enGene (NASDAQ:ENGN) Downgraded by Leerink Partners to "Market Perform"

Key Points

• Leerink Partners downgraded enGene from "outperform" to "market perform" and set a $2.00 price target, implying roughly a 16.3% upside from the current price.
• Several other brokerages also cut ratings this week (Guggenheim, Morgan Stanley, Raymond James, Citi, Wells Fargo), leaving an average analyst rating of Hold and an average target price of $13.41.
• Trading down 80.6% — ENGN opened at $1.72 (12‑month low $1.70, high $12.25) with a market cap around $115M, and institutional investors now own about 64.16% of the shares after large stake increases by Perceptive Advisors and others.

enGene (NASDAQ:ENGN - Get Free Report) was downgraded by research analysts at Leerink Partners from an "outperform" rating to a "market perform" rating in a report released on Friday. They presently have a $2.00 price target on the stock. Leerink Partners' price objective indicates a potential upside of 16.28% from the stock's current price.

Several other research firms have also commented on ENGN. Guggenheim lowered shares of enGene from a "buy" rating to a "neutral" rating in a research report on Thursday. Morgan Stanley cut enGene from an "overweight" rating to an "equal weight" rating in a research note on Friday. Raymond James Financial lowered enGene from a "strong-buy" rating to an "outperform" rating and set a $4.00 price target on the stock. in a research note on Friday. Wells Fargo & Company reiterated an "equal weight" rating and set a $2.00 price target (down from $25.00) on shares of enGene in a report on Friday. Finally, Citigroup downgraded enGene from a "market outperform" rating to a "market perform" rating in a research report on Friday. Four analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, enGene has an average rating of "Hold" and an average target price of $13.41.

enGene Trading Down 80.6%

Shares of ENGN opened at $1.72 on Friday. enGene has a 12-month low of $1.70 and a 12-month high of $12.25. The firm has a market capitalization of $115.21 million, a P/E ratio of -0.76 and a beta of -0.02. The firm has a 50-day moving average price of $7.60 and a 200 day moving average price of $8.30. The company has a current ratio of 11.75, a quick ratio of 11.75 and a debt-to-equity ratio of 0.09.

enGene (NASDAQ:ENGN - Get Free Report) last posted its earnings results on Monday, March 9th. The company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.11. Sell-side analysts forecast that enGene will post -2.06 EPS for the current year.

Institutional Trading of enGene

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ENGN. Perceptive Advisors LLC lifted its stake in enGene by 179.8% during the fourth quarter. Perceptive Advisors LLC now owns 5,869,076 shares of the company's stock worth $52,998,000 after purchasing an additional 3,771,840 shares in the last quarter. Siren L.L.C. acquired a new position in enGene during the 4th quarter worth about $30,126,000. Braidwell LP acquired a new position in enGene during the 3rd quarter worth about $15,479,000. Janus Henderson Group PLC purchased a new position in enGene during the 4th quarter valued at about $17,110,000. Finally, Cormorant Asset Management LP grew its position in enGene by 72.1% in the 4th quarter. Cormorant Asset Management LP now owns 4,000,000 shares of the company's stock valued at $36,120,000 after acquiring an additional 1,676,405 shares in the last quarter. Hedge funds and other institutional investors own 64.16% of the company's stock.

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

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