Neurogene (NASDAQ:NGNE) Receives Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Neurogene (NASDAQ:NGNE) in a report published on Monday,Benzinga reports. They currently have a $55.00 price objective on the stock.

A number of other equities analysts have also commented on the stock. William Blair restated an “outperform” rating on shares of Neurogene in a research report on Tuesday, November 19th. Robert W. Baird raised their price target on Neurogene from $54.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Leerink Partners boosted their price objective on Neurogene from $45.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. BMO Capital Markets lowered their target price on Neurogene from $60.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. Finally, Stifel Nicolaus upped their price target on shares of Neurogene from $44.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Neurogene presently has a consensus rating of “Buy” and a consensus price target of $60.83.

Neurogene Price Performance

Shares of NASDAQ NGNE opened at $25.80 on Monday. Neurogene has a 52-week low of $12.49 and a 52-week high of $74.49. The business has a fifty day moving average of $43.99 and a two-hundred day moving average of $39.40.

Insider Buying and Selling at Neurogene

In other Neurogene news, major shareholder Samsara Biocapital Gp, Llc bought 48,770 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was bought at an average price of $25.83 per share, for a total transaction of $1,259,729.10. Following the transaction, the insider now owns 1,717,127 shares of the company’s stock, valued at approximately $44,353,390.41. The trade was a 2.92 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Rachel Mcminn purchased 47,500 shares of Neurogene stock in a transaction dated Friday, November 22nd. The stock was bought at an average price 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 in the company, valued at $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. In the last three months, insiders have acquired 120,270 shares of company stock worth $2,720,249. Company insiders own 9.92% of the company’s stock.

Hedge Funds Weigh In On Neurogene

Several institutional investors have recently modified their holdings of NGNE. Quest Partners LLC bought a new position in Neurogene during the 2nd quarter worth approximately $55,000. BNP Paribas Financial Markets raised its holdings in Neurogene by 192.8% in 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 period. SG Americas Securities LLC bought a new position in shares of Neurogene during the first quarter worth $120,000. MetLife Investment Management LLC acquired a new position in shares of Neurogene in the 3rd quarter valued at $254,000. Finally, Franklin Resources Inc. bought a new stake in shares of Neurogene in the 3rd quarter valued at $296,000. 52.37% of the stock is currently owned by institutional investors and hedge funds.

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.