Christine Mikail Cvijic Acquires 24,000 Shares of Neurogene Inc. (NASDAQ:NGNE) Stock

Neurogene Inc. (NASDAQ:NGNE) CFO Christine Mikail Cvijic bought 24,000 shares of Neurogene stock in a transaction dated Friday, November 22nd. The shares were 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 approximately $1,573,765.12. This trade represents a 45.42 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Neurogene Stock Performance

NASDAQ:NGNE opened at $26.87 on Wednesday. The company’s 50-day simple moving average is $44.30 and its 200-day simple moving average is $39.50. Neurogene Inc. has a fifty-two week low of $12.49 and a fifty-two week high of $74.49.

Analyst Upgrades and Downgrades

Several research firms have commented on NGNE. Stifel Nicolaus raised 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. HC Wainwright restated a “buy” rating and issued a $55.00 price objective on shares of Neurogene in a report on Monday. Robert W. Baird increased their target price on shares of Neurogene from $54.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. 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 report on Wednesday, November 20th. Finally, Leerink Partners increased their price objective on shares of Neurogene from $45.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $60.83.

Institutional Investors Weigh In On Neurogene

Several institutional investors have recently bought and sold shares of the company. Barclays PLC increased its position in shares of Neurogene by 319.4% during the third quarter. Barclays PLC now owns 14,859 shares of the company’s stock worth $623,000 after purchasing an additional 11,316 shares in the last quarter. Jane Street Group LLC purchased a new stake in Neurogene in the third quarter valued at about $324,000. Wellington Management Group LLP acquired a new stake in Neurogene in the third quarter worth about $767,000. State Street Corp grew its stake in shares of Neurogene by 17.5% during the third quarter. State Street Corp now owns 246,540 shares of the company’s stock worth $10,345,000 after acquiring an additional 36,687 shares during the last quarter. Finally, RTW Investments LP increased its holdings in shares of Neurogene by 6.0% during the third quarter. RTW Investments LP now owns 1,135,256 shares of the company’s stock valued at $47,635,000 after acquiring an additional 64,691 shares in the last quarter. 52.37% of the stock is currently owned by institutional investors and hedge funds.

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.