HC Wainwright Reaffirms Buy Rating for Neurogene (NASDAQ:NGNE)

Neurogene (NASDAQ:NGNE)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $55.00 target price on the stock. HC Wainwright’s price objective indicates a potential upside of 258.77% from the company’s previous close.

NGNE has been the subject of several other research reports. Stifel Nicolaus raised their target price on Neurogene from $44.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. BMO Capital Markets reduced their price objective on shares of Neurogene from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Robert W. Baird increased their target price 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. Finally, Leerink Partners boosted their price target on shares of Neurogene from $45.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $60.83.

Neurogene Stock Performance

Shares of Neurogene stock opened at $15.33 on Tuesday. Neurogene has a 52-week low of $12.49 and a 52-week high of $74.49. The stock’s 50-day simple moving average is $45.90 and its 200 day simple moving average is $39.79.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NGNE. Quest Partners LLC purchased a new stake in shares of Neurogene in the 2nd quarter valued at $55,000. BNP Paribas Financial Markets boosted its position in Neurogene by 192.8% during the third quarter. BNP Paribas Financial Markets now owns 2,170 shares of the company’s stock valued at $91,000 after buying an additional 1,429 shares during the period. SG Americas Securities LLC bought a new position in shares of Neurogene during the first quarter valued at about $120,000. MetLife Investment Management LLC purchased a new position in shares of Neurogene in the third quarter worth about $254,000. Finally, Jane Street Group LLC bought a new stake in shares of Neurogene in the 3rd quarter valued at about $324,000. 52.37% of the stock is currently owned by 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.