Wall Street Zen Downgrades enGene (NASDAQ:ENGN) to Sell

Key Points

• Wall Street Zen downgraded enGene (NASDAQ:ENGN) from a "hold" to a "sell."
• Despite the downgrade, the analyst consensus is a Moderate Buy with an average price target of $22.69 and most firms rating the stock as Buy or Strong Buy.
• Institutions own 64.16% of enGene, with large stakes added by Perceptive Advisors and Cormorant; the stock trades around $8.07 with a market cap of about $540.6M and a recent quarterly EPS of ($0.44) that beat estimates.

enGene (NASDAQ:ENGN - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday.

Several other analysts have also commented on the stock. Citigroup reissued a "market outperform" rating on shares of enGene in a research note on Monday, January 5th. HC Wainwright restated a "buy" rating and issued a $25.00 price target on shares of enGene in a research report on Monday, March 9th. Guggenheim restated a "buy" rating on shares of enGene in a research report on Tuesday, March 10th. Raymond James Financial restated a "strong-buy" rating and issued a $27.00 price target on shares of enGene in a research report on Monday, March 9th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of enGene in a research report on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $22.69.

enGene Stock Down 0.1%

ENGN stock opened at $8.07 on Friday. enGene has a 12 month low of $2.65 and a 12 month high of $12.25. The firm has a market cap of $540.61 million, a PE ratio of -3.59 and a beta of -0.06. The firm has a 50 day simple moving average of $8.21 and a 200 day simple moving average of $8.36. The company has a debt-to-equity ratio of 0.09, a current ratio of 11.75 and a quick ratio of 11.75.

enGene (NASDAQ:ENGN - Get Free Report) last released its earnings results on Monday, March 9th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.11. Equities research analysts forecast that enGene will post -1.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On enGene

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Perceptive Advisors LLC lifted its position in enGene by 179.8% in the 4th quarter. Perceptive Advisors LLC now owns 5,869,076 shares of the company's stock worth $52,998,000 after buying an additional 3,771,840 shares in the last quarter. Cormorant Asset Management LP lifted its position in enGene by 72.1% in the 4th quarter. Cormorant Asset Management LP now owns 4,000,000 shares of the company's stock worth $36,120,000 after buying an additional 1,676,405 shares in the last quarter. Blue Owl Capital Holdings LP lifted its position in enGene by 2.5% in the 4th quarter. Blue Owl Capital Holdings LP now owns 3,360,937 shares of the company's stock worth $30,349,000 after buying an additional 82,831 shares in the last quarter. Siren L.L.C. purchased a new stake in enGene in the 4th quarter worth approximately $30,126,000. Finally, Braidwell LP lifted its position in enGene by 38.2% in the 4th quarter. Braidwell LP now owns 3,131,319 shares of the company's stock worth $28,276,000 after buying an additional 865,000 shares in 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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