enGene (NASDAQ:ENGN) Coverage Initiated at Raymond James

Equities research analysts at Raymond James assumed coverage on shares of enGene (NASDAQ:ENGN) in a research report issued on Wednesday,Briefing.com Automated Import reports. The brokerage set an “outperform” rating and a $23.00 price target on the stock. Raymond James’ price objective points to a potential upside of 167.44% from the company’s current price.

A number of other brokerages have also recently commented on ENGN. Citizens Jmp upgraded shares of enGene to a “strong-buy” rating in a research report on Monday, November 18th. Oppenheimer reaffirmed an “outperform” rating and set a $30.00 price objective on shares of enGene in a research note on Tuesday, September 24th. Morgan Stanley reissued an “overweight” rating and issued a $40.00 target price on shares of enGene in a research note on Wednesday, September 11th. Finally, JMP Securities assumed coverage on enGene in a research report on Monday, November 18th. They issued an “outperform” rating and a $18.00 price target for the company. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $30.38.

enGene Price Performance

ENGN stock opened at $8.60 on Wednesday. enGene has a 12-month low of $4.42 and a 12-month high of $18.40. The business’s 50-day moving average is $7.82 and its 200 day moving average is $8.36. The company has a current ratio of 19.52, a quick ratio of 19.52 and a debt-to-equity ratio of 0.09.

enGene (NASDAQ:ENGN) last issued its quarterly earnings results on Tuesday, September 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.05. As a group, equities analysts expect that enGene will post -1.54 earnings per share for the current fiscal year.

Insider Transactions at enGene

In other enGene news, major shareholder Growth Opportunities F. Forbion purchased 41,639 shares of the stock in a transaction dated Friday, September 27th. The stock was acquired at an average cost of $5.97 per share, for a total transaction of $248,584.83. Following the acquisition, the insider now owns 2,059,459 shares in the company, valued at $12,294,970.23. This trade represents a 2.06 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ronald Harold Wilfred Cooper acquired 10,000 shares of enGene stock in a transaction that occurred on Friday, September 27th. The stock was bought at an average price of $5.70 per share, for a total transaction of $57,000.00. Following the completion of the acquisition, the chief executive officer now owns 10,000 shares in the company, valued at $57,000. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders bought 420,965 shares of company stock worth $2,651,103 in the last 90 days. Insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ENGN. Logos Global Management LP raised its holdings in shares of enGene by 50.0% in the 2nd quarter. Logos Global Management LP now owns 1,200,000 shares of the company’s stock valued at $11,316,000 after buying an additional 400,000 shares during the period. Janus Henderson Group PLC purchased a new stake in enGene during the first quarter worth about $17,095,000. Point72 Asset Management L.P. boosted its stake in shares of enGene by 1,410.3% in the third quarter. Point72 Asset Management L.P. now owns 663,000 shares of the company’s stock valued at $4,376,000 after purchasing an additional 619,100 shares during the period. SR One Capital Management LP acquired a new position in shares of enGene in the second quarter valued at approximately $4,715,000. Finally, Wolverine Asset Management LLC acquired a new position in shares of enGene in the third quarter valued at approximately $37,000. 64.16% of the stock is currently owned by hedge funds and other institutional investors.

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.