enGene (NASDAQ:ENGN) Reaches New 52-Week Low - Time to Sell?

Key Points

• The stock hit a new 52-week low of $1.70 (last traded $1.72) on heavy volume (~23.9M shares), down sharply from the prior close of $8.85.
• Wall Street consensus is a Moderate Buy with an average price target of $22.69—well above the current price—though individual analyst opinions are mixed.
• Fundamentals show strong liquidity (quick/current ratio 11.75) and low leverage (debt/equity 0.09) with heavy institutional ownership (64.16%), but the company remains unprofitable (Q1 EPS -$0.44; FY estimate -2.06 EPS).

enGene Holdings Inc. (NASDAQ:ENGN - Get Free Report)'s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as $1.70 and last traded at $1.72, with a volume of 23894678 shares trading hands. The stock had previously closed at $8.85.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ENGN. Oppenheimer lowered their price objective on shares of enGene from $33.00 to $30.00 and set an "outperform" rating for the company in a research note on Wednesday, March 11th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of enGene in a research note on Wednesday, April 8th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $27.00 price objective on shares of enGene in a research note on Monday, March 9th. Jefferies Financial Group started coverage on shares of enGene in a research note on Friday, January 30th. They set a "buy" rating and a $28.00 price objective for the company. Finally, WBB Securities started coverage on shares of enGene in a research report on Monday, April 13th. They set a "buy" rating and a $21.50 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, enGene presently has a consensus rating of "Moderate Buy" and an average price target of $22.69.

enGene Stock Performance

The company has a quick ratio of 11.75, a current ratio of 11.75 and a debt-to-equity ratio of 0.09. The stock's fifty day simple moving average is $7.60 and its two-hundred day simple moving average is $8.30.

enGene (NASDAQ:ENGN - Get Free Report) last announced its quarterly earnings data on Monday, March 9th. The company reported ($0.44) earnings per share for the quarter, topping analysts' consensus estimates of ($0.55) by $0.11. As a group, equities analysts predict that enGene Holdings Inc. will post -2.06 earnings per share for the current year.

Institutional Investors Weigh In On enGene

A number of hedge funds and other institutional investors have recently bought and sold shares of ENGN. Perceptive Advisors LLC grew its holdings in enGene by 179.8% in 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 during the period. Siren L.L.C. purchased a new stake in shares of enGene during the fourth quarter valued at approximately $30,126,000. Braidwell LP purchased a new stake in shares of enGene during the third quarter valued at approximately $15,479,000. Janus Henderson Group PLC purchased a new stake in shares of enGene during the fourth quarter valued at approximately $17,110,000. Finally, Cormorant Asset Management LP grew its holdings in shares of enGene by 72.1% during the fourth quarter. Cormorant Asset Management LP now owns 4,000,000 shares of the company's stock valued at $36,120,000 after buying an additional 1,676,405 shares during 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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