Neurogene (NASDAQ:NGNE) Receives “Buy” Rating from HC Wainwright

Neurogene (NASDAQ:NGNE)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $55.00 price objective on the stock. HC Wainwright’s target price points to a potential upside of 177.50% from the company’s previous close.

A number of other equities analysts have also weighed in on NGNE. Stifel Nicolaus increased their target price on shares of Neurogene from $44.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Leerink Partners raised their price objective on shares of Neurogene from $45.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. 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 report on Tuesday, November 12th. Finally, BMO Capital Markets cut their price objective on shares of Neurogene from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $63.33.

Neurogene Trading Down 42.6 %

Shares of NASDAQ:NGNE opened at $19.82 on Tuesday. Neurogene has a twelve month low of $12.49 and a twelve month high of $74.49. The company has a 50-day moving average price of $46.80 and a two-hundred day moving average price of $40.09.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. RTW Investments LP raised its stake in shares of Neurogene by 6.0% during the third quarter. RTW Investments LP now owns 1,135,256 shares of the company’s stock worth $47,635,000 after acquiring an additional 64,691 shares in the last quarter. FMR LLC raised its stake in shares of Neurogene by 912.4% during the third quarter. FMR LLC now owns 731,801 shares of the company’s stock worth $30,706,000 after acquiring an additional 659,515 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Neurogene by 906.5% during the first 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 in the last quarter. Baker BROS. Advisors LP raised its stake in shares of Neurogene by 0.6% during 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 in the last quarter. Finally, State Street Corp raised its stake in shares of Neurogene by 17.5% during the third quarter. State Street Corp now owns 246,540 shares of the company’s stock worth $10,345,000 after acquiring an additional 36,687 shares in the last quarter. 52.37% of the stock is owned by hedge funds and other 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.