Neurogene (NASDAQ:NGNE) Given New $51.00 Price Target at HC Wainwright

Neurogene (NASDAQ:NGNE - Get Free Report) had its price objective dropped by equities research analysts at HC Wainwright from $55.00 to $51.00 in a report released on Monday, Benzinga reports. The firm presently has a "buy" rating on the stock. HC Wainwright's price objective would suggest a potential upside of 66.45% from the stock's current price.

A number of other equities analysts also recently commented on NGNE. William Blair started coverage on Neurogene in a research note on Thursday, March 21st. They issued an "outperform" rating and a $61.00 price target for the company. SVB Leerink initiated coverage on Neurogene in a report on Monday, April 29th. They issued an "outperform" rating and a $46.00 price target for the company. Finally, Leerink Partnrs restated an "outperform" rating on shares of Neurogene in a research note on Monday, April 29th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $47.25.

Neurogene Price Performance

NASDAQ NGNE traded down $1.86 during trading hours on Monday, reaching $30.64. 47,541 shares of the company traded hands, compared to its average volume of 119,084. Neurogene has a 12 month low of $12.20 and a 12 month high of $53.00. The stock has a 50 day simple moving average of $38.49.

Institutional Investors Weigh In On Neurogene

Several large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in shares of Neurogene during the first quarter worth approximately $120,000. Privium Fund Management UK Ltd bought a new position in shares of Neurogene in the first quarter worth $274,000. BML Capital Management LLC acquired a new position in shares of Neurogene during the fourth quarter valued at $478,000. Avidity Partners Management LP bought a new stake in shares of Neurogene during the fourth quarter valued at about $9,036,000. Finally, Great Point Partners LLC acquired a new stake in shares of Neurogene in the 4th quarter worth approximately $19,268,000. 52.37% of the stock is owned by institutional investors and hedge funds.

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.