enGene (NASDAQ:ENGN) Coverage Initiated by Analysts at Raymond James

Raymond James started coverage on shares of enGene (NASDAQ:ENGN) in a research note released on Wednesday morning, MarketBeat reports. The brokerage issued an outperform rating and a $23.00 target price on the stock.

Several other brokerages have also commented on ENGN. JMP Securities began coverage on enGene in a research note on Monday, November 18th. They issued an “outperform” rating and a $18.00 price target on the stock. Morgan Stanley restated an “overweight” rating and issued a $40.00 price objective on shares of enGene in a report on Wednesday, September 11th. Oppenheimer reiterated an “outperform” rating and issued a $30.00 target price on shares of enGene in a report on Tuesday, September 24th. Finally, Citizens Jmp raised enGene to a “strong-buy” rating in a research report on Monday, November 18th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $30.38.

enGene Stock Up 0.5 %

enGene stock opened at $8.65 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 19.52 and a current ratio of 19.52. The company has a 50-day moving average price of $7.90 and a 200 day moving average price of $8.28. enGene has a 12-month low of $4.42 and a 12-month high of $18.40.

enGene (NASDAQ:ENGN) last released its quarterly earnings results on Tuesday, September 10th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.05. As a group, analysts expect that enGene will post -1.54 EPS for the current fiscal year.

Insider Buying and Selling at enGene

In other news, CEO Ronald Harold Wilfred Cooper purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was bought at an average price of $5.70 per share, for a total transaction of $57,000.00. Following the completion of the purchase, the chief executive officer now directly owns 10,000 shares of the company’s stock, valued at $57,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Growth Opportunities F. Forbion acquired 41,639 shares of the company’s stock in a transaction on Friday, September 27th. The stock was purchased at an average cost of $5.97 per share, for a total transaction of $248,584.83. Following the completion of the transaction, the insider now owns 2,059,459 shares in the company, valued at approximately $12,294,970.23. The trade was a 2.06 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 420,965 shares of company stock valued at $2,651,103 in the last 90 days. Company insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC purchased a new stake in enGene during the first quarter worth approximately $17,095,000. Point72 Asset Management L.P. boosted its holdings in shares of enGene by 1,410.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 663,000 shares of the company’s stock valued at $4,376,000 after buying an additional 619,100 shares in the last quarter. SR One Capital Management LP purchased a new position in shares of enGene in the 2nd quarter valued at $4,715,000. Logos Global Management LP raised its stake in enGene by 50.0% during the 2nd quarter. Logos Global Management LP now owns 1,200,000 shares of the company’s stock worth $11,316,000 after acquiring an additional 400,000 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in enGene by 48.7% in the third quarter. Franklin Resources Inc. now owns 1,189,952 shares of the company’s stock valued at $7,854,000 after acquiring an additional 389,918 shares during the last quarter. 64.16% of the stock is owned by institutional investors and hedge funds.

enGene Company Profile

enGene Holdings Inc, through its subsidiary enGene, Inc, operates as a clinical-stage biotechnology company that develops genetic medicines through the delivery of therapeutics to mucosal tissues and other organs. Its lead product candidate is EG-70 (detalimogene voraplasmid), which is a non-viral immunotherapy to treat non-muscle invasive bladder cancer patients with carcinoma-in-situ (Cis), who are unresponsive to treatment with Bacillus Calmette-Guérin.