Samsara Biocapital Gp, Llc Buys 48,770 Shares of Neurogene Inc. (NASDAQ:NGNE) Stock

Neurogene Inc. (NASDAQ:NGNE) major shareholder Samsara Biocapital Gp, Llc acquired 48,770 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were purchased 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 directly owns 1,717,127 shares in the company, valued at $44,353,390.41. The trade was a 2.92 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Neurogene Price Performance

NGNE stock opened at $25.80 on Friday. The business’s 50-day moving average is $43.67 and its two-hundred day moving average is $39.31. Neurogene Inc. has a fifty-two week low of $12.49 and a fifty-two week high of $74.49.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NGNE. William Blair reiterated an “outperform” rating on shares of Neurogene in a research note on Tuesday, November 19th. BMO Capital Markets lowered their price objective on Neurogene from $60.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th. Leerink Partners lifted their target price on Neurogene from $45.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Stifel Nicolaus upped their price target on Neurogene from $44.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, Robert W. Baird lifted their price objective on Neurogene from $54.00 to $72.00 and gave the stock 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 company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $60.83.

Hedge Funds Weigh In On Neurogene

Several institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its position in Neurogene by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 30,317 shares of the company’s stock valued at $1,272,000 after buying an additional 741 shares during the period. BNP Paribas Financial Markets grew its position in shares of Neurogene by 192.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,170 shares of the company’s stock valued at $91,000 after acquiring an additional 1,429 shares during the period. Quest Partners LLC purchased a new stake in shares of Neurogene in the 2nd quarter worth $55,000. SG Americas Securities LLC purchased a new stake in shares of Neurogene in the 3rd quarter worth $150,000. Finally, MetLife Investment Management LLC bought a new position in Neurogene in the 3rd quarter worth $254,000. Institutional investors own 52.37% of the company’s stock.

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.