Insider Selling: Neurogene Inc. (NASDAQ:NGNE) CFO Sells 4,501 Shares of Stock

Neurogene Inc. (NASDAQ:NGNE) CFO Christine Mikail Cvijic sold 4,501 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $16.94, for a total transaction of $76,246.94. Following the completion of the sale, the chief financial officer now owns 72,343 shares in the company, valued at $1,225,490.42. This represents a 5.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Neurogene Trading Up 1.0 %

NASDAQ:NGNE traded up $0.17 on Monday, hitting $16.87. The stock had a trading volume of 159,451 shares, compared to its average volume of 207,908. The firm’s fifty day simple moving average is $17.78 and its two-hundred day simple moving average is $30.15. Neurogene Inc. has a 1 year low of $14.42 and a 1 year high of $74.49.

Institutional Investors Weigh In On Neurogene

Several large investors have recently modified their holdings of NGNE. Jennison Associates LLC purchased a new stake in shares of Neurogene during the 3rd quarter worth approximately $3,300,000. Charles Schwab Investment Management Inc. increased its stake in shares of Neurogene by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 30,317 shares of the company’s stock worth $1,272,000 after purchasing an additional 741 shares during the last quarter. FMR LLC increased its stake in shares of Neurogene by 912.4% during the 3rd quarter. FMR LLC now owns 731,801 shares of the company’s stock worth $30,706,000 after purchasing an additional 659,515 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of 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 purchasing an additional 1,429 shares during the last quarter. Finally, MetLife Investment Management LLC purchased a new stake in shares of Neurogene during the 3rd quarter worth approximately $254,000. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on NGNE shares. HC Wainwright restated a “buy” rating and issued a $55.00 target price on shares of Neurogene in a report on Monday, November 25th. 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 report on Wednesday, November 20th. Finally, William Blair reiterated an “outperform” rating on shares of Neurogene in a research note on Tuesday, November 19th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $60.83.

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.