Neurogene (NASDAQ:NGNE) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Neurogene (NASDAQ:NGNE) had its price objective increased by Stifel Nicolaus from $44.00 to $60.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts also recently weighed in on the stock. HC Wainwright raised 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. Leerink Partners increased their price objective on shares of Neurogene from $45.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday. Robert W. Baird raised their price objective on Neurogene from $54.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, BMO Capital Markets decreased their price objective on shares of Neurogene from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Tuesday. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $63.33.

Neurogene Price Performance

NGNE stock opened at $34.52 on Tuesday. Neurogene has a 52 week low of $12.49 and a 52 week high of $74.49. The company’s 50-day moving average price is $47.11 and its 200 day moving average price is $40.11.

Institutional Trading of Neurogene

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Quest Partners LLC bought a new stake in shares of Neurogene in the 2nd quarter valued at $55,000. BNP Paribas Financial Markets lifted its position in Neurogene by 192.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,170 shares of the company’s stock worth $91,000 after buying an additional 1,429 shares in the last quarter. SG Americas Securities LLC bought a new stake in Neurogene during the 1st quarter worth about $120,000. MetLife Investment Management LLC acquired a new position in Neurogene during the third quarter valued at approximately $254,000. Finally, Jane Street Group LLC bought a new position in shares of Neurogene in the third quarter valued at $324,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

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.