Neurogene (NASDAQ:NGNE) Price Target Raised to $60.00

Neurogene (NASDAQ:NGNE) had its price objective upped by Stifel Nicolaus from $44.00 to $60.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

NGNE has been the topic of a number of other research reports. Leerink Partners lifted their price target on shares of Neurogene from $45.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday. BMO Capital Markets reduced their price objective on Neurogene from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Tuesday. Robert W. Baird lifted their target price on shares of Neurogene from $54.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, HC Wainwright boosted their price target on Neurogene from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $63.33.

Neurogene Stock Down 5.9 %

Shares of Neurogene stock traded down $2.31 during trading on Tuesday, hitting $36.89. 144,574 shares of the stock traded hands, compared to its average volume of 139,768. The company has a fifty day moving average price of $47.11 and a two-hundred day moving average price of $40.11. Neurogene has a twelve month low of $12.49 and a twelve month high of $74.49.

Institutional Trading of Neurogene

Large investors have recently bought and sold shares of the business. Driehaus Capital Management LLC boosted its stake in Neurogene by 123.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 102,187 shares of the company’s stock worth $3,719,000 after purchasing an additional 56,533 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Neurogene during the 2nd quarter worth approximately $1,107,000. Vanguard Group Inc. raised its holdings in shares of 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 purchasing an additional 457,062 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Neurogene by 37.2% in the second 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 in the last quarter. Finally, Integral Health Asset Management LLC acquired a new stake in Neurogene in the 2nd quarter valued at $2,547,000. 52.37% of the stock is owned by institutional investors.

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.