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

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

Neurogene Stock Down 4.0 %

Shares of Neurogene stock opened at $25.80 on Thursday. The business has a fifty day simple moving average of $43.99 and a 200 day simple moving average of $39.40. Neurogene Inc. has a 12 month low of $12.49 and a 12 month high of $74.49.

Analysts Set New Price Targets

Several research firms have weighed in on NGNE. BMO Capital Markets lowered their price objective on shares of Neurogene from $60.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. Stifel Nicolaus raised their price target on shares of Neurogene from $44.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Leerink Partners boosted their price objective on shares of Neurogene from $45.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Robert W. Baird increased their price objective 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 reaffirmed an “outperform” rating on shares of Neurogene in a research note on Tuesday, November 19th. Eight equities research 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.com, Neurogene presently 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 modified their holdings of NGNE. Vanguard Group Inc. raised its position in shares of Neurogene by 906.5% in the 1st quarter. Vanguard Group Inc. now owns 507,483 shares of the company’s stock valued at $25,831,000 after acquiring an additional 457,062 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Neurogene during the second quarter worth about $1,107,000. Rhumbline Advisers bought a new stake in Neurogene during the 2nd quarter worth approximately $491,000. Quest Partners LLC acquired a new stake in Neurogene during the 2nd quarter worth approximately $55,000. Finally, Avoro Capital Advisors LLC bought a new position in Neurogene in the second quarter valued at approximately $802,000. 52.37% of the stock is currently owned by institutional investors and hedge funds.

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.