Neurogene’s (NGNE) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Neurogene (NASDAQ:NGNE) in a research report released on Monday morning,Benzinga reports. The firm currently has a $55.00 target price on the stock.

Other research analysts have also recently issued reports about the stock. William Blair reiterated an “outperform” rating on shares of Neurogene in a research note on Tuesday, November 19th. BMO Capital Markets dropped their price objective on Neurogene from $60.00 to $45.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 20th. Leerink Partners raised their target price on Neurogene from $45.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Stifel Nicolaus upped their price target on Neurogene from $44.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, Robert W. Baird increased their price target on Neurogene from $54.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $60.83.

Neurogene Price Performance

Shares of NASDAQ:NGNE opened at $25.80 on Monday. The company’s 50-day moving average is $43.67 and its 200 day moving average is $39.31. Neurogene has a fifty-two week low of $12.49 and a fifty-two week high of $74.49.

Insider Transactions at Neurogene

In other news, CEO Rachel Mcminn bought 47,500 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were acquired at an average price of $20.40 per share, with a total value of $969,000.00. Following the acquisition, the chief executive officer now owns 1,297,859 shares of the company’s stock, valued at approximately $26,476,323.60. The trade was a 3.80 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Samsara Biocapital Gp, Llc bought 48,770 shares of the stock in a transaction on Tuesday, November 26th. The stock was purchased at an average price of $25.83 per share, for a total transaction of $1,259,729.10. Following the completion of the purchase, the insider now directly owns 1,717,127 shares in the company, valued at approximately $44,353,390.41. This represents a 2.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 120,270 shares of company stock valued at $2,720,249 over the last three months. Company insiders own 9.92% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NGNE. Charles Schwab Investment Management Inc. boosted its stake in Neurogene by 2.5% during 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 period. BNP Paribas Financial Markets boosted its position in shares of Neurogene by 192.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,170 shares of the company’s stock valued at $91,000 after acquiring an additional 1,429 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Neurogene during the second quarter worth about $55,000. SG Americas Securities LLC purchased a new position in shares of Neurogene during the first quarter worth about $120,000. Finally, MetLife Investment Management LLC bought a new position in shares of Neurogene in the third quarter worth approximately $254,000. 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.