enGene (NASDAQ:ENGN) Earns Outperform Rating from Analysts at Raymond James

Raymond James began coverage on shares of enGene (NASDAQ:ENGN) in a report published on Wednesday morning, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $23.00 price objective on the stock.

A number of other research analysts have also weighed in on the company. Citizens Jmp raised enGene to a “strong-buy” rating in a report on Monday, November 18th. Oppenheimer reiterated an “outperform” rating and issued a $30.00 price target on shares of enGene in a report on Tuesday, September 24th. Morgan Stanley restated an “overweight” rating and set a $40.00 price objective on shares of enGene in a research note on Wednesday, September 11th. Finally, JMP Securities began coverage on shares of enGene in a report on Monday, November 18th. They issued an “outperform” rating and a $18.00 price objective on the stock. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $30.38.

enGene Stock Performance

ENGN opened at $8.65 on Wednesday. The firm’s 50-day moving average price is $7.90 and its 200-day moving average price is $8.28. 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 52-week low of $4.42 and a 52-week high of $18.40.

enGene (NASDAQ:ENGN) last issued its quarterly earnings results on Tuesday, September 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.05. 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 acquired 10,000 shares of the company’s stock in a transaction on Friday, September 27th. The shares were bought at an average cost of $5.70 per share, with a total value of $57,000.00. Following the completion of the acquisition, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Growth Opportunities F. Forbion acquired 11,844 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was acquired at an average price of $6.55 per share, with a total value of $77,578.20. Following the completion of the transaction, the insider now directly owns 2,469,833 shares of the company’s stock, valued at approximately $16,177,406.15. This represents a 0.48 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 420,965 shares of company stock worth $2,651,103 in the last three months. Company insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ENGN. Wolverine Asset Management LLC acquired a new position in enGene during the third quarter worth $37,000. Franklin Resources Inc. increased its stake in shares of enGene by 48.7% during the third quarter. Franklin Resources Inc. now owns 1,189,952 shares of the company’s stock worth $7,854,000 after purchasing an additional 389,918 shares in the last quarter. 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 worth $11,316,000 after purchasing an additional 400,000 shares during the last quarter. SR One Capital Management LP purchased a new position in enGene in the 2nd quarter valued at about $4,715,000. Finally, Point72 Asset Management L.P. boosted its holdings 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 during the last quarter. 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.