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

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

A number of other research firms also recently commented on NGNE. HC Wainwright reiterated a “buy” rating and issued a $55.00 price target on shares of Neurogene in a research note on Tuesday. Leerink Partners lifted their target price on Neurogene from $45.00 to $72.00 and gave the company 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. Robert W. Baird lifted their target price on Neurogene from $54.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. 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 note on Tuesday, November 12th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $60.83.

Neurogene Stock Down 11.0 %

Shares of NASDAQ NGNE opened at $15.33 on Wednesday. Neurogene has a 1 year low of $12.49 and a 1 year high of $74.49. The stock’s 50-day simple moving average is $45.90 and its 200-day simple moving average is $39.79.

Institutional Investors Weigh In On Neurogene

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NGNE. SG Americas Securities LLC purchased a new stake in shares of Neurogene during the 1st quarter worth about $120,000. Vanguard Group Inc. raised its position in Neurogene by 906.5% during the first quarter. Vanguard Group Inc. now owns 507,483 shares of the company’s stock valued at $25,831,000 after acquiring an additional 457,062 shares in the last quarter. Baker BROS. Advisors LP lifted its stake in Neurogene by 0.6% in the first quarter. Baker BROS. Advisors LP now owns 456,015 shares of the company’s stock valued at $23,211,000 after acquiring an additional 2,499 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Neurogene in the second quarter worth approximately $1,107,000. Finally, Rhumbline Advisers bought a new position in shares of Neurogene during the 2nd quarter valued at $491,000. 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.