enGene (NASDAQ:ENGN) Coverage Initiated by Analysts at HC Wainwright

HC Wainwright began coverage on shares of enGene (NASDAQ:ENGN) in a research note published on Monday, Marketbeat.com reports. The firm issued a buy rating and a $25.00 price objective on the stock.

Several other brokerages also recently commented on ENGN. Raymond James initiated coverage on enGene in a report on Wednesday, November 27th. They set an “outperform” rating and a $23.00 price target on the stock. Citizens Jmp upgraded shares of enGene to a “strong-buy” rating in a report on Monday, November 18th. JMP Securities restated a “market outperform” rating and set a $18.00 price target on shares of enGene in a report on Friday, December 6th. Oppenheimer reiterated an “outperform” rating and issued a $30.00 price objective on shares of enGene in a research note on Tuesday, September 24th. Finally, Morgan Stanley restated an “overweight” rating and set a $40.00 target price on shares of enGene in a research note on Wednesday, September 11th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, enGene has an average rating of “Buy” and an average target price of $29.78.

enGene Stock Performance

Shares of ENGN stock opened at $5.96 on Monday. enGene has a fifty-two week low of $4.42 and a fifty-two week high of $18.40. The stock’s 50-day moving average is $8.13 and its two-hundred day moving average is $7.80. The company has a debt-to-equity ratio of 0.09, a current ratio of 19.52 and a quick ratio of 19.52. The firm has a market cap of $263.53 million, a P/E ratio of -10.28 and a beta of -0.78.

enGene (NASDAQ:ENGN) last announced its quarterly earnings results on Thursday, December 19th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.06. Analysts predict that enGene will post -1.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Growth Opportunities F. Forbion acquired 41,639 shares of the business’s stock in a transaction on Friday, September 27th. The stock was bought at an average cost of $5.97 per share, with a total value of $248,584.83. Following the completion of the acquisition, the insider now owns 2,059,459 shares in the company, valued at $12,294,970.23. The trade was a 2.06 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ronald Harold Wilfred Cooper bought 10,000 shares of the stock in a transaction dated Friday, September 27th. The stock was purchased at an average cost of $5.70 per share, for a total transaction of $57,000.00. Following the acquisition, the chief executive officer now owns 10,000 shares in the company, valued at $57,000. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 420,965 shares of company stock worth $2,651,103 over the last quarter. Company insiders own 13.70% of the company’s stock.

Institutional Trading of enGene

Several hedge funds have recently modified their holdings of the company. Wolverine Asset Management LLC bought a new stake in enGene during the 3rd quarter worth approximately $37,000. Point72 Asset Management L.P. grew its holdings in shares of enGene by 1,410.3% during the third 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 during the last quarter. SR One Capital Management LP acquired a new stake in shares of enGene in the second quarter valued at $4,715,000. Franklin Resources Inc. raised its holdings in shares of 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 buying an additional 389,918 shares during the last quarter. Finally, Logos Global Management LP raised its stake in shares of enGene by 50.0% in the second 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 during the last quarter. Institutional investors and hedge funds own 64.16% of the company’s stock.

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.