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

Neurogene Inc. (NASDAQ:NGNE) major shareholder Samsara Biocapital Gp, Llc purchased 48,770 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was purchased at an average price of $25.83 per share, for a total transaction of $1,259,729.10. Following the purchase, the insider now owns 1,717,127 shares in the company, valued at $44,353,390.41. This represents a 2.92 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Neurogene Stock Down 4.0 %

Neurogene stock traded down $1.07 during mid-day trading on Wednesday, reaching $25.80. 527,814 shares of the stock traded hands, compared to its average volume of 173,875. Neurogene Inc. has a 12-month low of $12.49 and a 12-month high of $74.49. The business’s 50-day moving average is $44.30 and its 200-day moving average is $39.50.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NGNE. Robert W. Baird lifted their target price on shares of Neurogene from $54.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Stifel Nicolaus boosted their price objective on shares of Neurogene from $44.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. William Blair reiterated an “outperform” rating on shares of Neurogene in a research note on Tuesday, November 19th. HC Wainwright restated a “buy” rating and issued a $55.00 price target on shares of Neurogene in a research note on Monday. Finally, BMO Capital Markets dropped 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. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $60.83.

Institutional Investors Weigh In On Neurogene

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quest Partners LLC purchased a new stake in Neurogene in the 2nd quarter worth approximately $55,000. BNP Paribas Financial Markets raised 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 purchasing an additional 1,429 shares during the period. SG Americas Securities LLC purchased a new position in shares of Neurogene during the 3rd quarter valued at $150,000. MetLife Investment Management LLC bought a new position in Neurogene in the 3rd quarter worth $254,000. Finally, Franklin Resources Inc. purchased a new stake in Neurogene in the 3rd quarter worth $296,000. 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.