enGene’s (ENGN) Market Outperform Rating Reiterated at JMP Securities

JMP Securities restated their market outperform rating on shares of enGene (NASDAQ:ENGN) in a research report report published on Friday morning,Benzinga reports. They currently have a $18.00 price objective on the stock.

Several other research firms have also recently issued reports on ENGN. Morgan Stanley reaffirmed an “overweight” rating and issued a $40.00 price objective on shares of enGene in a research report on Wednesday, September 11th. Oppenheimer reaffirmed an “outperform” rating and set a $30.00 price target on shares of enGene in a report on Tuesday, September 24th. Raymond James began coverage on enGene in a research report on Wednesday, November 27th. They set an “outperform” rating and a $23.00 price objective on the stock. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, enGene has a consensus rating of “Buy” and a consensus price target of $30.38.

enGene Price Performance

Shares of NASDAQ:ENGN opened at $8.65 on Friday. The business has a fifty day moving average price of $8.15 and a 200-day moving average price of $8.08. enGene has a 1-year low of $4.42 and a 1-year high of $18.40. The company has a debt-to-equity ratio of 0.09, a quick ratio of 19.52 and a current ratio of 19.52.

enGene (NASDAQ:ENGN) last released its quarterly earnings data on Tuesday, September 10th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.05. As a group, analysts anticipate that enGene will post -1.52 EPS for the current year.

Insider Buying and Selling

In other enGene news, major shareholder Growth Opportunities F. Forbion purchased 41,639 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were acquired 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 of the company’s stock, valued at approximately $12,294,970.23. The trade was a 2.06 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ronald Harold Wilfred Cooper acquired 10,000 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were acquired at an average cost of $5.70 per share, with a total value of $57,000.00. Following the transaction, the chief executive officer now owns 10,000 shares in the company, valued at approximately $57,000. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 420,965 shares of company stock valued at $2,651,103. 13.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Logos Global Management LP raised its position in shares of enGene by 50.0% during the 2nd quarter. Logos Global Management LP now owns 1,200,000 shares of the company’s stock valued at $11,316,000 after purchasing an additional 400,000 shares during the period. Franklin Resources Inc. increased its stake in enGene by 48.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,189,952 shares of the company’s stock worth $7,854,000 after buying an additional 389,918 shares in the last quarter. Point72 Asset Management L.P. increased its stake in enGene by 1,410.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 663,000 shares of the company’s stock worth $4,376,000 after buying an additional 619,100 shares in the last quarter. SR One Capital Management LP bought a new stake in enGene during the second quarter valued at about $4,715,000. Finally, Wolverine Asset Management LLC purchased a new position in shares of enGene in the third quarter valued at about $37,000. Institutional investors own 64.16% of the company’s stock.

About enGene

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.