State Street Corp Acquires 36,687 Shares of Neurogene Inc. (NASDAQ:NGNE)

State Street Corp lifted its stake in shares of Neurogene Inc. (NASDAQ:NGNE) by 17.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 246,540 shares of the company’s stock after acquiring an additional 36,687 shares during the period. State Street Corp owned 1.90% of Neurogene worth $10,345,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp purchased a new stake in Neurogene during the second quarter valued at about $1,107,000. Rhumbline Advisers purchased a new stake in Neurogene in the 2nd quarter worth approximately $491,000. Quest Partners LLC purchased a new stake in Neurogene in the second quarter worth about $55,000. Avoro Capital Advisors LLC purchased a new position in Neurogene during the second quarter valued at $802,000. Finally, Integral Health Asset Management LLC purchased a new stake in shares of Neurogene during the second quarter valued at $2,547,000. 52.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NGNE has been the topic of a number of analyst reports. 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. Stifel Nicolaus raised their price objective on shares of Neurogene from $44.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Leerink Partners increased their price target on Neurogene from $45.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. HC Wainwright reissued a “buy” rating and issued a $55.00 price target on shares of Neurogene in a research report on Monday, November 25th. Finally, Robert W. Baird increased their price objective on Neurogene from $54.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Neurogene has a consensus rating of “Buy” and an average target price of $60.83.

Insider Buying and Selling at Neurogene

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

Neurogene Stock Up 6.5 %

Shares of NGNE stock opened at $24.10 on Friday. The stock has a 50 day simple moving average of $34.73 and a 200-day simple moving average of $37.79. Neurogene Inc. has a 1-year low of $14.44 and a 1-year high of $74.49.

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.