Neurogene Inc. (NASDAQ:NGNE) Shares Purchased by State Street Corp

State Street Corp boosted its position in Neurogene Inc. (NASDAQ:NGNE) by 17.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 246,540 shares of the company’s stock after buying an additional 36,687 shares during the period. State Street Corp’s holdings in Neurogene were worth $10,345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in NGNE. Quest Partners LLC purchased a new stake in Neurogene in the 2nd quarter valued at about $55,000. BNP Paribas Financial Markets lifted its stake in shares of Neurogene by 192.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,170 shares of the company’s stock valued at $91,000 after purchasing an additional 1,429 shares in the last quarter. SG Americas Securities LLC acquired a new position in Neurogene during the third quarter valued at approximately $150,000. MetLife Investment Management LLC acquired a new position in shares of Neurogene during the 3rd quarter valued at $254,000. Finally, Rhumbline Advisers acquired a new position in shares of Neurogene during the second quarter worth about $491,000. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Neurogene Price Performance

Shares of Neurogene stock opened at $24.10 on Friday. Neurogene Inc. has a 1 year low of $14.44 and a 1 year high of $74.49. The stock has a 50-day moving average price of $34.73 and a 200 day moving average price of $37.79.

Insider Transactions at Neurogene

In other Neurogene news, major shareholder Samsara Biocapital Gp, Llc acquired 48,770 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was purchased at an average cost of $25.83 per share, for a total transaction of $1,259,729.10. Following the completion of the acquisition, the insider now owns 1,717,127 shares of the company’s stock, valued at approximately $44,353,390.41. This trade represents a 2.92 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Rachel Mcminn bought 47,500 shares of the stock in a transaction on Friday, November 22nd. The shares were acquired at an average cost of $20.40 per share, for a total transaction of $969,000.00. Following the completion of the transaction, the chief executive officer now directly 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 ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 120,270 shares of company stock valued at $2,720,249. 9.92% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on NGNE shares. William Blair reaffirmed an “outperform” rating on shares of Neurogene in a research report on Tuesday, November 19th. Stifel Nicolaus increased their target price on shares of Neurogene from $44.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Leerink Partners raised their target price on shares of Neurogene from $45.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Robert W. Baird upped their price objective on Neurogene from $54.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Finally, HC Wainwright reissued a “buy” rating and set a $55.00 target price on shares of Neurogene in a research note on Monday, November 25th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $60.83.

Neurogene 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.