enGene (NASDAQ:ENGN) Raised to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen raised enGene’s rating from “strong sell” to “sell,” while other analysts recently downgraded the stock or cut price targets sharply. The broader consensus remains “Hold,” with a target price of $11.05.
• enGene shares opened at $1.70, near their 52-week low of $1.40 and well below the $12.25 high; the stock’s 200-day moving average is $5.06.
• The clinical-stage biotechnology company reported a quarterly loss of $0.43 per share, beating estimates for a $0.48 loss, but analysts expect a full-year loss of $1.84 per share. Hedge funds and other institutions own 64.16% of the stock.

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

Other equities analysts have also issued research reports about the company. UBS Group lowered their price target on enGene from $9.00 to $2.00 and set a "neutral" rating for the company in a research report on Thursday, May 14th. Wells Fargo & Company restated an "equal weight" rating and set a $2.00 price objective (down from $25.00) on shares of enGene in a research note on Friday, May 8th. Citizens Jmp downgraded shares of enGene from an "outperform" rating to a "market perform" rating in a research note on Friday, May 8th. Piper Sandler cut shares of enGene from an "overweight" rating to a "neutral" rating and cut their price target for the company from $7.00 to $4.00 in a report on Friday, May 8th. Finally, Leerink Partners downgraded enGene from an "outperform" rating to a "market perform" rating and set a $2.00 price objective for the company. in a report on Friday, May 8th. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $11.05.

enGene Stock Performance

Shares of ENGN opened at $1.70 on Friday. enGene has a 52 week low of $1.40 and a 52 week high of $12.25. The company has a quick ratio of 12.57, a current ratio of 12.57 and a debt-to-equity ratio of 0.10. The stock has a market cap of $113.87 million, a P/E ratio of -0.78 and a beta of -0.28. The business's 50 day moving average price is $1.78 and its 200-day moving average price is $5.06.

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

Institutional Trading of enGene

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Perceptive Advisors LLC increased its stake in enGene by 179.8% in the 4th quarter. Perceptive Advisors LLC now owns 5,869,076 shares of the company's stock worth $52,998,000 after buying an additional 3,771,840 shares in the last quarter. Siren L.L.C. increased its holdings in shares of enGene by 57.5% in the 1st quarter. Siren L.L.C. now owns 5,253,159 shares of the company's stock worth $35,774,000 after buying an additional 1,916,895 shares during the last quarter. Cormorant Asset Management LP increased its stake in enGene by 72.1% during the fourth quarter. Cormorant Asset Management LP now owns 4,000,000 shares of the company's stock worth $36,120,000 after acquiring an additional 1,676,405 shares during the last quarter. Blue Owl Capital Holdings LP increased its position in shares of enGene by 2.5% during the 4th quarter. Blue Owl Capital Holdings LP now owns 3,360,937 shares of the company's stock valued at $30,349,000 after purchasing an additional 82,831 shares during the last quarter. Finally, Braidwell LP increased its position in enGene by 38.2% during the fourth quarter. Braidwell LP now owns 3,131,319 shares of the company's stock valued at $28,276,000 after acquiring an additional 865,000 shares during 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. The company was founded in 2023 and is based in Saint-Laurent, Canada.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source