Neurogene (NASDAQ:NGNE) Price Target Raised to $72.00 at Leerink Partners

Neurogene (NASDAQ:NGNE) had its price target hoisted by Leerink Partners from $45.00 to $72.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an outperform rating on the stock.

Other analysts also recently issued research reports about the stock. HC Wainwright increased their target price on shares of Neurogene from $49.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday. Robert W. Baird increased their price objective on shares of Neurogene from $54.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Neurogene presently has a consensus rating of “Buy” and a consensus target price of $63.33.

Neurogene Stock Down 12.0 %

Shares of NASDAQ:NGNE opened at $34.52 on Tuesday. The business’s 50 day moving average is $47.11 and its 200 day moving average is $40.11. Neurogene has a 12-month low of $12.49 and a 12-month high of $74.49.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in shares of Neurogene in the 1st quarter worth approximately $120,000. Vanguard Group Inc. increased its holdings in 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 acquiring an additional 457,062 shares during the last quarter. Baker BROS. Advisors LP lifted its holdings in Neurogene by 0.6% during the first quarter. Baker BROS. Advisors LP now owns 456,015 shares of the company’s stock valued at $23,211,000 after purchasing an additional 2,499 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Neurogene in the second quarter worth about $1,107,000. Finally, Rhumbline Advisers bought a new stake in shares of Neurogene in the second quarter valued at approximately $491,000. 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.