Shares of Neurogene Inc. (NASDAQ:NGNE - Get Free Report) have received a consensus recommendation of "Buy" from the eight research firms that are presently covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $60.83.
A number of analysts have commented on the company. Stifel Nicolaus boosted their target price on Neurogene from $44.00 to $60.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. Robert W. Baird boosted their price objective 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. HC Wainwright restated a "buy" rating and set a $55.00 target price on shares of Neurogene in a report on Monday, November 25th. BMO Capital Markets reduced their price target on shares of Neurogene from $60.00 to $45.00 and set an "outperform" rating on the stock in a report on Wednesday, November 20th. Finally, Leerink Partners raised their price objective on shares of Neurogene from $45.00 to $72.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 12th.
View Our Latest Stock Analysis on NGNE
Neurogene Price Performance
Shares of NASDAQ:NGNE traded down $0.11 during trading on Monday, hitting $23.12. 218,226 shares of the stock were exchanged, compared to its average volume of 229,805. The company has a fifty day moving average price of $30.97 and a two-hundred day moving average price of $37.15. Neurogene has a 12-month low of $14.44 and a 12-month high of $74.49.
Insider Transactions at Neurogene
In other Neurogene news, major shareholder Samsara Biocapital Gp, Llc purchased 48,770 shares of the 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 acquisition, the insider now directly owns 1,717,127 shares of the company's stock, valued at $44,353,390.41. This represents a 2.92 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CFO Christine Mikail Cvijic acquired 24,000 shares of the business's stock in a transaction dated Friday, November 22nd. The shares were bought at an average price of $20.48 per share, for a total transaction of $491,520.00. Following the completion of the acquisition, the chief financial officer now owns 76,844 shares in the company, valued at approximately $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. Insiders bought a total of 120,270 shares of company stock worth $2,720,249 over the last ninety days. 9.92% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Neurogene
A number of institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. purchased a new stake in shares of Neurogene during the 3rd quarter valued at $296,000. Barclays PLC boosted its holdings in Neurogene by 319.4% in the third quarter. Barclays PLC now owns 14,859 shares of the company's stock valued at $623,000 after acquiring an additional 11,316 shares during the last quarter. Jane Street Group LLC purchased a new stake in Neurogene during the third quarter valued at about $324,000. Wellington Management Group LLP acquired a new stake in Neurogene during the third quarter worth about $767,000. Finally, State Street Corp increased its stake in Neurogene by 17.5% during the third quarter. State Street Corp now owns 246,540 shares of the company's stock worth $10,345,000 after acquiring an additional 36,687 shares during the last quarter. 52.37% of the stock is currently owned by hedge funds and other institutional investors.
About Neurogene
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Get Free ReportNeurogene 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.
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