enGene (NASDAQ:ENGN) Trading Down 3% - Time to Sell?

Key Points

• enGene Holdings Inc. shares experienced a 3% drop in mid-day trading, falling to $7.86, with trading volume down 79% from average levels.
• Analysts have mixed ratings on enGene, with targets ranging from $18.00 to $25.00 and an average consensus price target of $19.50.
• The company reported a quarterly earnings miss, with an EPS of ($0.57), below the consensus estimate of ($0.51), and is projected to post ($1.56) EPS for the current fiscal year.

enGene Holdings Inc. (NASDAQ:ENGN - Get Free Report) shares fell 3% during mid-day trading on Thursday . The stock traded as low as $7.70 and last traded at $7.86. 79,916 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 372,715 shares. The stock had previously closed at $8.10.

Analyst Ratings Changes

Several research firms have issued reports on ENGN. Morgan Stanley cut their target price on enGene from $19.00 to $18.00 and set an "overweight" rating on the stock in a research note on Friday, September 12th. HC Wainwright reissued a "buy" rating and issued a $25.00 price target on shares of enGene in a report on Monday, September 8th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of enGene in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, enGene currently has an average rating of "Moderate Buy" and a consensus price target of $19.50.

enGene Price Performance

The firm has a market capitalization of $402.35 million, a PE ratio of -4.14 and a beta of -0.27. The stock has a 50-day moving average price of $6.38 and a 200 day moving average price of $4.63. The company has a quick ratio of 10.34, a current ratio of 10.34 and a debt-to-equity ratio of 0.09.

enGene (NASDAQ:ENGN - Get Free Report) last issued its quarterly earnings results on Thursday, September 11th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.06). Equities analysts forecast that enGene Holdings Inc. will post -1.56 EPS for the current fiscal year.

Hedge Funds Weigh In On enGene

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MAI Capital Management boosted its stake in enGene by 11.0% during the first quarter. MAI Capital Management now owns 78,067 shares of the company's stock worth $350,000 after buying an additional 7,756 shares during the last quarter. PFS Partners LLC acquired a new position in shares of enGene in the 3rd quarter valued at $61,000. Cresset Asset Management LLC acquired a new position in shares of enGene in the 2nd quarter valued at $36,000. Paloma Partners Management Co acquired a new position in shares of enGene in the 2nd quarter valued at $38,000. Finally, ADAR1 Capital Management LLC acquired a new position in shares of enGene in the 1st quarter valued at $107,000. 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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