now owns 5,444 shares of the company’s stock worth $124,000 after purchasing an additional 1,397 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of Neurogene by 192.8% during the third quarter. BNP Paribas Financial Markets now owns 2,170 shares of the company’s stock worth $91,000 after purchasing an additional 1,429 shares during the last quarter. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Analysts Set New Price Targets

NGNE has been the subject of a number of analyst reports. BMO Capital Markets lowered their price objective on Neurogene from $60.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. HC Wainwright reaffirmed a “buy” rating and issued a $55.00 price target on shares of Neurogene in a report on Monday, November 25th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $60.83.

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.