Neurogene (NASDAQ:NGNE) Given New $45.00 Price Target at BMO Capital Markets

Neurogene (NASDAQ:NGNE) had its price objective reduced by stock analysts at BMO Capital Markets from $60.00 to $45.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective indicates a potential upside of 158.62% from the company’s current price.

Several other research analysts also recently issued reports on the stock. Stifel Nicolaus raised their price objective on shares of Neurogene from $44.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. HC Wainwright restated a “buy” rating and set a $55.00 target price on shares of Neurogene in a research report on Tuesday. William Blair reiterated an “outperform” rating on shares of Neurogene in a research report on Tuesday. Robert W. Baird boosted their target price on shares of Neurogene from $54.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Finally, Leerink Partners lifted their target price on shares of Neurogene from $45.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Neurogene presently has an average rating of “Buy” and an average target price of $60.83.

Neurogene Stock Performance

Shares of Neurogene stock opened at $17.40 on Wednesday. The company has a fifty day simple moving average of $46.38 and a 200-day simple moving average of $39.96. Neurogene has a 12-month low of $12.49 and a 12-month high of $74.49.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NGNE. Driehaus Capital Management LLC boosted its stake in shares of Neurogene by 123.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 102,187 shares of the company’s stock worth $3,719,000 after acquiring an additional 56,533 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Neurogene in the second quarter valued at $1,107,000. Vanguard Group Inc. lifted its holdings in Neurogene by 906.5% during the 1st quarter. Vanguard Group Inc. now owns 507,483 shares of the company’s stock valued at $25,831,000 after purchasing an additional 457,062 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of Neurogene by 37.2% in the 2nd 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 shares of Neurogene during the second quarter worth $2,547,000. 52.37% of the stock is owned by institutional investors and hedge funds.

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.