Neurogene (NASDAQ:NGNE) Given New $72.00 Price Target at Robert W. Baird

Neurogene (NASDAQ:NGNE) had its price target increased by stock analysts at Robert W. Baird from $54.00 to $72.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price objective would suggest a potential upside of 0.66% from the stock’s current price.

Separately, HC Wainwright reduced their price target on Neurogene from $51.00 to $49.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Neurogene has a consensus rating of “Buy” and a consensus target price of $55.00.

Neurogene Price Performance

Shares of Neurogene stock opened at $71.53 on Tuesday. The firm has a 50-day moving average of $46.77 and a 200-day moving average of $40.05. Neurogene has a 52-week low of $12.49 and a 52-week high of $74.49.

Neurogene (NASDAQ:NGNE) last announced its earnings results on Friday, August 9th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.07). The business had revenue of $0.93 million for the quarter. As a group, equities analysts forecast that Neurogene will post -4.44 earnings per share for the current year.

Institutional Trading of Neurogene

Several institutional investors and hedge funds have recently modified their holdings of the business. Driehaus Capital Management LLC raised its stake in Neurogene by 123.8% during the second quarter. Driehaus Capital Management LLC now owns 102,187 shares of the company’s stock worth $3,719,000 after acquiring an additional 56,533 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Neurogene during the 2nd quarter worth approximately $1,107,000. Vanguard Group Inc. increased its position in 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 purchasing an additional 457,062 shares in the last quarter. Marshall Wace LLP lifted its stake in Neurogene by 37.2% in the 2nd quarter. Marshall Wace LLP now owns 41,447 shares of the company’s stock valued at $1,508,000 after purchasing an additional 11,229 shares during the last quarter. Finally, Integral Health Asset Management LLC acquired a new stake in Neurogene in the second quarter valued at approximately $2,547,000. 52.37% of the stock is currently 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.