Morgan Stanley Reaffirms “Overweight” Rating for enGene (NASDAQ:ENGN)

enGene (NASDAQ:ENGN)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Morgan Stanley in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $40.00 price target on the stock.

Separately, Oppenheimer began coverage on enGene in a report on Wednesday, August 28th. They set an “outperform” rating and a $30.00 target price on the stock. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $33.67.

enGene Price Performance

ENGN stock opened at $6.65 on Wednesday. The company has a current ratio of 42.80, a quick ratio of 42.80 and a debt-to-equity ratio of 0.09. enGene has a 12-month low of $4.94 and a 12-month high of $43.00. The business’s 50-day moving average is $7.54 and its 200 day moving average is $11.53.

enGene (NASDAQ:ENGN) last posted its quarterly earnings data on Tuesday, September 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.05. As a group, equities analysts expect that enGene will post -1.49 earnings per share for the current fiscal year.

Institutional Trading of enGene

Several institutional investors have recently made changes to their positions in ENGN. BVF Inc. IL purchased a new stake in shares of enGene during the 4th quarter valued at approximately $20,777,000. Omega Fund Management LLC purchased a new stake in shares of enGene during the 4th quarter valued at approximately $10,441,000. Janus Henderson Group PLC purchased a new stake in shares of enGene during the 1st quarter valued at approximately $17,095,000. SR One Capital Management LP purchased a new stake in shares of enGene during the 2nd quarter valued at approximately $4,715,000. Finally, 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 buying an additional 400,000 shares during the period. Hedge funds and other 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.