enGene (NASDAQ:ENGN) Given "Buy" Rating at HC Wainwright

Key Points

• enGene's stock has received a "buy" rating from HC Wainwright, with a target price of $25.00, suggesting a potential upside of 382.63% from its current price.
• The company's stock opened at $5.18 on Monday, with a market capitalization of $264.70 million and a notable debt-to-equity ratio of 0.09.
• Multiple hedge funds have increased their stakes in enGene recently, with institutional investors collectively owning 64.16% of the company's stock.

enGene (NASDAQ:ENGN - Get Free Report)'s stock had its "buy" rating reiterated by analysts at HC Wainwright in a research report issued on Monday,Benzinga reports. They currently have a $25.00 target price on the stock. HC Wainwright's price objective suggests a potential upside of 382.63% from the company's current price.

enGene Trading Up 3.6%

Shares of enGene stock opened at $5.18 on Monday. 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 business has a fifty day simple moving average of $3.92 and a two-hundred day simple moving average of $4.11. enGene has a 1 year low of $2.65 and a 1 year high of $11.00. The company has a market capitalization of $264.70 million, a price-to-earnings ratio of -3.14 and a beta of -0.40.

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

Hedge Funds Weigh In On enGene

Several institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC bought a new position in shares of enGene during the fourth quarter worth approximately $93,000. Cubist Systematic Strategies LLC lifted its holdings in shares of enGene by 15.7% during the fourth quarter. Cubist Systematic Strategies LLC now owns 15,342 shares of the company's stock worth $102,000 after buying an additional 2,080 shares in the last quarter. Orbimed Advisors LLC bought a new stake in shares of enGene in the fourth quarter valued at about $6,120,000. Point72 Asset Management L.P. boosted its position in shares of enGene by 84.7% in the fourth quarter. Point72 Asset Management L.P. now owns 1,224,797 shares of the company's stock valued at $8,145,000 after acquiring an additional 561,797 shares during the period. Finally, Sphera Funds Management LTD. acquired a new position in shares of enGene in the fourth quarter valued at about $3,724,000. Institutional investors and hedge funds 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.

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