Neurogene (NASDAQ:NGNE) Stock Price Target Cut by HC Wainwright

Neurogene (NASDAQ:NGNE) had its target price decreased by investment analysts at HC Wainwright from $65.00 to $60.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright‘s price target indicates a potential upside of 130.77% from the stock’s current price.

Several other research analysts also recently commented on NGNE. JPMorgan Chase & Co. initiated coverage on Neurogene in a report on Thursday, October 8th. They set an “overweight” rating and a $60.00 price objective on the stock. Canaccord Genuity Group dropped their price target on Neurogene from $180.00 to $166.00 and set a “buy” rating on the stock in a research report on Wednesday, August 12th. Wall Street Zen lowered Neurogene from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 10th. Guggenheim lifted their price objective on Neurogene from $69.00 to $81.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Finally, William Blair upgraded Neurogene to a “strong-buy” rating in a report on Wednesday, September 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Neurogene currently has an average rating of “Buy” and an average target price of $79.57.

Neurogene Stock Performance

Shares of NGNE stock opened at $26.00 on Tuesday. The company’s 50-day simple moving average is $29.25 and its two-hundred day simple moving average is $27.98. Neurogene has a one year low of $15.93 and a one year high of $43.66.

Neurogene (NASDAQ:NGNE) last posted its quarterly earnings results on Monday, November 9th. The company reported ($1.05) earnings per share for the quarter, beating the consensus estimate of ($1.36) by $0.31. On average, analysts anticipate that Neurogene will post -5.88 EPS for the current fiscal year.

Hedge Funds Weigh In On Neurogene

Large investors have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in Neurogene during the 2nd quarter valued at $33,274,000. Trails Edge Capital Partners LP bought a new position in shares of Neurogene in the 2nd quarter worth $22,483,133. Moore Capital Management LP bought a new position in shares of Neurogene in the 2nd quarter worth $4,454,000. Deutsche Bank AG bought a new position in shares of Neurogene in the 2nd quarter worth $3,354,000. Finally, Wellington Management Group LLP purchased a new stake in shares of Neurogene during the 2nd quarter worth $987,000. Institutional investors own 52.37% of the company’s stock.

About Neurogene

Neurogene Inc (NASDAQ: NGNE) is a clinical-stage biotechnology company focused on developing genetic medicines for patients with rare neurological diseases. The company designs gene therapies intended to address the underlying genetic causes of disorders for which treatment options are limited or unavailable.

Neurogene’s lead program is NGN-401, an investigational gene therapy being developed for Rett syndrome, a rare neurodevelopmental disorder. The company is also advancing NGN-101 for CLN5 Batten disease, a form of neuronal ceroid lipofuscinosis.