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 note issued to investors on Wednesday,Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

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

Neurogene Trading Up 30.2 %

NGNE opened at $20.30 on Wednesday. The stock has a fifty day simple moving average of $44.97 and a two-hundred day simple moving average of $39.53. Neurogene has a 12-month low of $12.49 and a 12-month high of $74.49.

Hedge Funds Weigh In On Neurogene

Hedge funds have recently added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of Neurogene by 912.4% in the 3rd quarter. FMR LLC now owns 731,801 shares of the company’s stock worth $30,706,000 after purchasing an additional 659,515 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of 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 buying an additional 457,062 shares during the last quarter. Jennison Associates LLC purchased a new stake in shares of Neurogene during the third quarter valued at $3,300,000. Integral Health Asset Management LLC bought a new stake in Neurogene in the 2nd quarter worth about $2,547,000. Finally, RTW Investments LP raised its position in Neurogene by 6.0% in 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 last quarter. 52.37% of the stock is currently 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.