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

Neurogene (NASDAQ:NGNE)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a report released on Monday,Benzinga reports. They currently have a $55.00 price objective on the stock. HC Wainwright’s price objective points to a potential upside of 104.69% from the stock’s previous close.

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

Neurogene Price Performance

Shares of Neurogene stock opened at $26.87 on Monday. The business’s 50 day simple moving average is $44.30 and its 200 day simple moving average is $39.50. Neurogene has a 52-week low of $12.49 and a 52-week high of $74.49.

Insider Buying and Selling at Neurogene

In other Neurogene news, CFO Christine Mikail Cvijic purchased 24,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 76,844 shares of the company’s stock, valued at $1,573,765.12. The trade was a 45.42 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Rachel Mcminn acquired 47,500 shares of Neurogene stock in a transaction on Friday, November 22nd. The shares were purchased at an average cost of $20.40 per share, with a total value of $969,000.00. Following the completion of the acquisition, the chief executive officer now owns 1,297,859 shares of the company’s stock, valued at $26,476,323.60. This trade represents a 3.80 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 9.92% of the company’s stock.

Hedge Funds Weigh In On Neurogene

Large investors have recently made changes to their positions in the stock. Driehaus Capital Management LLC boosted its holdings in shares of Neurogene by 123.8% in the second quarter. Driehaus Capital Management LLC now owns 102,187 shares of the company’s stock worth $3,719,000 after acquiring an additional 56,533 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Neurogene in the second quarter worth $1,107,000. Jennison Associates LLC purchased a new stake in shares of Neurogene in the third quarter worth $3,300,000. Vanguard Group Inc. raised its position in Neurogene by 906.5% during the first quarter. Vanguard Group Inc. now owns 507,483 shares of the company’s stock valued at $25,831,000 after purchasing an additional 457,062 shares in the last quarter. Finally, Marshall Wace LLP raised its position in Neurogene by 37.2% during the second quarter. Marshall Wace LLP now owns 41,447 shares of the company’s stock valued at $1,508,000 after purchasing an additional 11,229 shares in the last quarter. 52.37% of the stock is 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.