Neurogene (NASDAQ:NGNE) Price Target Cut to $60.00 by Analysts at BMO Capital Markets

Neurogene (NASDAQ:NGNE) had its target price decreased by BMO Capital Markets from $65.00 to $60.00 in a report issued on Tuesday morning,Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

Several other brokerages have also recently weighed in on NGNE. Leerink Partners increased their price objective on shares of Neurogene from $45.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday. HC Wainwright increased their price target on shares of Neurogene from $49.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Robert W. Baird raised their target price on Neurogene from $54.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Neurogene has an average rating of “Buy” and a consensus price target of $63.33.

Neurogene Trading Down 12.0 %

Neurogene stock opened at $34.52 on Tuesday. The stock has a fifty day moving average of $47.10 and a 200 day moving average of $40.12. Neurogene has a one year low of $12.49 and a one year high of $74.49.

Institutional Trading of Neurogene

Several institutional investors and hedge funds have recently modified their holdings of NGNE. RTW Investments LP increased its stake in Neurogene by 6.0% in the 3rd quarter. RTW Investments LP now owns 1,135,256 shares of the company’s stock worth $47,635,000 after buying an additional 64,691 shares in the last quarter. FMR LLC grew its position in shares of Neurogene by 912.4% during the third quarter. FMR LLC now owns 731,801 shares of the company’s stock worth $30,706,000 after purchasing an additional 659,515 shares in the last quarter. Vanguard Group Inc. raised its stake in Neurogene by 906.5% during the 1st 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 period. Baker BROS. Advisors LP lifted 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 purchasing an additional 2,499 shares in the last quarter. Finally, State Street Corp boosted its stake in Neurogene by 17.5% in the 3rd quarter. State Street Corp now owns 246,540 shares of the company’s stock worth $10,345,000 after purchasing an additional 36,687 shares during the period. 52.37% of the stock is currently 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.