Neurogene Inc. (NASDAQ:NGNE) Receives $63.33 Average Price Target from Brokerages

Shares of Neurogene Inc. (NASDAQ:NGNE) have received a consensus recommendation of “Buy” from the nine analysts that are presently covering the company, MarketBeat.com reports. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $63.33.

Several research firms have commented on NGNE. William Blair reissued an “outperform” rating on shares of Neurogene in a research report on Tuesday. Stifel Nicolaus raised their target price on Neurogene from $44.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. HC Wainwright restated a “buy” rating and issued a $55.00 price target on shares of Neurogene in a report on Tuesday. Robert W. Baird lifted their price objective on shares of Neurogene from $54.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Finally, BMO Capital Markets decreased their target price 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.

Neurogene Price Performance

Neurogene stock opened at $17.23 on Friday. The firm has a fifty day moving average of $46.38 and a 200-day moving average of $39.96. Neurogene has a 52-week low of $12.49 and a 52-week high of $74.49.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of NGNE. Charles Schwab Investment Management Inc. increased its stake in Neurogene by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 30,317 shares of the company’s stock valued at $1,272,000 after purchasing an additional 741 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Neurogene by 192.8% during the third quarter. BNP Paribas Financial Markets now owns 2,170 shares of the company’s stock worth $91,000 after acquiring an additional 1,429 shares during the period. Quest Partners LLC bought a new position in Neurogene in the second quarter worth about $55,000. SG Americas Securities LLC bought a new position in Neurogene in the first quarter worth about $120,000. Finally, Baker BROS. Advisors LP boosted its stake in Neurogene by 0.6% in the first 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. Institutional investors 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.