enGene's (ENGN) "Buy" Rating Reaffirmed at HC Wainwright

Key Points

• HC Wainwright reaffirmed a "Buy" on enGene with a $25.00 price target, implying roughly 228.95% upside, and the analyst consensus averages a $23.29 target with a "Moderate Buy" rating.
• Shares fell about 12.4% to $7.60 on Monday (market cap ≈ $509M) after the company reported a Q4 loss of ($0.73) per share, missing estimates and with analysts forecasting roughly -1.56 EPS for the year.
• Large institutional buying has accelerated—led by Perceptive Advisors, Siren, Cormorant and others—leaving institutions with about 64.16% ownership of the stock.

enGene (NASDAQ:ENGN - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at HC Wainwright in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $25.00 price target on the stock. HC Wainwright's price target would indicate a potential upside of 228.95% from the stock's previous close.

Several other research firms also recently commented on ENGN. Citigroup reaffirmed a "market outperform" rating on shares of enGene in a research note on Monday, January 5th. Morgan Stanley increased their price objective on shares of enGene from $18.00 to $19.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 12th. Citizens Jmp upped their price objective on enGene from $18.00 to $21.00 and gave the stock a "market outperform" rating in a research report on Wednesday, November 12th. Weiss Ratings reissued a "sell (d-)" rating on shares of enGene in a research note on Friday, January 9th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating on shares of enGene in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $23.29.

enGene Trading Down 12.4%

NASDAQ:ENGN traded down $1.08 during mid-day trading on Monday, reaching $7.60. 476,890 shares of the company's stock traded hands, compared to its average volume of 336,012. The firm has a market capitalization of $509.12 million, a price-to-earnings ratio of -3.32 and a beta of -0.29. enGene has a 12-month low of $2.65 and a 12-month high of $12.25. The company has a 50 day moving average price of $9.58 and a 200-day moving average price of $8.07. The company has a debt-to-equity ratio of 0.09, a current ratio of 6.30 and a quick ratio of 6.30.

enGene (NASDAQ:ENGN - Get Free Report) last announced its earnings results on Monday, December 22nd. The company reported ($0.73) earnings per share for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.18). On average, sell-side analysts predict that enGene will post -1.56 earnings per share for the current year.

Institutional Investors Weigh In On enGene

A number of hedge funds have recently bought and sold shares of the company. Perceptive Advisors LLC boosted its position in enGene by 179.8% during the fourth quarter. Perceptive Advisors LLC now owns 5,869,076 shares of the company's stock valued at $52,998,000 after purchasing an additional 3,771,840 shares during the last quarter. Siren L.L.C. acquired a new stake in enGene in the 4th quarter worth about $30,126,000. Braidwell LP acquired a new stake in shares of enGene in the third quarter valued at approximately $15,479,000. Janus Henderson Group PLC acquired a new position in enGene in the 4th quarter valued at $17,110,000. Finally, Cormorant Asset Management LP lifted its position 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 purchasing an additional 1,676,405 shares during the period. 64.16% of the stock is currently owned by institutional investors.

About enGene

enGene, Inc is a clinical‐stage biopharmaceutical company focused on the development of gene‐based therapeutics for oncology. The company’s core technology is the EnGene Delivery Vehicle (EDV) platform, which employs nonliving, bacterially derived minicells to transport therapeutic payloads directly to tumor cells. By combining targeted delivery with potent payloads, enGene aims to improve the precision and efficacy of cancer treatments while reducing off‐target toxicity.

Through its EDV platform, enGene has advanced multiple therapeutic candidates into preclinical and clinical stages.

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