Neurogene Inc. (NASDAQ:NGNE) CFO Acquires $491,520.00 in Stock

Neurogene Inc. (NASDAQ:NGNE) CFO Christine Mikail Cvijic purchased 24,000 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was purchased at an average price 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 approximately $1,573,765.12. This trade represents a 45.42 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Neurogene Stock Down 4.0 %

Neurogene stock opened at $25.80 on Thursday. Neurogene Inc. has a 52-week low of $12.49 and a 52-week high of $74.49. The firm’s fifty day moving average is $43.99 and its 200 day moving average is $39.40.

Wall Street Analyst Weigh In

NGNE has been the subject of a number of analyst reports. HC Wainwright reiterated a “buy” rating and issued a $55.00 price target on shares of Neurogene in a research note on Monday. BMO Capital Markets dropped their price objective on Neurogene from $60.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. Stifel Nicolaus boosted their price target on Neurogene from $44.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. William Blair reaffirmed an “outperform” rating on shares of Neurogene in a report on Tuesday, November 19th. Finally, Leerink Partners boosted their target price on shares of Neurogene from $45.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $60.83.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its stake in Neurogene by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 30,317 shares of the company’s stock worth $1,272,000 after acquiring an additional 741 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Neurogene by 192.8% in the 3rd 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. Quest Partners LLC bought a new position in shares of Neurogene during the 2nd quarter valued at approximately $55,000. SG Americas Securities LLC purchased a new stake in Neurogene during the 1st quarter valued at $120,000. Finally, MetLife Investment Management LLC bought a new stake in Neurogene in the third quarter worth $254,000. Institutional investors own 52.37% of the company’s stock.

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.