enGene (NASDAQ:ENGN) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen downgraded shares of enGene (NASDAQ:ENGN) from a sell rating to a strong sell rating in a research note published on Saturday.

Other equities analysts have also recently issued reports about the company. Guggenheim cut enGene from a “buy” rating to a “neutral” rating in a report on Thursday, May 7th. Raymond James Financial lowered enGene from a “strong-buy” rating to an “outperform” rating and set a $4.00 target price for the company. in a research note on Friday, May 8th. Oppenheimer cut shares of enGene from an “outperform” rating to a “market perform” rating in a research report on Friday, May 8th. WBB Securities began coverage on shares of enGene in a research note on Monday, April 13th. They set a “buy” rating and a $21.50 price target on the stock. Finally, UBS Group lowered their price objective on shares of enGene from $9.00 to $2.00 and set a “neutral” rating for the company in a report on Thursday, May 14th. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.05.

enGene Stock Down 3.3%

Shares of NASDAQ:ENGN opened at $1.76 on Friday. The firm has a market capitalization of $117.89 million, a PE ratio of -0.81 and a beta of -0.28. The company has a debt-to-equity ratio of 0.10, a quick ratio of 12.57 and a current ratio of 12.57. enGene has a 52-week low of $1.40 and a 52-week high of $12.25. The firm has a fifty day moving average of $1.76 and a 200 day moving average of $5.77.

enGene (NASDAQ:ENGN) last released its quarterly earnings results on Monday, June 15th. The company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.05. During the same period in the previous year, the company posted $0.51 EPS. As a group, research analysts anticipate that enGene will post -1.84 EPS for the current fiscal year.

Institutional Investors Weigh In On enGene

Hedge funds and other institutional investors have recently modified their holdings of the stock. Perceptive Advisors LLC grew its position in enGene by 179.8% during the 4th quarter. Perceptive Advisors LLC now owns 5,869,076 shares of the company’s stock worth $52,998,000 after acquiring an additional 3,771,840 shares during the last quarter. Siren L.L.C. purchased a new position in enGene in the 4th quarter worth approximately $30,126,000. Janus Henderson Group PLC bought a new stake in enGene in the fourth quarter valued at approximately $17,110,000. Cormorant Asset Management LP lifted its position in enGene by 72.1% in the fourth quarter. Cormorant Asset Management LP now owns 4,000,000 shares of the company’s stock valued at $36,120,000 after purchasing an additional 1,676,405 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of enGene by 7,214.0% during the fourth quarter. Millennium Management LLC now owns 1,499,520 shares of the company’s stock valued at $13,541,000 after purchasing an additional 1,479,018 shares during the period. 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. The company was founded in 2023 and is based in Saint-Laurent, Canada.