Morgan Stanley Cuts enGene (NASDAQ:ENGN) Price Target to $18.00

Key Points

• Morgan Stanley has lowered its price target for enGene (NASDAQ:ENGN) from $19.00 to $18.00, while maintaining an "overweight" rating, suggesting a potential upside of 202.52%.
• HC Wainwright restated a "buy" rating for enGene with a price target of $25.00, while the consensus rating for the stock remains "Buy" with an average target price of $21.00.
• enGene's stock performance shows a current trading price of $5.95, with a market cap of $304.05 million, following a recent report of quarterly earnings missing the consensus estimate.

enGene (NASDAQ:ENGN - Free Report) had its price objective decreased by Morgan Stanley from $19.00 to $18.00 in a report issued on Friday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Separately, HC Wainwright restated a "buy" rating and issued a $25.00 price target on shares of enGene in a research report on Monday, September 8th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $21.00.

enGene Trading Up 7.4%

Shares of ENGN traded up $0.45 during midday trading on Friday, hitting $6.52. 597,879 shares of the stock were exchanged, compared to its average volume of 104,705. The firm has a market cap of $333.17 million, a P/E ratio of -3.43 and a beta of -0.39. The stock has a fifty day simple moving average of $4.21 and a 200 day simple moving average of $4.12. enGene has a 52-week low of $2.65 and a 52-week high of $11.00. The company has a debt-to-equity ratio of 0.09, a quick ratio of 10.34 and a current ratio of 10.34.

enGene (NASDAQ:ENGN - Get Free Report) last posted its quarterly earnings results on Thursday, September 11th. The company reported ($0.57) earnings per share for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.06). On average, research analysts anticipate that enGene will post -1.56 EPS for the current fiscal year.

Institutional Trading of enGene

Several large investors have recently added to or reduced their stakes in the stock. VR Adviser LLC grew its stake in shares of enGene by 41.5% during the fourth quarter. VR Adviser LLC now owns 5,046,414 shares of the company's stock valued at $33,559,000 after acquiring an additional 1,480,573 shares in the last quarter. Point72 Asset Management L.P. grew its stake in shares of enGene by 84.7% during the fourth quarter. Point72 Asset Management L.P. now owns 1,224,797 shares of the company's stock valued at $8,145,000 after acquiring an additional 561,797 shares in the last quarter. Sphera Funds Management LTD. acquired a new stake in shares of enGene during the fourth quarter valued at about $3,724,000. Vestal Point Capital LP acquired a new stake in shares of enGene during the fourth quarter valued at about $2,460,000. Finally, Affinity Asset Advisors LLC acquired a new stake in shares of enGene during the second quarter valued at about $280,000. 64.16% of the stock is currently owned by institutional investors and hedge funds.

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.