Neurogene (NASDAQ:NGNE) Price Target Raised to $55.00

Neurogene (NASDAQ:NGNE) had its target price raised by HC Wainwright from $49.00 to $55.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Separately, Robert W. Baird raised their price target on shares of Neurogene from $54.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $63.33.

Neurogene Stock Down 5.9 %

NGNE stock traded down $2.31 on Tuesday, reaching $36.89. 144,574 shares of the company traded hands, compared to its average volume of 139,768. Neurogene has a one year low of $12.49 and a one year high of $74.49. The firm has a fifty day simple moving average of $47.11 and a 200-day simple moving average of $40.11.

Institutional Investors Weigh In On Neurogene

Institutional investors have recently made changes to their positions in the company. Driehaus Capital Management LLC boosted its stake in shares of Neurogene by 123.8% during the second quarter. Driehaus Capital Management LLC now owns 102,187 shares of the company’s stock valued at $3,719,000 after purchasing an additional 56,533 shares during the period. Bank of New York Mellon Corp purchased a new stake in Neurogene in the 2nd quarter valued at about $1,107,000. Vanguard Group Inc. boosted its position in Neurogene by 906.5% in the 1st quarter. Vanguard Group Inc. now owns 507,483 shares of the company’s stock valued at $25,831,000 after buying an additional 457,062 shares during the period. Marshall Wace LLP grew its stake in Neurogene by 37.2% in the 2nd quarter. Marshall Wace LLP now owns 41,447 shares of the company’s stock worth $1,508,000 after acquiring an additional 11,229 shares in the last quarter. Finally, Integral Health Asset Management LLC purchased a new position in shares of Neurogene during the second quarter worth approximately $2,547,000. 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.