7,050 Shares in Neurogene Inc. (NASDAQ:NGNE) Purchased by Franklin Resources Inc.

Franklin Resources Inc. purchased a new position in Neurogene Inc. (NASDAQ:NGNE) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 7,050 shares of the company’s stock, valued at approximately $296,000.

A number of other large investors also recently added to or reduced their stakes in the business. RTW Investments LP boosted its position in shares of Neurogene by 6.0% during the third quarter. RTW Investments LP now owns 1,135,256 shares of the company’s stock worth $47,635,000 after acquiring an additional 64,691 shares during the last quarter. FMR LLC lifted its stake in Neurogene by 912.4% in the 3rd quarter. FMR LLC now owns 731,801 shares of the company’s stock worth $30,706,000 after purchasing an additional 659,515 shares in the last quarter. State Street Corp lifted its stake in Neurogene by 17.5% in the 3rd quarter. State Street Corp now owns 246,540 shares of the company’s stock worth $10,345,000 after purchasing an additional 36,687 shares in the last quarter. Driehaus Capital Management LLC boosted its holdings in shares of Neurogene by 123.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 102,187 shares of the company’s stock valued at $3,719,000 after purchasing an additional 56,533 shares during the last quarter. Finally, Jennison Associates LLC purchased a new position in shares of Neurogene during the third quarter valued at about $3,300,000. 52.37% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Neurogene news, major shareholder Samsara Biocapital Gp, Llc acquired 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 in the company, valued at $44,353,390.41. This trade represents a 2.92 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Rachel Mcminn acquired 47,500 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were bought at an average cost of $20.40 per share, for a total transaction of $969,000.00. Following the transaction, the chief executive officer now directly owns 1,297,859 shares of the company’s stock, valued at approximately $26,476,323.60. This trade represents a 3.80 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 120,270 shares of company stock valued at $2,720,249 over the last ninety days. Company insiders own 9.92% of the company’s stock.

Neurogene Trading Up 2.6 %

Shares of NGNE opened at $22.86 on Thursday. The stock has a 50 day moving average price of $32.43 and a 200 day moving average price of $37.32. Neurogene Inc. has a one year low of $14.44 and a one year high of $74.49.

Analysts Set New Price Targets

A number of analysts have issued reports on NGNE shares. William Blair reaffirmed an “outperform” rating on shares of Neurogene in a research note on Tuesday, November 19th. Leerink Partners upped their price target on shares of Neurogene from $45.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Stifel Nicolaus increased their price objective on shares of Neurogene from $44.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Robert W. Baird boosted 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. Finally, BMO Capital Markets lowered their price target on shares of Neurogene from $60.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, November 20th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $60.83.

Neurogene 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.