Neurogene (NASDAQ:NGNE) Price Target Raised to $72.00

Neurogene (NASDAQ:NGNE) had its target price upped by Leerink Partners from $45.00 to $72.00 in a research report released on Tuesday,Benzinga reports. Leerink Partners currently has an outperform rating on the stock.

A number of other research analysts have also recently weighed in on NGNE. HC Wainwright lifted their price target on shares of Neurogene from $49.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday. Robert W. Baird upped their target price on Neurogene from $54.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $63.33.

Neurogene Stock Performance

Shares of NASDAQ NGNE traded down $2.31 during trading on Tuesday, reaching $36.89. The company had a trading volume of 144,574 shares, compared to its average volume of 139,768. The stock has a 50-day moving average price of $47.11 and a two-hundred day moving average price of $40.11. Neurogene has a twelve month low of $12.49 and a twelve month high of $74.49.

Institutional Trading of Neurogene

Several institutional investors have recently modified their holdings of NGNE. Driehaus Capital Management LLC lifted its position in shares of Neurogene by 123.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 102,187 shares of the company’s stock valued at $3,719,000 after acquiring an additional 56,533 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Neurogene in the 2nd quarter worth $1,107,000. Vanguard Group Inc. lifted its holdings in shares of 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 buying an additional 457,062 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Neurogene by 37.2% during the 2nd quarter. Marshall Wace LLP now owns 41,447 shares of the company’s stock worth $1,508,000 after purchasing an additional 11,229 shares during the period. Finally, Integral Health Asset Management LLC bought a new position in Neurogene in the second quarter worth $2,547,000. Institutional investors and hedge funds 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.