Samsara Biocapital Gp, Llc Purchases 48,770 Shares of Neurogene Inc. (NASDAQ:NGNE) Stock

Neurogene Inc. (NASDAQ:NGNE) major shareholder Samsara Biocapital Gp, Llc acquired 48,770 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were purchased at an average price of $25.83 per share, for a total transaction of $1,259,729.10. Following the completion of the transaction, the insider now directly owns 1,717,127 shares in the company, valued at approximately $44,353,390.41. This trade represents a 2.92 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Neurogene Stock Down 4.0 %

NASDAQ:NGNE opened at $25.80 on Friday. Neurogene Inc. has a 1 year low of $12.49 and a 1 year high of $74.49. The stock’s 50 day simple moving average is $43.67 and its two-hundred day simple moving average is $39.31.

Institutional Investors Weigh In On Neurogene

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Neurogene by 906.5% during the first quarter. Vanguard Group Inc. now owns 507,483 shares of the company’s stock valued at $25,831,000 after purchasing an additional 457,062 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Neurogene in the 2nd quarter valued at about $1,107,000. Rhumbline Advisers purchased a new position in Neurogene in the second quarter worth about $491,000. Quest Partners LLC bought a new stake in Neurogene during the second quarter worth approximately $55,000. Finally, Avoro Capital Advisors LLC bought a new stake in Neurogene during the second quarter worth approximately $802,000. Institutional investors own 52.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. William Blair reiterated an “outperform” rating on shares of Neurogene in a research note on Tuesday, November 19th. Leerink Partners increased their target price on Neurogene from $45.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. HC Wainwright reissued a “buy” rating and issued a $55.00 price target on shares of Neurogene in a report on Monday. BMO Capital Markets cut their price objective on shares of Neurogene from $60.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, November 20th. Finally, Robert W. Baird lifted their price objective on shares of Neurogene from $54.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $60.83.

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.