Stifel Nicolaus Forecasts Strong Price Appreciation for Neurogene (NASDAQ:NGNE) Stock

Neurogene (NASDAQ:NGNE) had its price target hoisted by Stifel Nicolaus from $44.00 to $60.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

NGNE has been the subject of several other reports. BMO Capital Markets cut 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. HC Wainwright raised their price objective on Neurogene from $49.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday. Robert W. Baird boosted their target price on Neurogene from $54.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Leerink Partners raised their price target on Neurogene from $45.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Neurogene has an average rating of “Buy” and an average price target of $63.33.

Neurogene Stock Performance

NASDAQ NGNE traded down $2.31 on Tuesday, hitting $36.89. 144,574 shares of the stock were exchanged, compared to its average volume of 139,768. The business’s fifty day moving average is $47.11 and its 200 day moving average is $40.11. Neurogene has a 52 week low of $12.49 and a 52 week high of $74.49.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NGNE. SG Americas Securities LLC bought a new stake in Neurogene during the first quarter worth about $120,000. Vanguard Group Inc. lifted its holdings in shares of Neurogene by 906.5% during the 1st quarter. Vanguard Group Inc. now owns 507,483 shares of the company’s stock worth $25,831,000 after acquiring an additional 457,062 shares during the period. Baker BROS. Advisors LP increased 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 last quarter. Bank of New York Mellon Corp acquired a new position in Neurogene during the second quarter valued at approximately $1,107,000. Finally, Rhumbline Advisers bought a new stake in Neurogene during the second quarter worth $491,000. 52.37% of the stock is owned by institutional investors.

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.