Neurogene (NASDAQ:NGNE) Given New $45.00 Price Target at BMO Capital Markets

Neurogene (NASDAQ:NGNE) had its price target reduced by BMO Capital Markets from $60.00 to $45.00 in a report published on Wednesday,Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

A number of other research firms also recently commented on NGNE. William Blair restated an “outperform” rating on shares of Neurogene in a research report on Tuesday. HC Wainwright reaffirmed a “buy” rating and set a $55.00 price objective on shares of Neurogene in a research report on Tuesday. Leerink Partners upped their target price on Neurogene from $45.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Robert W. Baird upped their price objective on Neurogene from $54.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Finally, Stifel Nicolaus upped their price objective on Neurogene from $44.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $60.83.

Neurogene Price Performance

Shares of NGNE opened at $15.33 on Wednesday. The stock’s 50 day moving average is $45.90 and its two-hundred day moving average is $39.79. Neurogene has a 12 month low of $12.49 and a 12 month high of $74.49.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NGNE. SG Americas Securities LLC acquired a new position in Neurogene in the first quarter valued at $120,000. Vanguard Group Inc. boosted its holdings in Neurogene by 906.5% in the first 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 last quarter. Baker BROS. Advisors LP boosted its holdings in Neurogene by 0.6% in the first quarter. Baker BROS. Advisors LP now owns 456,015 shares of the company’s stock valued at $23,211,000 after acquiring an additional 2,499 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Neurogene in the second quarter valued at $1,107,000. Finally, Rhumbline Advisers purchased a new position in Neurogene in the second quarter valued at about $491,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

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.