enGene (NASDAQ:ENGN) Lowered to Market Perform Rating by Oppenheimer

Oppenheimer lowered shares of enGene (NASDAQ:ENGN) from an outperform rating to a market perform rating in a report published on Friday, Marketbeat.com reports.

A number of other analysts have also weighed in on the company. Citigroup lowered enGene from a “market outperform” rating to a “market perform” rating in a research note on Friday. Wells Fargo & Company restated an “equal weight” rating and issued a $2.00 price target (down from $25.00) on shares of enGene in a report on Friday. Wall Street Zen downgraded shares of enGene from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Raymond James Financial lowered shares of enGene from a “strong-buy” rating to an “outperform” rating and set a $4.00 price objective for the company. in a report on Friday. Finally, Piper Sandler downgraded shares of enGene from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $7.00 to $4.00 in a research note on Friday. Four equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, enGene presently has an average rating of “Hold” and an average price target of $13.41.

enGene Stock Down 12.8%

Shares of ENGN opened at $1.50 on Friday. enGene has a 52-week low of $1.45 and a 52-week high of $12.25. The company has a market cap of $100.49 million, a PE ratio of -0.67 and a beta of -0.02. The company has a quick ratio of 11.75, a current ratio of 11.75 and a debt-to-equity ratio of 0.09. The business has a fifty day moving average of $7.60 and a 200 day moving average of $8.30.

enGene (NASDAQ:ENGN) last posted its quarterly earnings data on Monday, March 9th. The company reported ($0.44) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.11. On average, sell-side analysts expect that enGene will post -2.06 EPS for the current year.

Hedge Funds Weigh In On enGene

Several institutional investors have recently made changes to their positions in the company. Cresset Asset Management LLC bought a new stake in shares of enGene in the second quarter valued at about $36,000. Paloma Partners Management Co bought a new position in enGene during the 2nd quarter worth about $38,000. Raymond James Financial Inc. increased its position in enGene by 383.6% during the 3rd quarter. Raymond James Financial Inc. now owns 10,000 shares of the company’s stock valued at $68,000 after purchasing an additional 7,932 shares during the period. Hudson Bay Capital Management LP bought a new stake in shares of enGene in the 3rd quarter valued at about $76,000. Finally, PFS Partners LLC raised its holdings in shares of enGene by 22.2% in the 4th quarter. PFS Partners LLC now owns 11,000 shares of the company’s stock valued at $99,000 after purchasing an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 64.16% of the company’s stock.

enGene News Summary

Here are the key news stories impacting enGene this week:

• Positive Sentiment: HC Wainwright kept a buy rating on enGene Holdings Inc. (ENGN), though it lowered its price target to $6.00 from $25.00, implying meaningful upside from the current share price. HC Wainwright lowers price target but keeps buy rating
• Neutral Sentiment: Citizens JMP reaffirmed its market perform rating on enGene Holdings Inc. (ENGN), signaling a neutral stance on the shares. Citizens JMP reaffirms market perform
• Negative Sentiment: Oppenheimer downgraded enGene Holdings Inc. (ENGN) from outperform to market perform, adding to concerns about near-term upside. Oppenheimer downgrades enGene
• Negative Sentiment: Morgan Stanley cut enGene Holdings Inc. (ENGN) from overweight to equal weight, another sign that analysts are becoming less constructive. Morgan Stanley downgrades enGene
• Negative Sentiment: Leerink Partners downgraded enGene Holdings Inc. (ENGN) from outperform to market perform and set a $2.00 price target, reinforcing a cautious outlook. Leerink Partners downgrades enGene
• Negative Sentiment: A shareholder investigation was announced by Johnson Fistel into potential claims involving enGene Holdings Inc. (ENGN), which can add legal overhang and uncertainty for investors. Shareholder investigation announcement

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. The company was founded in 2023 and is based in Saint-Laurent, Canada.