BMO Capital Markets Lowers Neurogene (NASDAQ:NGNE) Price Target to $45.00

Neurogene (NASDAQ:NGNE) had its target price lowered by BMO Capital Markets from $60.00 to $45.00 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

NGNE has been the subject of several other research reports. HC Wainwright reaffirmed a “buy” rating and set a $55.00 price target on shares of Neurogene in a research report on Tuesday. Robert W. Baird upped their target price on shares of Neurogene from $54.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Leerink Partners lifted their price target on shares of Neurogene from $45.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. William Blair restated an “outperform” rating on shares of Neurogene in a research note on Tuesday. Finally, Stifel Nicolaus lifted their target price on Neurogene from $44.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Neurogene presently has a consensus rating of “Buy” and an average price target of $60.83.

Neurogene Stock Up 30.2 %

Shares of NGNE opened at $20.30 on Wednesday. Neurogene has a one year low of $12.49 and a one year high of $74.49. The business has a fifty day moving average of $44.97 and a 200 day moving average of $39.53.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Driehaus Capital Management LLC raised its holdings 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 acquiring an additional 56,533 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Neurogene during the second quarter worth about $1,107,000. Vanguard Group Inc. raised its stake in 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 purchasing an additional 457,062 shares during the period. Marshall Wace LLP raised its stake in Neurogene by 37.2% during the 2nd quarter. Marshall Wace LLP now owns 41,447 shares of the company’s stock valued at $1,508,000 after purchasing an additional 11,229 shares during the period. Finally, Integral Health Asset Management LLC purchased a new position in Neurogene in the 2nd quarter worth approximately $2,547,000. Hedge funds and other institutional investors own 52.37% of the company’s stock.

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.