Christine Mikail Cvijic Sells 4,501 Shares of Neurogene Inc. (NASDAQ:NGNE) Stock

Neurogene Inc. (NASDAQ:NGNE) CFO Christine Mikail Cvijic sold 4,501 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $16.94, for a total transaction of $76,246.94. Following the completion of the sale, the chief financial officer now directly owns 72,343 shares in the company, valued at approximately $1,225,490.42. This represents a 5.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Neurogene Stock Performance

NGNE traded up $0.17 during trading on Monday, reaching $16.87. 159,451 shares of the stock traded hands, compared to its average volume of 207,908. The stock’s 50-day moving average is $17.78 and its 200 day moving average is $30.15. Neurogene Inc. has a 12 month low of $14.42 and a 12 month high of $74.49.

Wall Street Analyst Weigh In

NGNE has been the topic of several analyst reports. William Blair reissued an “outperform” rating on shares of Neurogene in a research note on Tuesday, November 19th. BMO Capital Markets reduced their price objective on shares of Neurogene from $60.00 to $45.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 20th. Finally, HC Wainwright reissued a “buy” rating and issued a $55.00 price objective on shares of Neurogene in a research note on Monday, November 25th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $60.83.

Hedge Funds Weigh In On Neurogene

A number of institutional investors and hedge funds have recently made changes to their positions in NGNE. Casdin Capital LLC boosted its position in shares of Neurogene by 146.9% during the 4th quarter. Casdin Capital LLC now owns 1,295,361 shares of the company’s stock worth $29,612,000 after purchasing an additional 770,745 shares in the last quarter. FMR LLC boosted its position in shares of Neurogene by 912.4% during the 3rd quarter. FMR LLC now owns 731,801 shares of the company’s stock worth $30,706,000 after purchasing an additional 659,515 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Neurogene by 10,395.3% during the 4th quarter. JPMorgan Chase & Co. now owns 481,001 shares of the company’s stock worth $10,996,000 after purchasing an additional 476,418 shares in the last quarter. Samsara BioCapital LLC boosted its position in shares of Neurogene by 35.4% during the 4th quarter. Samsara BioCapital LLC now owns 1,717,127 shares of the company’s stock worth $39,254,000 after purchasing an additional 449,337 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C bought a new position in shares of Neurogene during the 4th quarter worth about $10,245,000. 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.