HC Wainwright Reaffirms Buy Rating for Neurogene (NASDAQ:NGNE)

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

A number of other equities analysts also recently weighed in on NGNE. William Blair reissued an “outperform” rating on shares of Neurogene in a research note on Tuesday, November 19th. Stifel Nicolaus lifted 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 cut their target price on Neurogene from $60.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th. Robert W. Baird lifted their target price on Neurogene from $54.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Finally, Leerink Partners boosted their price target on Neurogene from $45.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Neurogene has an average rating of “Buy” and a consensus price target of $60.83.

Neurogene Stock Performance

Neurogene stock opened at $25.80 on Monday. Neurogene has a 52-week low of $12.49 and a 52-week high of $74.49. The firm has a 50 day moving average price of $43.67 and a two-hundred day moving average price of $39.31.

Insiders Place Their Bets

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

Institutional Trading of Neurogene

Several institutional investors and hedge funds have recently modified their holdings of NGNE. FMR LLC grew its holdings in Neurogene by 912.4% during the third quarter. FMR LLC now owns 731,801 shares of the company’s stock worth $30,706,000 after buying an additional 659,515 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Neurogene by 906.5% during the 1st quarter. Vanguard Group Inc. now owns 507,483 shares of the company’s stock worth $25,831,000 after acquiring an additional 457,062 shares during the last quarter. Jennison Associates LLC bought a new stake in shares of Neurogene in the 3rd quarter worth $3,300,000. Integral Health Asset Management LLC purchased a new stake in shares of Neurogene in the second quarter valued at about $2,547,000. Finally, RTW Investments LP lifted its position in shares of Neurogene by 6.0% during the third 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. 52.37% of the stock is owned by hedge funds and other 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.