Insider Selling: Neurogene Inc. (NASDAQ:NGNE) CFO Sells 4,501 Shares of Stock

Neurogene Inc. (NASDAQ:NGNE) CFO Christine Mikail Cvijic sold 4,501 shares of the firm’s stock in a transaction that occurred on 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 owns 72,343 shares in the company, valued at approximately $1,225,490.42. The trade was a 5.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Neurogene Stock Performance

NGNE opened at $15.85 on Wednesday. The business has a 50 day moving average of $17.54 and a 200-day moving average of $29.86. Neurogene Inc. has a 52 week low of $14.42 and a 52 week high of $74.49.

Analyst Ratings Changes

NGNE has been the subject of several research analyst reports. BMO Capital Markets dropped their price objective on Neurogene from $60.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, November 20th. William Blair reiterated an “outperform” rating on shares of Neurogene in a report on Tuesday, November 19th. Finally, HC Wainwright reiterated a “buy” rating and issued a $55.00 price objective on shares of Neurogene in a report on Monday, November 25th. Seven 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 stock has an average rating of “Buy” and a consensus target price of $60.83.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NGNE. PNC Financial Services Group Inc. purchased a new position in shares of Neurogene in the 4th quarter valued at approximately $71,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Neurogene in the 4th quarter valued at approximately $72,000. Virtus ETF Advisers LLC lifted its stake in shares of Neurogene by 45.1% in the 4th quarter. Virtus ETF Advisers LLC now owns 3,183 shares of the company’s stock valued at $73,000 after purchasing an additional 989 shares during the period. BNP Paribas Financial Markets raised its stake in Neurogene by 192.8% during the third quarter. BNP Paribas Financial Markets now owns 2,170 shares of the company’s stock valued at $91,000 after buying an additional 1,429 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in Neurogene by 34.5% during the fourth quarter. Wells Fargo & Company MN now owns 5,444 shares of the company’s stock valued at $124,000 after buying an additional 1,397 shares during the last quarter. Hedge funds and other institutional investors own 52.37% of the company’s stock.

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.