Neurogene (NASDAQ:NGNE) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Neurogene (NASDAQ:NGNE) had its price target lifted by Stifel Nicolaus from $44.00 to $60.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 57.73% from the company’s current price.

NGNE has been the subject of several other reports. BMO Capital Markets decreased their target price on shares of Neurogene from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Tuesday. HC Wainwright boosted their price objective on Neurogene from $49.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday. Leerink Partners boosted their price objective on Neurogene from $45.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Robert W. Baird raised their price objective on shares of Neurogene from $54.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday. Eight investment 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.com, the stock has a consensus rating of “Buy” and an average target price of $63.33.

Neurogene Trading Down 46.8 %

Shares of Neurogene stock traded down $33.49 during trading hours on Tuesday, hitting $38.04. The company had a trading volume of 1,146,714 shares, compared to its average volume of 131,684. Neurogene has a twelve month low of $12.49 and a twelve month high of $74.49. The company’s 50-day moving average is $46.77 and its two-hundred day moving average is $40.05.

Neurogene (NASDAQ:NGNE) last issued its quarterly earnings data on Friday, August 9th. The company reported ($1.09) EPS for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.07). The company had revenue of $0.93 million for the quarter. On average, equities analysts forecast that Neurogene will post -4.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Neurogene by 906.5% in the 1st quarter. Vanguard Group Inc. now owns 507,483 shares of the company’s stock worth $25,831,000 after acquiring an additional 457,062 shares during the last quarter. Baker BROS. Advisors LP increased its stake in shares of Neurogene by 0.6% in the first 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 during the period. Driehaus Capital Management LLC raised its position in Neurogene by 123.8% during the second quarter. Driehaus Capital Management LLC now owns 102,187 shares of the company’s stock worth $3,719,000 after acquiring an additional 56,533 shares during the period. Jennison Associates LLC purchased a new position in shares of Neurogene during the 3rd quarter worth $3,300,000. Finally, Integral Health Asset Management LLC purchased a new stake in shares of Neurogene in the 2nd quarter valued at $2,547,000. Hedge funds and other institutional investors 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.