Neurogene Inc. (NASDAQ:NGNE) Major Shareholder Acquires $1,259,729.10 in Stock

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

Neurogene Stock Performance

NASDAQ NGNE opened at $25.80 on Thursday. Neurogene Inc. has a 52-week low of $12.49 and a 52-week high of $74.49. The firm has a 50-day moving average of $43.99 and a 200-day moving average of $39.40.

Institutional Investors Weigh In On Neurogene

Institutional investors have recently made changes to their positions in the company. Quest Partners LLC acquired a new stake in Neurogene during the 2nd quarter worth approximately $55,000. BNP Paribas Financial Markets increased its position in Neurogene by 192.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,170 shares of the company’s stock worth $91,000 after buying an additional 1,429 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Neurogene during the third quarter worth $150,000. MetLife Investment Management LLC bought a new stake in shares of Neurogene in the third quarter valued at about $254,000. Finally, Franklin Resources Inc. acquired a new position in shares of Neurogene in the third quarter valued at about $296,000. Institutional investors own 52.37% of the company’s stock.

Wall Street Analysts Forecast Growth

NGNE has been the subject of several analyst reports. William Blair restated an “outperform” rating on shares of Neurogene in a report on Tuesday, November 19th. Robert W. Baird upped their price objective on Neurogene from $54.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Leerink Partners boosted their target price on shares of Neurogene from $45.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. HC Wainwright reiterated a “buy” rating and issued a $55.00 price target on shares of Neurogene in a research note on Monday. Finally, BMO Capital Markets lowered their price objective on shares of Neurogene from $60.00 to $45.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 20th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company 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.