Neurogene (NASDAQ:NGNE) Price Target Cut to $60.00 by Analysts at BMO Capital Markets

Neurogene (NASDAQ:NGNE) had its price objective decreased by stock analysts at BMO Capital Markets from $65.00 to $60.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price target would indicate a potential upside of 54.64% from the company’s current price.

NGNE has been the topic of a number of other reports. Robert W. Baird increased their price target on shares of Neurogene from $54.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday. Leerink Partners raised their target price on Neurogene from $45.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, HC Wainwright upped their price target on Neurogene from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $58.50.

Neurogene Trading Down 45.8 %

Shares of NASDAQ:NGNE traded down $32.73 during trading on Tuesday, hitting $38.80. The stock had a trading volume of 754,979 shares, compared to its average volume of 129,480. Neurogene has a 12-month low of $12.49 and a 12-month high of $74.49. The stock has a 50-day simple moving average of $46.77 and a two-hundred day simple moving average of $40.05.

Neurogene (NASDAQ:NGNE) last posted its earnings results on Friday, August 9th. The company reported ($1.09) EPS for the quarter, missing the consensus estimate of ($1.02) by ($0.07). The company had revenue of $0.93 million during the quarter. Equities analysts predict that Neurogene will post -4.44 EPS for the current year.

Institutional Trading of Neurogene

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Neurogene by 906.5% in 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 in the last quarter. Jennison Associates LLC acquired a new stake in shares of Neurogene in the third quarter valued at about $3,300,000. Integral Health Asset Management LLC purchased a new position in shares of Neurogene in the second quarter worth about $2,547,000. Driehaus Capital Management LLC boosted its position in Neurogene by 123.8% during the second quarter. Driehaus Capital Management LLC now owns 102,187 shares of the company’s stock worth $3,719,000 after acquiring an additional 56,533 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Neurogene during the 2nd quarter valued at about $1,107,000. 52.37% of the stock is currently 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.