enGene (NASDAQ:ENGN) Insider Acquires $10,050.94 in Stock

Key Points

• Insider purchase: enGene insider William Grossman bought 5,102 shares at an average price of $1.97, investing $10,050.94. The purchase was disclosed in an SEC filing and represents his entire reported direct position.
• Weak performance and earnings miss: ENGN recently traded at $1.92 and has fallen substantially from its 12-month high of $12.25. The company reported a quarterly loss of $0.47 per share, missing analysts’ $0.43-loss estimate.
• Mixed analyst outlook: Analysts have issued four Buy, eight Hold, and two Sell ratings, resulting in a consensus rating of Hold. The consensus price target is $11.05, though recent targets include $3.00 from Morgan Stanley and $4.00 from HC Wainwright.

enGene Holdings Inc. (NASDAQ:ENGN - Get Free Report) insider William Grossman acquired 5,102 shares of the stock in a transaction that occurred on Tuesday, September 22nd. The stock was purchased at an average price of $1.97 per share, for a total transaction of $10,050.94. Following the completion of the purchase, the insider directly owned 5,102 shares in the company, valued at $10,050.94. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

enGene Stock Performance

NASDAQ ENGN traded down $0.08 during trading on Thursday, hitting $1.92. 794,213 shares of the company's stock traded hands, compared to its average volume of 984,493. The company has a debt-to-equity ratio of 0.11, a quick ratio of 10.21 and a current ratio of 10.21. The stock has a market capitalization of $128.67 million, a price-to-earnings ratio of -1.70 and a beta of -0.28. enGene Holdings Inc. has a 12-month low of $1.40 and a 12-month high of $12.25. The business has a 50 day moving average of $1.83 and a 200-day moving average of $3.44.

enGene (NASDAQ:ENGN - Get Free Report) last posted its earnings results on Tuesday, September 8th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.04). As a group, equities research analysts anticipate that enGene Holdings Inc. will post -1.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on ENGN. Citigroup reissued a "market perform" rating on shares of enGene in a report on Wednesday, September 9th. HC Wainwright reiterated a "buy" rating and issued a $4.00 price target on shares of enGene in a research report on Tuesday, September 8th. Weiss Ratings reiterated a "sell (e+)" rating on shares of enGene in a research note on Wednesday, August 12th. Morgan Stanley cut enGene from an "equal weight" rating to an "underweight" rating and set a $3.00 price objective on the stock. in a report on Thursday, June 18th. Finally, Citizens Jmp reaffirmed a "market perform" rating on shares of enGene in a report on Wednesday, September 9th. Four equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $11.05.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP purchased a new stake in shares of enGene in the first quarter worth $251,000. Sei Investments Co. purchased a new position in enGene during the first quarter worth about $409,000. Renaissance Technologies LLC grew its position in enGene by 651.1% during the first quarter. Renaissance Technologies LLC now owns 156,100 shares of the company's stock worth $1,063,000 after buying an additional 135,318 shares in the last quarter. Elmind Capital LP bought a new position in enGene in the 4th quarter worth about $1,896,000. Finally, Monashee Investment Management LLC bought a new position in enGene in the 4th quarter worth about $2,664,000. 64.16% of the stock is currently 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.

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