enGene (NASDAQ:ENGN) Coverage Initiated at JMP Securities

Equities research analysts at JMP Securities started coverage on shares of enGene (NASDAQ:ENGN) in a report issued on Monday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $18.00 price target on the stock. JMP Securities’ price target points to a potential upside of 139.36% from the stock’s previous close.

Several other equities research analysts have also issued reports on the stock. Oppenheimer reissued an “outperform” rating and set a $30.00 target price on shares of enGene in a research note on Tuesday, September 24th. Morgan Stanley reissued an “overweight” rating and set a $40.00 target price on shares of enGene in a research note on Wednesday, September 11th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $31.43.

enGene Stock Down 1.8 %

ENGN stock opened at $7.52 on Monday. The company’s 50-day simple moving average is $7.70 and its 200-day simple moving average is $8.60. The company has a debt-to-equity ratio of 0.09, a current ratio of 19.52 and a quick ratio of 19.52. enGene has a 52-week low of $4.42 and a 52-week high of $18.40.

enGene (NASDAQ:ENGN) last posted its earnings results 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 predict that enGene will post -1.54 earnings per share for the current year.

Insider Activity at enGene

In other enGene news, CEO Ronald Harold Wilfred Cooper bought 10,000 shares of the firm’s stock in a transaction on 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 purchase, the chief executive officer now directly owns 10,000 shares of the company’s stock, valued at $57,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Growth Opportunities F. Forbion bought 41,639 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was acquired at an average cost of $5.97 per share, for a total transaction of $248,584.83. Following the completion of the purchase, the insider now directly owns 2,059,459 shares in the company, valued at approximately $12,294,970.23. This represents a 2.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 420,965 shares of company stock valued at $2,651,103. 13.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ENGN. Janus Henderson Group PLC purchased a new position in enGene in the 1st quarter worth approximately $17,095,000. Point72 Asset Management L.P. lifted 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 purchasing an additional 619,100 shares in the last quarter. SR One Capital Management LP purchased a new position in enGene in the 2nd quarter worth approximately $4,715,000. Logos Global Management LP lifted its stake in enGene by 50.0% in the 2nd quarter. Logos Global Management LP now owns 1,200,000 shares of the company’s stock worth $11,316,000 after purchasing an additional 400,000 shares in the last quarter. Finally, Altitude Crest Partners Inc. purchased a new position in enGene in the 1st quarter worth approximately $2,039,000. 64.16% of the stock is owned by hedge funds and other institutional investors.

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.