enGene (NASDAQ:ENGN) Downgraded to "Strong Sell" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded enGene from “sell” to “strong sell,” adding to a wave of negative analyst actions on the stock.
• Recent broker updates have been mixed but mostly cautious: Raymond James, Wells Fargo, Citizens JMP and Weiss Ratings all cut their views, while the overall consensus rating now stands at Hold with an average price target of $11.05.
• Shares fell 3.7% to $1.82, well below the stock’s 52-week high of $12.25, even though enGene beat quarterly EPS estimates and reported strong liquidity with a current ratio of 12.57.

enGene (NASDAQ:ENGN - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a note issued to investors on Saturday.

Other analysts also recently issued reports about the company. Raymond James Financial downgraded enGene from a "strong-buy" rating to an "outperform" rating and set a $4.00 price target for the company. in a report on Friday, May 8th. Weiss Ratings lowered enGene from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, May 15th. WBB Securities initiated coverage on enGene in a research note on Monday, April 13th. They set a "buy" rating and a $21.50 target price for the company. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $2.00 price target (down from $25.00) on shares of enGene in a report on Friday, May 8th. Finally, Citizens Jmp lowered shares of enGene from an "outperform" rating to a "market perform" rating in a research note on Friday, May 8th. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $11.05.

enGene Trading Down 3.7%

Shares of NASDAQ:ENGN opened at $1.82 on Friday. enGene has a 52 week low of $1.40 and a 52 week high of $12.25. The company's 50 day moving average is $1.76 and its two-hundred day moving average is $5.84. The company has a market cap of $121.91 million, a PE ratio of -0.84 and a beta of -0.28. The company has a current ratio of 12.57, a quick ratio of 12.57 and a debt-to-equity ratio of 0.10.

enGene (NASDAQ:ENGN - Get Free Report) last released its quarterly earnings data on Monday, June 15th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.05. During the same quarter in the previous year, the firm earned $0.51 EPS. Equities analysts predict that enGene will post -1.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Cresset Asset Management LLC purchased a new stake in enGene in the second quarter valued at approximately $36,000. Paloma Partners Management Co purchased a new position in shares of enGene during the second quarter worth approximately $38,000. Raymond James Financial Inc. increased its holdings in shares of enGene by 383.6% in the 3rd quarter. Raymond James Financial Inc. now owns 10,000 shares of the company's stock valued at $68,000 after acquiring an additional 7,932 shares during the period. PFS Partners LLC increased 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 acquiring an additional 2,000 shares during the period. Finally, Jump Financial LLC purchased a new stake in enGene in the 4th quarter valued at $121,000. Institutional investors and hedge funds 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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