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

Neurogene Inc. (NASDAQ:NGNE) has earned a consensus rating of “Buy” from the eight research firms that are currently covering the firm, Marketbeat reports. Seven analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $60.83.

Several equities research analysts have weighed in on NGNE shares. William Blair reaffirmed an “outperform” rating on shares of Neurogene in a research report on Tuesday, November 19th. Robert W. Baird raised their target price on Neurogene from $54.00 to $72.00 and gave the stock an “outperform” rating in a 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, November 25th. BMO Capital Markets lowered their price objective on Neurogene from $60.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th. Finally, Leerink Partners lifted their target price on shares of Neurogene from $45.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th.

Insider Transactions at Neurogene

In other news, CFO Christine Mikail Cvijic acquired 24,000 shares of the business’s stock in a transaction 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 purchase, the chief financial officer now owns 76,844 shares in the company, valued at approximately $1,573,765.12. This represents a 45.42 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Rachel Mcminn bought 47,500 shares of Neurogene stock in a transaction on Friday, November 22nd. The shares were purchased at an average cost of $20.40 per share, with a total value of $969,000.00. Following the acquisition, the chief executive officer now directly owns 1,297,859 shares of the company’s stock, valued at approximately $26,476,323.60. The trade was a 3.80 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 120,270 shares of company stock valued at $2,720,249 in the last three months. 9.92% of the stock is currently owned by company insiders.

Institutional Trading of Neurogene

A number of institutional investors have recently made changes to their positions in NGNE. BNP Paribas Financial Markets lifted its holdings in Neurogene by 192.8% in the 3rd 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 in the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Neurogene in the fourth quarter valued at about $72,000. SG Americas Securities LLC purchased a new position in shares of Neurogene in the third quarter worth about $150,000. MetLife Investment Management LLC acquired a new position in Neurogene during the third quarter worth about $254,000. Finally, Franklin Resources Inc. purchased a new stake in Neurogene during the 3rd quarter valued at about $296,000. 52.37% of the stock is owned by institutional investors and hedge funds.

Neurogene Stock Up 8.2 %

Neurogene stock opened at $23.30 on Friday. The stock has a 50-day moving average price of $20.74 and a 200 day moving average price of $34.00. 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.