Leerink Partners Forecasts Strong Price Appreciation for Neurogene (NASDAQ:NGNE) Stock

Neurogene (NASDAQ:NGNE) had its target price upped by Leerink Partners from $45.00 to $72.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also weighed in on the stock. HC Wainwright boosted their target price on shares of Neurogene from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday. Robert W. Baird raised 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 equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $63.33.

Neurogene Stock Down 12.0 %

Shares of NGNE opened at $34.52 on Tuesday. The business has a 50-day simple moving average of $47.11 and a two-hundred day simple moving average of $40.11. Neurogene has a 12-month low of $12.49 and a 12-month high of $74.49.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NGNE. Quest Partners LLC acquired a new position in shares of Neurogene during the second quarter valued at about $55,000. BNP Paribas Financial Markets increased its position in Neurogene by 192.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,170 shares of the company’s stock valued at $91,000 after buying an additional 1,429 shares in the last quarter. SG Americas Securities LLC acquired a new position in Neurogene during the 1st quarter worth approximately $120,000. MetLife Investment Management LLC bought a new position in Neurogene in the third quarter worth approximately $254,000. Finally, Jane Street Group LLC bought a new position in Neurogene in the third quarter worth approximately $324,000. 52.37% of the stock is owned by institutional investors.

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.