Rachel Mcminn Acquires 47,500 Shares of Neurogene Inc. (NASDAQ:NGNE) Stock

Neurogene Inc. (NASDAQ:NGNE) CEO Rachel Mcminn bought 47,500 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were bought at an average price of $20.40 per share, with a total value of $969,000.00. Following the completion of the purchase, the chief executive officer now owns 1,297,859 shares in the company, valued at approximately $26,476,323.60. The trade was a 3.80 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Neurogene Price Performance

Shares of NGNE opened at $22.32 on Tuesday. The stock has a 50 day simple moving average of $44.56 and a 200-day simple moving average of $39.54. Neurogene Inc. has a 1 year low of $12.49 and a 1 year high of $74.49.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its holdings in shares of Neurogene by 2.5% in 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. BNP Paribas Financial Markets grew 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 during the last quarter. Quest Partners LLC acquired a new stake in shares of Neurogene during the second quarter worth approximately $55,000. SG Americas Securities LLC bought a new position in shares of Neurogene in the first quarter valued at approximately $120,000. Finally, MetLife Investment Management LLC bought a new stake in Neurogene during the 3rd quarter worth approximately $254,000. 52.37% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NGNE. HC Wainwright restated a “buy” rating and set a $55.00 price objective on shares of Neurogene in a report on Monday. Robert W. Baird boosted their price target on Neurogene from $54.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Stifel Nicolaus raised their price objective on Neurogene from $44.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. 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, William Blair restated an “outperform” rating on shares of Neurogene in a research note on Tuesday, November 19th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Neurogene presently has an average rating of “Buy” and a consensus target price 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.