enGene Holdings Inc. (NASDAQ:ENGN) Receives Average Rating of "Buy" from Brokerages

Key Points

• enGene Holdings Inc. has received a consensus recommendation of "Buy" from eight brokerages, with an average 12-month target price of $23.29.
• Several institutional investors, including Jane Street Group and Toronto Dominion Bank, have recently initiated positions in enGene, contributing to a total institutional ownership of 64.16%.
• enGene's recent quarterly earnings report indicated a loss of ($0.51) per share, missing analysts' expectations, while their lead product candidate targets bladder cancer treatment.

enGene Holdings Inc. (NASDAQ:ENGN - Get Free Report) has received an average recommendation of "Buy" from the eight research firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $23.2857.

Separately, JMP Securities reiterated a "market outperform" rating and issued a $18.00 target price on shares of enGene in a research report on Tuesday, April 29th.

enGene Stock Performance

ENGN stock traded up $0.07 on Wednesday, reaching $3.68. The company's stock had a trading volume of 31,379 shares, compared to its average volume of 86,523. enGene has a 52 week low of $2.65 and a 52 week high of $11.00. The company has a debt-to-equity ratio of 0.09, a current ratio of 12.66 and a quick ratio of 12.66. The company has a market capitalization of $188.05 million, a P/E ratio of -2.23 and a beta of -0.41. The firm has a fifty day moving average of $3.57 and a two-hundred day moving average of $4.38.

enGene (NASDAQ:ENGN - Get Free Report) last released its quarterly earnings results on Tuesday, June 10th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.03). As a group, analysts predict that enGene will post -1.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Deep Track Capital LP boosted its position in shares of enGene by 74.8% during the 4th quarter. Deep Track Capital LP now owns 4,557,575 shares of the company's stock valued at $30,308,000 after purchasing an additional 1,949,942 shares in the last quarter. VR Adviser LLC raised its holdings in shares of enGene by 41.5% in the 4th quarter. VR Adviser LLC now owns 5,046,414 shares of the company's stock worth $33,559,000 after purchasing an additional 1,480,573 shares in the last quarter. Fcpm Iii Services B.V. lifted its stake in enGene by 11.0% during the fourth quarter. Fcpm Iii Services B.V. now owns 9,632,561 shares of the company's stock valued at $64,057,000 after purchasing an additional 954,610 shares during the last quarter. Orbimed Advisors LLC bought a new stake in enGene during the fourth quarter worth approximately $6,120,000. Finally, Point72 Asset Management L.P. boosted its holdings in enGene by 84.7% during the fourth quarter. Point72 Asset Management L.P. now owns 1,224,797 shares of the company's stock worth $8,145,000 after buying an additional 561,797 shares in the last quarter. 64.16% of the stock is owned by institutional investors and hedge funds.

enGene Company Profile

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.