Jennison Associates LLC Takes Position in Neurogene Inc. (NASDAQ:NGNE)

Jennison Associates LLC purchased a new position in Neurogene Inc. (NASDAQ:NGNE) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 78,650 shares of the company’s stock, valued at approximately $3,300,000. Jennison Associates LLC owned 0.61% of Neurogene at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. SG Americas Securities LLC purchased a new stake in shares of Neurogene in the first quarter valued at approximately $120,000. Vanguard Group Inc. grew its stake in Neurogene by 906.5% in the 1st quarter. Vanguard Group Inc. now owns 507,483 shares of the company’s stock valued at $25,831,000 after acquiring an additional 457,062 shares during the period. Baker BROS. Advisors LP increased its holdings in Neurogene by 0.6% in the 1st quarter. Baker BROS. Advisors LP now owns 456,015 shares of the company’s stock worth $23,211,000 after acquiring an additional 2,499 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Neurogene during the second quarter worth $1,107,000. Finally, Rhumbline Advisers purchased a new position in Neurogene during the second quarter valued at $491,000. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Neurogene Price Performance

Shares of NASDAQ:NGNE opened at $20.30 on Friday. Neurogene Inc. has a 12-month low of $12.49 and a 12-month high of $74.49. The business has a 50-day moving average price of $44.97 and a 200 day moving average price of $39.53.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on NGNE shares. 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 research note on Tuesday, November 12th. HC Wainwright restated a “buy” rating and issued a $55.00 price target on shares of Neurogene in a research report on Tuesday. Leerink Partners upped their price target on Neurogene from $45.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. William Blair reissued an “outperform” rating on shares of Neurogene in a research note on Tuesday. Finally, 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 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 data from 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.