Neurogene’s (NGNE) Buy Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Neurogene (NASDAQ:NGNE) in a research note released on Monday,Benzinga reports. The brokerage currently has a $55.00 price objective on the stock.

Several other brokerages have also recently commented on NGNE. Stifel Nicolaus boosted their price target on Neurogene from $44.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Robert W. Baird increased their price target on shares of Neurogene from $54.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Leerink Partners lifted 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. BMO Capital Markets lowered their target price on shares of Neurogene from $60.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th. Finally, William Blair reaffirmed an “outperform” rating on shares of Neurogene in a research report on Tuesday, November 19th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $60.83.

Neurogene Stock Performance

Shares of NASDAQ NGNE opened at $25.80 on Monday. Neurogene has a one year low of $12.49 and a one year high of $74.49. The business’s 50-day moving average price is $43.99 and its two-hundred day moving average price is $39.40.

Insider Buying and Selling

In related news, major shareholder Samsara Biocapital Gp, Llc bought 48,770 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were acquired at an average price of $25.83 per share, with a total value of $1,259,729.10. Following the completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Christine Mikail Cvijic purchased 24,000 shares of Neurogene stock in a transaction on Friday, November 22nd. The stock was bought at an average cost of $20.48 per share, with a total value of $491,520.00. Following the completion of the acquisition, the chief financial officer now owns 76,844 shares in the company, valued at approximately $1,573,765.12. This trade 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 acquired 120,270 shares of company stock valued at $2,720,249. Insiders own 9.92% of the company’s stock.

Hedge Funds Weigh In On Neurogene

Several institutional investors and hedge funds have recently added to or reduced their stakes in NGNE. Quest Partners LLC bought a new stake in shares of Neurogene in the 2nd quarter worth approximately $55,000. BNP Paribas Financial Markets boosted its stake in Neurogene by 192.8% during the third 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 in the last quarter. SG Americas Securities LLC bought a new stake in Neurogene in the 1st quarter valued at $120,000. MetLife Investment Management LLC acquired a new position in shares of Neurogene in the 3rd quarter valued at $254,000. Finally, Franklin Resources Inc. bought a new position in shares of Neurogene during the 3rd quarter worth about $296,000. 52.37% of the stock is currently owned by institutional investors.

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.