Jane Street Group LLC Makes New Investment in Neurogene Inc. (NASDAQ:NGNE)

Jane Street Group LLC purchased a new stake in shares of Neurogene Inc. (NASDAQ:NGNE) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 7,717 shares of the company’s stock, valued at approximately $324,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of NGNE. Wellington Management Group LLP bought a new stake in Neurogene during the 3rd quarter worth approximately $767,000. State Street Corp boosted its holdings in Neurogene by 17.5% in the 3rd quarter. State Street Corp now owns 246,540 shares of the company’s stock valued at $10,345,000 after purchasing an additional 36,687 shares during the period. RTW Investments LP grew its position in shares of Neurogene by 6.0% during the 3rd quarter. RTW Investments LP now owns 1,135,256 shares of the company’s stock valued at $47,635,000 after purchasing an additional 64,691 shares in the last quarter. MetLife Investment Management LLC bought a new position in shares of Neurogene in the third quarter worth $254,000. Finally, BNP Paribas Financial Markets raised its position in shares of Neurogene by 192.8% in 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. 52.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NGNE has been the subject of several recent analyst reports. HC Wainwright restated a “buy” rating and set a $55.00 target price on shares of Neurogene in a research report on Monday, November 25th. Stifel Nicolaus upped their price objective on shares of Neurogene from $44.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. William Blair reaffirmed an “outperform” rating on shares of Neurogene in a research note on Tuesday, November 19th. Robert W. Baird boosted 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. 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 report on Wednesday, November 20th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $60.83.

Neurogene Trading Down 1.7 %

NASDAQ:NGNE opened at $21.49 on Friday. The company has a fifty day moving average of $29.61 and a 200 day moving average of $36.86. Neurogene Inc. has a 52 week low of $14.44 and a 52 week high of $74.49.

Insider Buying and Selling at Neurogene

In related news, CEO Rachel Mcminn purchased 47,500 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were acquired at an average price of $20.40 per share, for a total transaction of $969,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,297,859 shares in the company, valued at approximately $26,476,323.60. The trade was a 3.80 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Samsara Biocapital Gp, Llc acquired 48,770 shares of Neurogene stock in a transaction on Tuesday, November 26th. The shares were bought at an average cost of $25.83 per share, for a total transaction of $1,259,729.10. Following the completion of the transaction, the insider now owns 1,717,127 shares in the company, valued at approximately $44,353,390.41. This trade represents a 2.92 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 120,270 shares of company stock worth $2,720,249. 9.92% of the stock is currently owned by company insiders.

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.