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

HC Wainwright reaffirmed their buy rating on shares of Neurogene (NASDAQ:NGNE) in a research report sent to investors on Monday,Benzinga reports. HC Wainwright currently has a $55.00 price target on the stock.

NGNE has been the topic of a number of other reports. Stifel Nicolaus increased their target price on Neurogene from $44.00 to $60.00 and gave the stock a “buy” 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 research report on Wednesday, November 20th. Leerink Partners increased their price target on Neurogene from $45.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Robert W. Baird increased their price target on Neurogene from $54.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Finally, William Blair reissued an “outperform” rating on shares of Neurogene in a research report on Tuesday, November 19th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $60.83.

Neurogene Trading Up 9.9 %

Shares of NGNE opened at $22.32 on Monday. Neurogene has a 12-month low of $12.49 and a 12-month high of $74.49. The business’s fifty day moving average is $44.56 and its 200 day moving average is $39.54.

Insider Activity

In other news, CFO Christine Mikail Cvijic acquired 24,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was bought at an average price of $20.48 per share, with a total value of $491,520.00. Following the acquisition, the chief financial officer now owns 76,844 shares in the company, valued at $1,573,765.12. The trade was a 45.42 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Rachel Mcminn acquired 47,500 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was purchased at an average cost of $20.40 per share, with a total value of $969,000.00. Following the acquisition, the chief executive officer now owns 1,297,859 shares in the company, valued at $26,476,323.60. The trade was a 3.80 % increase in their position. The disclosure for this purchase can be found here. Insiders own 9.92% of the company’s stock.

Institutional Investors Weigh In On Neurogene

Large investors have recently added to or reduced their stakes in the company. Quest Partners LLC purchased a new stake in Neurogene in the 2nd quarter worth about $55,000. BNP Paribas Financial Markets boosted its stake in Neurogene by 192.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,170 shares of the company’s stock worth $91,000 after purchasing an additional 1,429 shares during the period. SG Americas Securities LLC bought a new position in Neurogene in the 1st quarter worth about $120,000. MetLife Investment Management LLC bought a new position in Neurogene in the 3rd quarter worth about $254,000. Finally, Jane Street Group LLC bought a new position in Neurogene in the 3rd quarter worth about $324,000. Hedge funds and other institutional investors own 52.37% of the company’s stock.

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.