Neurogene (NASDAQ:NGNE) Price Target Raised to $72.00

Neurogene (NASDAQ:NGNE) had its target price raised by Robert W. Baird from $54.00 to $72.00 in a report published on Tuesday,Benzinga reports. The firm currently has an outperform rating on the stock.

Separately, HC Wainwright cut their price objective on shares of Neurogene from $51.00 to $49.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $63.33.

Neurogene Price Performance

NGNE stock traded down $2.31 during midday trading on Tuesday, hitting $36.89. 144,574 shares of the company’s stock were exchanged, compared to its average volume of 139,768. The firm has a 50 day moving average price of $47.11 and a 200-day moving average price of $40.11. Neurogene has a 12-month low of $12.49 and a 12-month high of $74.49.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Quest Partners LLC acquired a new stake in Neurogene during the 2nd quarter worth $55,000. BNP Paribas Financial Markets boosted its holdings in Neurogene by 192.8% during the third quarter. BNP Paribas Financial Markets now owns 2,170 shares of the company’s stock worth $91,000 after purchasing an additional 1,429 shares during the last quarter. SG Americas Securities LLC bought a new position in Neurogene in the first quarter valued at approximately $120,000. MetLife Investment Management LLC acquired a new position in shares of Neurogene during the 3rd quarter worth about $254,000. Finally, Rhumbline Advisers acquired a new position in shares of Neurogene in the second quarter valued at $491,000. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Neurogene Company 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.