enGene (NASDAQ:ENGN) Trading Down 5.7% – Should You Sell?

enGene Holdings Inc. (NASDAQ:ENGN)’s share price fell 5.7% during mid-day trading on Wednesday . The stock traded as low as $10.59 and last traded at $10.48. 22,553 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 437,491 shares. The stock had previously closed at $11.11.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ENGN shares. Citigroup reaffirmed a “market outperform” rating on shares of enGene in a research report on Monday, January 5th. Raymond James Financial upgraded enGene from an “outperform” rating to a “strong-buy” rating and set a $27.00 price objective on the stock in a report on Tuesday, November 11th. UBS Group boosted their target price on enGene from $4.00 to $10.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Citizens Jmp raised their price target on enGene from $18.00 to $21.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 12th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $33.00 target price (up previously from $30.00) on shares of enGene in a research report on Wednesday, November 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.38.

enGene Stock Down 8.6%

The company has a debt-to-equity ratio of 0.09, a current ratio of 6.30 and a quick ratio of 6.30. The company has a market cap of $680.15 million, a P/E ratio of -4.42 and a beta of -0.29. The business’s 50 day moving average price is $8.70 and its 200-day moving average price is $6.87.

enGene (NASDAQ:ENGN) last released its quarterly earnings results on Monday, December 22nd. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.18). On average, analysts anticipate that enGene Holdings Inc. will post -1.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Cresset Asset Management LLC bought a new position in shares of enGene during the second quarter worth approximately $36,000. Paloma Partners Management Co bought a new stake in shares of enGene during the 2nd quarter valued at approximately $38,000. PFS Partners LLC bought a new stake in shares of enGene during the third quarter worth $61,000. Raymond James Financial Inc. increased its holdings in enGene by 383.6% in the 3rd quarter. Raymond James Financial Inc. now owns 10,000 shares of the company’s stock worth $68,000 after purchasing an additional 7,932 shares in the last quarter. Finally, Hudson Bay Capital Management LP bought a new position in enGene in the 3rd quarter valued at approximately $76,000. 64.16% of the stock is owned by institutional investors.

About enGene

enGene, Inc is a clinical?stage biopharmaceutical company focused on the development of gene?based therapeutics for oncology. The company’s core technology is the EnGene Delivery Vehicle (EDV) platform, which employs nonliving, bacterially derived minicells to transport therapeutic payloads directly to tumor cells. By combining targeted delivery with potent payloads, enGene aims to improve the precision and efficacy of cancer treatments while reducing off?target toxicity.

Through its EDV platform, enGene has advanced multiple therapeutic candidates into preclinical and clinical stages.