HC Wainwright Reaffirms Buy Rating for Neurogene (NASDAQ:NGNE)

Neurogene (NASDAQ:NGNE)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a note issued to investors on Monday,Benzinga reports. They presently have a $55.00 target price on the stock. HC Wainwright’s price target would indicate a potential upside of 170.94% from the company’s current price.

NGNE has been the subject of several other reports. William Blair reiterated an “outperform” rating on shares of Neurogene in a research note on Tuesday, November 19th. Leerink Partners boosted their price target on Neurogene from $45.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Stifel Nicolaus boosted their price objective on shares of Neurogene from $44.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Robert W. Baird boosted 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 lowered their price objective on shares of Neurogene from $60.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $60.83.

Neurogene Trading Up 30.2 %

Shares of NGNE stock opened at $20.30 on Monday. The stock has a 50 day simple moving average of $44.97 and a 200 day simple moving average of $39.62. Neurogene has a 1 year low of $12.49 and a 1 year high of $74.49.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NGNE. FMR LLC increased its holdings 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 buying an additional 659,515 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Neurogene by 906.5% in the first 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 during the last quarter. Jennison Associates LLC bought a new stake in shares of Neurogene in the third quarter worth $3,300,000. Integral Health Asset Management LLC bought a new stake in shares of Neurogene in the second quarter worth $2,547,000. Finally, RTW Investments LP grew its stake in shares of Neurogene by 6.0% in the third quarter. RTW Investments LP now owns 1,135,256 shares of the company’s stock worth $47,635,000 after purchasing an additional 64,691 shares during the last quarter. 52.37% of the stock is currently owned by institutional investors and hedge funds.

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.