enGene (NASDAQ:ENGN) Earns Market Outperform Rating from JMP Securities

enGene (NASDAQ:ENGN)‘s stock had its “market outperform” rating reaffirmed by equities researchers at JMP Securities in a research note issued to investors on Monday,Benzinga reports. They currently have a $18.00 target price on the stock. JMP Securities’ price objective would suggest a potential upside of 184.81% from the company’s current price.

Other research analysts have also issued research reports about the company. Citizens Jmp upgraded enGene to a “strong-buy” rating in a research report on Monday, November 18th. HC Wainwright initiated coverage on enGene in a report on Monday. They set a “buy” rating and a $25.00 price target for the company. Morgan Stanley reaffirmed an “overweight” rating and set a $40.00 price objective on shares of enGene in a report on Wednesday, September 11th. Raymond James assumed coverage on shares of enGene in a report on Wednesday, November 27th. They issued an “outperform” rating and a $23.00 target price for the company. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $30.00 price target on shares of enGene in a research note on Tuesday, September 24th. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, enGene currently has a consensus rating of “Buy” and a consensus target price of $29.78.

enGene Stock Up 6.0 %

ENGN opened at $6.32 on Monday. 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 has a fifty-two week low of $4.42 and a fifty-two week high of $18.40. The firm’s fifty day moving average is $8.10 and its 200 day moving average is $7.78. The stock has a market cap of $279.45 million, a price-to-earnings ratio of -10.90 and a beta of -0.78.

enGene (NASDAQ:ENGN) last issued its earnings results on Thursday, December 19th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.06. On average, sell-side analysts forecast that enGene will post -1.52 earnings per share for the current fiscal year.

Insider Activity

In other enGene news, major shareholder Growth Opportunities F. Forbion bought 5,997 shares of the company’s stock in a transaction on Friday, October 4th. The shares were bought at an average cost of $6.54 per share, for a total transaction of $39,220.38. Following the acquisition, the insider now directly owns 2,457,989 shares in the company, valued at approximately $16,075,248.06. The trade was a 0.24 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ronald Harold Wilfred Cooper purchased 10,000 shares of enGene stock in a transaction dated Friday, September 27th. The stock was acquired at an average price of $5.70 per share, with a total value of $57,000.00. Following the acquisition, the chief executive officer now owns 10,000 shares in the company, valued at approximately $57,000. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 420,965 shares of company stock valued at $2,651,103. Corporate insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On enGene

Several institutional investors have recently bought and sold shares of ENGN. Wolverine Asset Management LLC bought a new position in shares of enGene in the 3rd quarter worth $37,000. Franklin Resources Inc. grew its stake 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 purchasing an additional 389,918 shares during the last quarter. Logos Global Management LP raised its holdings in 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 purchasing an additional 400,000 shares in the last quarter. SR One Capital Management LP purchased a new stake in shares of enGene during the second quarter valued at about $4,715,000. Finally, 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. 64.16% of the stock is owned by hedge funds and other institutional investors.

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.