Jennison Associates LLC Buys Shares of 78,650 Neurogene Inc. (NASDAQ:NGNE)

Jennison Associates LLC acquired a new position in shares of Neurogene Inc. (NASDAQ:NGNE) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 78,650 shares of the company’s stock, valued at approximately $3,300,000.

A number of other hedge funds also recently bought and sold shares of the stock. Quest Partners LLC purchased a new stake in shares of Neurogene during the second quarter worth approximately $55,000. SG Americas Securities LLC purchased a new stake in shares of Neurogene in the 1st quarter valued at approximately $120,000. Baker BROS. Advisors LP raised its holdings in shares of Neurogene by 0.6% in the 1st quarter. Baker BROS. Advisors LP now owns 456,015 shares of the company’s stock valued at $23,211,000 after purchasing an additional 2,499 shares in the last quarter. Marshall Wace LLP lifted its position 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 purchasing an additional 11,229 shares during the last quarter. Finally, Rhumbline Advisers purchased a new position in Neurogene in the second quarter valued at $491,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

Neurogene Trading Up 30.2 %

NGNE stock opened at $20.30 on Friday. The company has a fifty day moving average price of $44.97 and a 200 day moving average price of $39.53. Neurogene Inc. has a 12 month low of $12.49 and a 12 month high of $74.49.

Analysts Set New Price Targets

NGNE has been the subject of several analyst reports. 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. 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 report on Tuesday, November 12th. Leerink Partners upped their target price on shares of Neurogene from $45.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. William Blair reaffirmed an “outperform” rating on shares of Neurogene in a research report on Tuesday. Finally, Robert W. Baird boosted their price target on shares of Neurogene from $54.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Neurogene presently has a consensus rating of “Buy” and an average 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.