enGene Holdings Inc. (NASDAQ:ENGN) Given Average Recommendation of "Buy" by Analysts

Shares of enGene Holdings Inc. (NASDAQ:ENGN - Get Free Report) have earned a consensus rating of "Buy" from the eight ratings firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $23.29.

Several research analysts have recently weighed in on the stock. Morgan Stanley reduced their price target on shares of enGene from $37.00 to $34.00 and set an "overweight" rating for the company in a report on Tuesday, March 11th. Piper Sandler assumed coverage on shares of enGene in a research note on Tuesday, February 18th. They issued an "overweight" rating and a $26.00 price target for the company. HC Wainwright reissued a "buy" rating and issued a $25.00 price objective on shares of enGene in a research report on Tuesday, March 11th. JMP Securities reissued a "market outperform" rating and issued a $18.00 price objective on shares of enGene in a research report on Tuesday, April 29th. Finally, UBS Group downgraded shares of enGene from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $34.00 to $7.00 in a research note on Friday, February 14th.

enGene Trading Down 2.3%

Shares of ENGN traded down $0.09 on Friday, reaching $3.87. 24,541 shares of the company's stock were exchanged, compared to its average volume of 132,888. The stock has a market capitalization of $197.28 million, a P/E ratio of -6.67 and a beta of -0.36. The business has a 50 day moving average price of $3.97 and a two-hundred day moving average price of $5.79. The company has a current ratio of 16.87, a quick ratio of 16.87 and a debt-to-equity ratio of 0.08. enGene has a 12 month low of $2.65 and a 12 month high of $12.00.

Hedge Funds Weigh In On enGene

Large investors have recently modified their holdings of the company. Adage Capital Partners GP L.L.C. grew its stake in shares of enGene by 2.7% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,571,642 shares of the company's stock worth $7,041,000 after acquiring an additional 41,874 shares during the last quarter. ADAR1 Capital Management LLC purchased a new position in shares of enGene in the 1st quarter worth $107,000. MAI Capital Management increased its position in shares of enGene by 11.0% during the 1st quarter. MAI Capital Management now owns 78,067 shares of the company's stock valued at $350,000 after purchasing an additional 7,756 shares during the last quarter. Toronto Dominion Bank bought a new position in enGene in the fourth quarter worth approximately $97,000. Finally, VR Adviser LLC lifted its position in enGene by 41.5% during the fourth quarter. VR Adviser LLC now owns 5,046,414 shares of the company's stock valued at $33,559,000 after purchasing an additional 1,480,573 shares in the last quarter. 64.16% of the stock is owned by hedge funds and other institutional investors.

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.