BMO Capital Markets Cuts Neurogene (NASDAQ:NGNE) Price Target to $60.00

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

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

Neurogene Trading Down 44.1 %

Shares of NASDAQ NGNE opened at $40.00 on Tuesday. Neurogene has a 52-week low of $12.49 and a 52-week high of $74.49. The stock has a 50 day moving average price of $46.77 and a 200 day moving average price of $40.05.

Hedge Funds Weigh In On Neurogene

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of 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 purchasing an additional 457,062 shares in the last quarter. Baker BROS. Advisors LP raised its stake 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 buying an additional 2,499 shares during the last quarter. Driehaus Capital Management LLC boosted its holdings in Neurogene by 123.8% in 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 in the last quarter. Jennison Associates LLC purchased a new stake in shares of Neurogene during the third quarter worth about $3,300,000. Finally, Integral Health Asset Management LLC acquired a new position in shares of Neurogene during the second quarter valued at about $2,547,000. 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.