BMO Capital Markets Has Lowered Expectations for Neurogene (NASDAQ:NGNE) Stock Price

Neurogene (NASDAQ:NGNE) had its price target decreased by BMO Capital Markets from $60.00 to $45.00 in a research report sent to investors on Wednesday morning,Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

Other research analysts have also recently issued research reports about the company. Stifel Nicolaus raised their price target on Neurogene from $44.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. William Blair restated an “outperform” rating on shares of Neurogene in a research report on Tuesday, November 19th. Leerink Partners upped their price target on shares of Neurogene from $45.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. 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, HC Wainwright restated a “buy” rating and set a $55.00 target price on shares of Neurogene in a research note on Tuesday, November 19th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $60.83.

Neurogene Price Performance

Shares of NASDAQ:NGNE opened at $20.30 on Wednesday. The business’s 50 day simple moving average is $44.97 and its 200 day simple moving average is $39.57. Neurogene has a 1 year low of $12.49 and a 1 year high of $74.49.

Hedge Funds Weigh In On Neurogene

Several large investors have recently modified their holdings of NGNE. Quest Partners LLC bought a new position in Neurogene during the 2nd quarter worth $55,000. BNP Paribas Financial Markets increased its stake in shares of Neurogene by 192.8% in 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 worth about $120,000. MetLife Investment Management LLC acquired a new position in shares of Neurogene in the third quarter worth approximately $254,000. Finally, Jane Street Group LLC bought a new stake in Neurogene in the third quarter valued at approximately $324,000. 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.