Brokerages Set Neurogene Inc. (NASDAQ:NGNE) PT at $60.83

Shares of Neurogene Inc. (NASDAQ:NGNE) have been given an average rating of “Buy” by the eight ratings firms that are currently covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $60.83.

Several equities research analysts have commented on the company. Leerink Partners boosted their target price on Neurogene from $45.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. William Blair restated an “outperform” rating on shares of Neurogene in a research note on Tuesday, November 19th. HC Wainwright reiterated a “buy” rating and issued a $55.00 target price on shares of Neurogene in a research note on Monday, November 25th. BMO Capital Markets reduced their price target on shares of Neurogene from $60.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. Finally, Robert W. Baird upped their price objective on Neurogene from $54.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th.

Insiders Place Their Bets

In other Neurogene news, CFO Christine Mikail Cvijic bought 24,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was bought at an average cost of $20.48 per share, for a total transaction 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 $1,573,765.12. This represents a 45.42 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Samsara Biocapital Gp, Llc bought 48,770 shares of Neurogene stock in a transaction on Tuesday, November 26th. The shares were acquired at an average cost of $25.83 per share, with a total value of $1,259,729.10. Following the completion of the acquisition, the insider now 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 position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 120,270 shares of company stock valued at $2,720,249. Company insiders own 9.92% of the company’s stock.

Institutional Investors Weigh In On Neurogene

A number of hedge funds have recently modified their holdings of the business. Rhumbline Advisers grew its stake in shares of Neurogene by 9.2% during the 4th quarter. Rhumbline Advisers now owns 15,704 shares of the company’s stock valued at $359,000 after acquiring an additional 1,326 shares during the period. China Universal Asset Management Co. Ltd. bought a new position in shares of Neurogene in the fourth quarter worth approximately $72,000. Franklin Resources Inc. purchased a new stake in shares of Neurogene in the third quarter worth $296,000. Barclays PLC raised its position in shares of Neurogene by 319.4% during the 3rd quarter. Barclays PLC now owns 14,859 shares of the company’s stock valued at $623,000 after purchasing an additional 11,316 shares during the period. Finally, Jane Street Group LLC bought a new position in Neurogene in the 3rd quarter worth $324,000. Institutional investors own 52.37% of the company’s stock.

Neurogene Price Performance

Shares of NGNE opened at $18.08 on Friday. The business’s 50 day moving average price is $21.00 and its 200-day moving average price is $34.26. Neurogene has a 52 week low of $14.42 and a 52 week high of $74.49.

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.