Neurogene (NASDAQ:NGNE) Price Target Raised to $72.00 at Robert W. Baird

Neurogene (NASDAQ:NGNE - Get Free Report) had its target price increased by equities research analysts at Robert W. Baird from $54.00 to $72.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Robert W. Baird's price objective points to a potential upside of 82.09% from the company's previous close.

Separately, HC Wainwright lowered their price target on Neurogene from $51.00 to $49.00 and set a "buy" rating for the company in a research report on Monday, August 12th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $63.33.

Neurogene Stock Performance

Shares of NGNE stock traded down $31.99 during trading hours on Tuesday, reaching $39.54. 1,630,911 shares of the company's stock were exchanged, compared to its average volume of 133,895. The stock's 50 day moving average is $46.77 and its 200-day moving average is $40.05. Neurogene has a fifty-two week low of $12.49 and a fifty-two week high of $74.49.

Neurogene (NASDAQ:NGNE - Get Free Report) last announced its earnings results on Friday, August 9th. The company reported ($1.09) EPS for the quarter, missing analysts' consensus estimates of ($1.02) by ($0.07). The business had revenue of $0.93 million during the quarter. Analysts expect that Neurogene will post -4.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Neurogene

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Neurogene by 906.5% in the 1st 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 last quarter. Jennison Associates LLC acquired a new position in Neurogene during the third quarter valued at approximately $3,300,000. Integral Health Asset Management LLC acquired a new position in Neurogene during the second quarter valued at approximately $2,547,000. Driehaus Capital Management LLC boosted its holdings in shares of Neurogene by 123.8% in the second quarter. Driehaus Capital Management LLC now owns 102,187 shares of the company's stock valued at $3,719,000 after buying an additional 56,533 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in shares of Neurogene in the second quarter worth $1,107,000. Hedge funds and other 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.