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

Neurogene Inc. (NASDAQ:NGNE) CEO Rachel Mcminn acquired 47,500 shares of the 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 transaction, the chief executive officer now directly owns 1,297,859 shares of the company’s stock, valued at approximately $26,476,323.60. This trade represents a 3.80 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Neurogene Price Performance

Neurogene stock opened at $26.87 on Wednesday. Neurogene Inc. has a 12 month low of $12.49 and a 12 month high of $74.49. The stock has a fifty day simple moving average of $44.30 and a two-hundred day simple moving average of $39.50.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Stifel Nicolaus lifted their price target on shares of Neurogene from $44.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. BMO Capital Markets dropped their price target on Neurogene from $60.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th. HC Wainwright reaffirmed a “buy” rating and set a $55.00 price objective on shares of Neurogene in a research report on Monday. Robert W. Baird lifted their price objective on Neurogene from $54.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Finally, Leerink Partners raised their price target on Neurogene from $45.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Neurogene presently has a consensus rating of “Buy” and a consensus price target of $60.83.

Institutional Investors Weigh In On Neurogene

Several institutional investors have recently modified their holdings of NGNE. SG Americas Securities LLC bought a new position in Neurogene during the 1st quarter valued at about $120,000. Vanguard Group Inc. raised its holdings in shares of 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 during the last quarter. Bank of New York Mellon Corp bought a new position in Neurogene during the second quarter valued at approximately $1,107,000. Rhumbline Advisers purchased a new stake in Neurogene in the second quarter worth approximately $491,000. Finally, Quest Partners LLC bought a new stake in Neurogene in the 2nd quarter worth approximately $55,000. 52.37% of the stock is owned by hedge funds and other institutional investors.

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.