Fmr LLC Grows Stock Holdings in Neurogene Inc. (NASDAQ:NGNE)

Fmr LLC boosted its stake in Neurogene Inc. (NASDAQ:NGNE) by 912.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 731,801 shares of the company’s stock after buying an additional 659,515 shares during the period. Fmr LLC owned approximately 5.63% of Neurogene worth $30,706,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of NGNE. Vanguard Group Inc. increased its stake in Neurogene by 906.5% in the first quarter. Vanguard Group Inc. now owns 507,483 shares of the company’s stock valued at $25,831,000 after purchasing an additional 457,062 shares during the period. Driehaus Capital Management LLC raised its holdings in shares of Neurogene by 123.8% in the second quarter. Driehaus Capital Management LLC now owns 102,187 shares of the company’s stock worth $3,719,000 after acquiring an additional 56,533 shares during the last quarter. Jennison Associates LLC purchased a new stake in shares of Neurogene during the third quarter worth about $3,300,000. Integral Health Asset Management LLC acquired a new stake in shares of Neurogene during the second quarter worth $2,547,000. Finally, Marshall Wace LLP lifted its holdings in shares of Neurogene by 37.2% during the 2nd quarter. Marshall Wace LLP now owns 41,447 shares of the company’s stock worth $1,508,000 after acquiring an additional 11,229 shares during the period. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Neurogene

In other Neurogene news, CEO Rachel Mcminn acquired 47,500 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was bought at an average cost of $20.40 per share, with a total value of $969,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,297,859 shares in the company, valued at approximately $26,476,323.60. This represents a 3.80 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Samsara Biocapital Gp, Llc acquired 48,770 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were bought at an average price of $25.83 per share, with a total value of $1,259,729.10. Following the completion of the transaction, the insider now directly owns 1,717,127 shares of the company’s stock, valued at approximately $44,353,390.41. The trade was a 2.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 120,270 shares of company stock valued at $2,720,249. 9.92% of the stock is currently owned by company insiders.

Neurogene Stock Up 7.9 %

Shares of NASDAQ NGNE opened at $23.72 on Monday. The company has a 50-day moving average of $41.61 and a two-hundred day moving average of $39.01. Neurogene Inc. has a 1-year low of $12.49 and a 1-year high of $74.49.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Leerink Partners increased 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. William Blair reissued an “outperform” rating on shares of Neurogene in a research report on Tuesday, November 19th. Stifel Nicolaus increased their price target on Neurogene from $44.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. HC Wainwright restated a “buy” rating and issued a $55.00 price target on shares of Neurogene in a research note on Monday, November 25th. Finally, BMO Capital Markets dropped their price target on shares of Neurogene from $60.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $60.83.

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.