Neurogene (NASDAQ:NGNE) PT Lowered to $49.00

Neurogene (NASDAQ:NGNE) had its price target reduced by equities research analysts at HC Wainwright from $51.00 to $49.00 in a report released on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 43.36% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Robert W. Baird assumed coverage on shares of Neurogene in a report on Tuesday, June 11th. They issued an “outperform” rating and a $54.00 price target on the stock. Baird R W raised Neurogene to a “strong-buy” rating in a report on Tuesday, June 11th. SVB Leerink started coverage on Neurogene in a report on Monday, April 29th. They issued an “outperform” rating and a $46.00 price objective on the stock. Leerink Partnrs reissued an “outperform” rating on shares of Neurogene in a report on Monday, April 29th. Finally, BMO Capital Markets started coverage on shares of Neurogene in a research report on Thursday, June 27th. They set an “outperform” rating and a $65.00 price target on the stock. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $51.00.

Neurogene Stock Performance

Shares of NASDAQ:NGNE opened at $34.18 on Monday. The business has a 50 day simple moving average of $38.21 and a two-hundred day simple moving average of $36.41. Neurogene has a 1 year low of $12.20 and a 1 year high of $53.00.

Neurogene (NASDAQ:NGNE) last announced its quarterly earnings data on Friday, August 9th. The company reported ($1.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.07). The company had revenue of $0.93 million for the quarter. As a group, equities research analysts predict that Neurogene will post -4.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Neurogene

Hedge funds have recently bought and sold shares of the company. Quest Partners LLC purchased a new position in Neurogene in the 2nd quarter valued at approximately $55,000. Rhumbline Advisers purchased a new position in Neurogene during the 2nd quarter worth approximately $491,000. Bank of New York Mellon Corp acquired a new position in shares of Neurogene in the 2nd quarter valued at $1,107,000. Baker BROS. Advisors LP increased its position in Neurogene by 0.6% in the 1st quarter. Baker BROS. Advisors LP now owns 456,015 shares of the company’s stock valued at $23,211,000 after acquiring an additional 2,499 shares during the period. Finally, 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 purchasing an additional 457,062 shares during the period. 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.