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

Neurogene (NASDAQ:NGNE) had its price objective lifted by Stifel Nicolaus from $44.00 to $60.00 in a research report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

NGNE has been the topic of several other research reports. BMO Capital Markets cut their target price on Neurogene from $65.00 to $60.00 and set an “outperform” rating on the stock in a research 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 note on Tuesday. Leerink Partners boosted their target price on shares of Neurogene from $45.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, HC Wainwright raised their price target on shares of 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $63.33.

Neurogene Price Performance

NGNE stock opened at $34.52 on Tuesday. The firm has a 50-day moving average price of $47.11 and a 200-day moving average price of $40.11. Neurogene has a 12 month low of $12.49 and a 12 month high of $74.49.

Institutional Investors Weigh In On Neurogene

Hedge funds have recently made changes to their positions in the stock. Barclays PLC grew its position in Neurogene by 319.4% during the 3rd quarter. Barclays PLC now owns 14,859 shares of the company’s stock worth $623,000 after purchasing an additional 11,316 shares during the period. Jane Street Group LLC purchased a new stake in shares of Neurogene during the 3rd quarter valued at approximately $324,000. Wellington Management Group LLP acquired a new stake in shares of Neurogene during the third quarter valued at about $767,000. State Street Corp raised its holdings in shares of Neurogene by 17.5% in the 3rd quarter. State Street Corp now owns 246,540 shares of the company’s stock valued at $10,345,000 after buying an additional 36,687 shares during the period. Finally, RTW Investments LP increased its stake in Neurogene by 6.0% during the 3rd quarter. RTW Investments LP now owns 1,135,256 shares of the company’s stock worth $47,635,000 after buying an additional 64,691 shares during the period. 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.