Insider Selling: Neurogene Inc. (NASDAQ:NGNE) CFO Sells 4,501 Shares of Stock

Neurogene Inc. (NASDAQ:NGNE) CFO Christine Mikail Cvijic sold 4,501 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $16.94, for a total value of $76,246.94. Following the completion of the sale, the chief financial officer now directly owns 72,343 shares in the company, valued at $1,225,490.42. This trade represents a 5.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Neurogene Trading Down 2.7 %

NASDAQ NGNE opened at $15.42 on Thursday. The business’s 50-day moving average price is $17.42 and its 200 day moving average price is $29.76. Neurogene Inc. has a twelve month low of $14.42 and a twelve month high of $74.49.

Analyst Upgrades and Downgrades

Several analysts have weighed in on NGNE shares. HC Wainwright reissued a “buy” rating and issued a $55.00 target price on shares of Neurogene in a report on Monday, November 25th. BMO Capital Markets decreased their price objective on Neurogene from $60.00 to $45.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 20th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Neurogene currently has an average rating of “Buy” and an average price target of $60.83.

Hedge Funds Weigh In On Neurogene

Large investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. purchased a new position in Neurogene during the fourth quarter worth about $71,000. China Universal Asset Management Co. Ltd. purchased a new position in Neurogene during the fourth quarter worth about $72,000. Virtus ETF Advisers LLC raised its holdings in shares of Neurogene by 45.1% in the 4th quarter. Virtus ETF Advisers LLC now owns 3,183 shares of the company’s stock worth $73,000 after purchasing an additional 989 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of 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. Finally, Wells Fargo & Company MN raised its holdings in shares of Neurogene by 34.5% in the 4th quarter. Wells Fargo & Company MN now owns 5,444 shares of the company’s stock worth $124,000 after purchasing an additional 1,397 shares during the period. 52.37% of the stock is currently 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.