BNP Paribas Financial Markets Purchases 1,429 Shares of Neurogene Inc. (NASDAQ:NGNE)

BNP Paribas Financial Markets lifted its position in Neurogene Inc. (NASDAQ:NGNE) by 192.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,170 shares of the company’s stock after purchasing an additional 1,429 shares during the quarter. BNP Paribas Financial Markets’ holdings in Neurogene were worth $91,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

NGNE has been the topic of a number of analyst reports. William Blair reiterated an “outperform” rating on shares of Neurogene in a research report on Tuesday, November 19th. Stifel Nicolaus lifted their price objective on Neurogene from $44.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Leerink Partners boosted their target price on Neurogene from $45.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Robert W. Baird raised their price target on Neurogene from $54.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Finally, BMO Capital Markets lowered their price objective on Neurogene from $60.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $60.83.

Insider Transactions at Neurogene

In related news, CFO Christine Mikail Cvijic purchased 24,000 shares of Neurogene stock in a transaction that occurred on Friday, November 22nd. The shares were bought at an average price of $20.48 per share, for a total transaction of $491,520.00. Following the completion of the transaction, the chief financial officer now directly owns 76,844 shares of the company’s stock, valued at $1,573,765.12. This represents a 45.42 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Samsara Biocapital Gp, Llc acquired 48,770 shares of the stock in a transaction on Tuesday, November 26th. The stock was bought at an average price of $25.83 per share, with a total value of $1,259,729.10. Following the completion of the acquisition, the insider now directly 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 disclosure for this purchase can be found here. In the last three months, insiders have acquired 120,270 shares of company stock worth $2,720,249. 9.92% of the stock is currently owned by insiders.

Neurogene Stock Performance

Shares of NASDAQ:NGNE opened at $21.79 on Thursday. The stock’s 50-day moving average is $38.07 and its 200 day moving average is $38.41. Neurogene Inc. has a 1 year low of $12.49 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.