Neurogene Inc. (NASDAQ:NGNE) Shares Acquired by RTW Investments LP

RTW Investments LP grew its stake in Neurogene Inc. (NASDAQ:NGNE) by 6.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,135,256 shares of the company’s stock after purchasing an additional 64,691 shares during the period. RTW Investments LP owned approximately 8.74% of Neurogene worth $47,635,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Quest Partners LLC acquired a new position in shares of Neurogene in the second quarter valued at approximately $55,000. BNP Paribas Financial Markets increased its holdings in shares of Neurogene by 192.8% in the third quarter. BNP Paribas Financial Markets now owns 2,170 shares of the company’s stock valued at $91,000 after purchasing an additional 1,429 shares during the period. SG Americas Securities LLC acquired a new position in shares of Neurogene in the third quarter valued at approximately $150,000. MetLife Investment Management LLC acquired a new position in shares of Neurogene in the third quarter valued at approximately $254,000. Finally, Rhumbline Advisers acquired a new position in Neurogene during the second quarter worth $491,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

Neurogene Trading Down 1.4 %

NGNE opened at $22.02 on Thursday. The business’s fifty day moving average is $42.29 and its two-hundred day moving average is $39.11. Neurogene Inc. has a one year low of $12.49 and a one year high of $74.49.

Insiders Place Their Bets

In related news, major shareholder Samsara Biocapital Gp, Llc acquired 48,770 shares of Neurogene stock in a transaction dated Tuesday, November 26th. The shares were acquired at an average cost 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 of the company’s stock, valued at $44,353,390.41. The trade was a 2.92 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Christine Mikail Cvijic acquired 24,000 shares of Neurogene stock in a transaction dated Friday, November 22nd. The stock was bought at an average price of $20.48 per share, for a total transaction of $491,520.00. Following the completion of the transaction, the chief financial officer now directly owns 76,844 shares of the company’s stock, valued at approximately $1,573,765.12. This represents a 45.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 120,270 shares of company stock worth $2,720,249. 9.92% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on NGNE shares. BMO Capital Markets dropped their price objective on Neurogene from $60.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, November 20th. Stifel Nicolaus upped their price objective on Neurogene from $44.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Robert W. Baird upped 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 upped their price objective on Neurogene from $45.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Finally, William Blair reaffirmed an “outperform” rating on shares of Neurogene in a report on Tuesday, November 19th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $60.83.

Neurogene Company 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.