Neurogene Inc. (NASDAQ:NGNE) Shares Bought by Fmr LLC

FMR LLC boosted its holdings in shares of Neurogene Inc. (NASDAQ:NGNE - Free Report) by 912.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 731,801 shares of the company's stock after buying an additional 659,515 shares during the period. FMR LLC owned approximately 5.63% of Neurogene worth $30,706,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Neurogene by 906.5% in the 1st quarter. Vanguard Group Inc. now owns 507,483 shares of the company's stock worth $25,831,000 after acquiring an additional 457,062 shares in the last quarter. Jennison Associates LLC bought a new stake in shares of Neurogene in the 3rd quarter worth $3,300,000. Integral Health Asset Management LLC bought a new stake in shares of Neurogene in the 2nd quarter worth $2,547,000. Driehaus Capital Management LLC grew its stake in shares of Neurogene by 123.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 102,187 shares of the company's stock worth $3,719,000 after acquiring an additional 56,533 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of Neurogene in the 2nd quarter worth $1,107,000. Institutional investors and hedge funds own 52.37% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on NGNE shares. Leerink Partners increased their price target on shares of Neurogene from $45.00 to $72.00 and gave the company an "outperform" rating in a research report on Tuesday, November 12th. HC Wainwright restated a "buy" rating and set a $55.00 price target on shares of Neurogene in a research report on Monday, November 25th. William Blair reiterated an "outperform" rating on shares of Neurogene in a research report on Tuesday, November 19th. Robert W. Baird increased their target price on shares of Neurogene from $54.00 to $72.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 12th. Finally, BMO Capital Markets cut their target price on shares of Neurogene from $60.00 to $45.00 and set an "outperform" rating for the company in a research report on Wednesday, November 20th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Neurogene has a consensus rating of "Buy" and a consensus price target of $60.83.

Insider Activity at Neurogene

In related news, major shareholder Samsara Biocapital Gp, Llc purchased 48,770 shares of the business's stock in a transaction that occurred on Tuesday, November 26th. The shares were acquired at an average price of $25.83 per share, for a total transaction of $1,259,729.10. Following the completion of the acquisition, the insider now directly owns 1,717,127 shares in the company, valued at approximately $44,353,390.41. The trade was a 2.92 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Christine Mikail Cvijic acquired 24,000 shares of the stock in a transaction on Friday, November 22nd. The shares were purchased at an average cost of $20.48 per share, with a total value of $491,520.00. Following the transaction, the chief financial officer now directly owns 76,844 shares of the company's stock, valued at approximately $1,573,765.12. This trade represents a 45.42 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 120,270 shares of company stock valued at $2,720,249 over the last three months. 9.92% of the stock is owned by corporate insiders.

Neurogene Trading Down 1.7 %

Shares of Neurogene stock traded down $0.41 on Monday, reaching $23.31. The stock had a trading volume of 197,792 shares, compared to its average volume of 179,653. Neurogene Inc. has a 1 year low of $12.49 and a 1 year high of $74.49. The business's 50 day moving average is $41.24 and its two-hundred day moving average is $38.95.

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.