Analysts Set Neurogene Inc. (NASDAQ:NGNE) Price Target at $60.83

Shares of Neurogene Inc. (NASDAQ:NGNE) have been given an average recommendation of “Buy” by the eight research firms that are presently covering the firm, MarketBeat.com reports. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $60.83.

Several analysts have recently issued reports on the company. Stifel Nicolaus upped their price target on Neurogene from $44.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. William Blair restated an “outperform” rating on shares of Neurogene in a report on Tuesday, November 19th. Leerink Partners increased their price target on Neurogene from $45.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. HC Wainwright restated a “buy” rating and issued a $55.00 price objective on shares of Neurogene in a research note on Monday, November 25th. Finally, BMO Capital Markets decreased their price objective on shares of Neurogene from $60.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, November 20th.

Insider Transactions at Neurogene

In other news, CEO Rachel Mcminn bought 47,500 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was acquired at an average cost of $20.40 per share, for a total transaction of $969,000.00. Following the completion of the purchase, the chief executive officer now owns 1,297,859 shares of the company’s stock, valued at $26,476,323.60. This trade represents a 3.80 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Christine Mikail Cvijic bought 24,000 shares of Neurogene stock in a transaction that occurred on Friday, November 22nd. The stock was purchased at an average cost of $20.48 per share, with a total value of $491,520.00. Following the completion of the transaction, the chief financial officer now owns 76,844 shares of the company’s stock, valued at $1,573,765.12. This trade represents a 45.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 120,270 shares of company stock worth $2,720,249. Insiders own 9.92% of the company’s stock.

Hedge Funds Weigh In On Neurogene

A number of hedge funds have recently made changes to their positions in NGNE. RTW Investments LP boosted its position in shares of Neurogene by 6.0% during the 3rd quarter. RTW Investments LP now owns 1,135,256 shares of the company’s stock valued at $47,635,000 after acquiring an additional 64,691 shares in the last quarter. FMR LLC lifted its stake in Neurogene by 912.4% during the third quarter. FMR LLC now owns 731,801 shares of the company’s stock worth $30,706,000 after purchasing an additional 659,515 shares during the period. State Street Corp boosted its holdings in Neurogene by 17.5% during the third quarter. State Street Corp now owns 246,540 shares of the company’s stock valued at $10,345,000 after purchasing an additional 36,687 shares in the last quarter. Driehaus Capital Management LLC boosted its holdings in Neurogene by 123.8% during the second quarter. Driehaus Capital Management LLC now owns 102,187 shares of the company’s stock valued at $3,719,000 after purchasing an additional 56,533 shares in the last quarter. Finally, Jennison Associates LLC bought a new stake in shares of Neurogene in the 3rd quarter valued at approximately $3,300,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

Neurogene Trading Down 1.7 %

Shares of NASDAQ:NGNE opened at $21.49 on Monday. Neurogene has a 1 year low of $14.44 and a 1 year high of $74.49. The firm has a fifty day moving average price of $30.06 and a 200 day moving average price of $36.97.

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.