Neurogene Inc. (NASDAQ:NGNE) Receives $60.83 Consensus PT from Analysts

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

A number of research analysts have weighed in on NGNE shares. BMO Capital Markets decreased their target price 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. William Blair reissued an “outperform” rating on shares of Neurogene in a research note on Tuesday, November 19th. Leerink Partners raised their target price on Neurogene from $45.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Stifel Nicolaus boosted their price target on shares of Neurogene from $44.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, Robert W. Baird raised their price objective on shares of Neurogene from $54.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th.

Neurogene Price Performance

NASDAQ:NGNE opened at $19.58 on Monday. Neurogene has a twelve month low of $14.44 and a twelve month high of $74.49. The company’s 50-day moving average price is $29.08 and its 200-day moving average price is $36.85.

Insider Activity at Neurogene

In other Neurogene news, major shareholder Samsara Biocapital Gp, Llc purchased 48,770 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was bought at an average price of $25.83 per share, with a total value of $1,259,729.10. Following the transaction, the insider now directly owns 1,717,127 shares of the company’s stock, valued at approximately $44,353,390.41. This represents a 2.92 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Christine Mikail Cvijic purchased 24,000 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was acquired at an average price of $20.48 per share, with a total value of $491,520.00. Following the purchase, the chief financial officer now 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. In the last 90 days, insiders have bought 120,270 shares of company stock worth $2,720,249. 9.92% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Neurogene

A number of hedge funds have recently bought and sold shares of NGNE. Quest Partners LLC purchased a new stake in shares of Neurogene during the second quarter worth approximately $55,000. BNP Paribas Financial Markets increased its position in shares of 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 during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Neurogene in the 3rd quarter valued at $150,000. MetLife Investment Management LLC purchased a new stake in shares of Neurogene during the 3rd quarter worth $254,000. Finally, Franklin Resources Inc. acquired a new position in shares of Neurogene during the third quarter worth $296,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

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.