HC Wainwright Boosts Neurogene (NASDAQ:NGNE) Price Target to $55.00

Neurogene (NASDAQ:NGNE) had its price objective raised by HC Wainwright from $49.00 to $55.00 in a research note released on Tuesday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Separately, 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. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Neurogene currently has an average rating of “Buy” and a consensus target price of $63.33.

Neurogene Stock Performance

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

Institutional Investors Weigh In On Neurogene

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Driehaus Capital Management LLC boosted its stake in Neurogene by 123.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 102,187 shares of the company’s stock valued at $3,719,000 after purchasing an additional 56,533 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Neurogene during the second quarter valued at about $1,107,000. Vanguard Group Inc. grew its holdings in Neurogene by 906.5% during the first quarter. Vanguard Group Inc. now owns 507,483 shares of the company’s stock worth $25,831,000 after acquiring an additional 457,062 shares during the period. Marshall Wace LLP raised its position in Neurogene by 37.2% in the second quarter. Marshall Wace LLP now owns 41,447 shares of the company’s stock worth $1,508,000 after acquiring an additional 11,229 shares in the last quarter. Finally, Integral Health Asset Management LLC bought a new stake in Neurogene in the second quarter worth about $2,547,000. 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.