RTW Investments LP Buys 64,691 Shares of Neurogene Inc. (NASDAQ:NGNE)

RTW Investments LP lifted its position in Neurogene Inc. (NASDAQ:NGNE - Free Report) by 6.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,135,256 shares of the company's stock after acquiring an additional 64,691 shares during the period. RTW Investments LP owned about 8.74% of Neurogene worth $47,635,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Quest Partners LLC acquired a new position in Neurogene during the second quarter valued at $55,000. BNP Paribas Financial Markets boosted its position in Neurogene by 192.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,170 shares of the company's stock worth $91,000 after acquiring an additional 1,429 shares during the period. SG Americas Securities LLC purchased a new position in Neurogene during the 3rd quarter valued at about $150,000. MetLife Investment Management LLC acquired a new position in shares of Neurogene in the 3rd quarter valued at about $254,000. Finally, Rhumbline Advisers purchased a new stake in shares of Neurogene in the second quarter worth approximately $491,000. Institutional investors and hedge funds own 52.37% of the company's stock.

Neurogene Trading Down 0.1 %

NASDAQ:NGNE traded down $0.03 during trading hours on Thursday, reaching $21.99. The company's stock had a trading volume of 246,008 shares, compared to its average volume of 179,264. Neurogene Inc. has a one year low of $12.49 and a one year high of $74.49. The business's 50-day moving average is $41.94 and its 200-day moving average is $38.99.

Insider Buying and Selling

In other Neurogene news, major shareholder Samsara Biocapital Gp, Llc acquired 48,770 shares of the business's stock in a transaction that occurred on Tuesday, November 26th. The stock was acquired at an average price of $25.83 per share, with a total value 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. This trade represents a 2.92 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rachel Mcminn bought 47,500 shares of the stock in a transaction 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 acquisition, the chief executive officer now directly owns 1,297,859 shares in the company, 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. In the last ninety days, insiders purchased 120,270 shares of company stock worth $2,720,249. 9.92% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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