HC Wainwright Forecasts Strong Price Appreciation for Neurogene (NASDAQ:NGNE) Stock

Neurogene (NASDAQ:NGNE) had its price target boosted by HC Wainwright from $49.00 to $55.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

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

Neurogene Stock Performance

NASDAQ:NGNE opened at $34.52 on Tuesday. The firm’s fifty day simple moving average is $47.11 and its 200 day simple moving average is $40.11. Neurogene has a twelve month low of $12.49 and a twelve month high of $74.49.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Driehaus Capital Management LLC raised its stake in 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 buying an additional 56,533 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Neurogene in the 2nd quarter valued at approximately $1,107,000. Vanguard Group Inc. raised its position in shares of 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 acquiring an additional 457,062 shares in the last quarter. Marshall Wace LLP lifted its stake in Neurogene by 37.2% during 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 during the last quarter. Finally, Integral Health Asset Management LLC acquired a new position in Neurogene in the second quarter worth $2,547,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

Neurogene Company Profile

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.