Neurogene (NASDAQ:NGNE) Price Target Lowered to $60.00 at BMO Capital Markets

Neurogene (NASDAQ:NGNE) had its price target trimmed by BMO Capital Markets from $65.00 to $60.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other research firms have also recently commented on NGNE. HC Wainwright boosted their price target on Neurogene from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday. Robert W. Baird lifted 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. Finally, Leerink Partners upped their target price on shares of Neurogene from $45.00 to $72.00 and gave the stock an “outperform” rating in a research report 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 stock presently has an average rating of “Buy” and a consensus target price of $63.33.

Neurogene Price Performance

NASDAQ:NGNE opened at $40.00 on Tuesday. The business’s 50-day simple moving average is $46.77 and its two-hundred day simple moving average is $40.05. Neurogene has a 52 week low of $12.49 and a 52 week high of $74.49.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NGNE. Quest Partners LLC bought a new position in shares of Neurogene in the 2nd quarter valued at about $55,000. SG Americas Securities LLC bought a new position in Neurogene during the first quarter valued at $120,000. Rhumbline Advisers purchased a new stake in shares of Neurogene in the second quarter valued at $491,000. Avoro Capital Advisors LLC purchased a new position in shares of Neurogene during the 2nd quarter worth about $802,000. Finally, Bank of New York Mellon Corp bought a new position in Neurogene during the 2nd quarter valued at about $1,107,000. 52.37% of the stock is owned by hedge funds and other institutional investors.

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.