enGene (NASDAQ:ENGN) Shares Gap Down – What’s Next?

enGene Holdings Inc. (NASDAQ:ENGN) shares gapped down prior to trading on Monday . The stock had previously closed at $8.68, but opened at $8.06. enGene shares last traded at $7.67, with a volume of 351,577 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Morgan Stanley raised their target price 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. UBS Group boosted their price objective on enGene from $4.00 to $10.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. HC Wainwright reiterated a “buy” rating and set a $25.00 target price on shares of enGene in a research note on Monday. Raymond James Financial restated a “strong-buy” rating and issued a $27.00 price target on shares of enGene in a research note on Monday. Finally, Guggenheim reissued a “buy” rating on shares of enGene in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, enGene currently has an average rating of “Moderate Buy” and an average target price of $23.29.

enGene Price Performance

The firm has a market cap of $470.87 million, a price-to-earnings ratio of -3.12 and a beta of -0.29. The company has a current ratio of 6.30, a quick ratio of 6.30 and a debt-to-equity ratio of 0.09. The business’s 50-day simple moving average is $9.50 and its two-hundred day simple moving average is $8.11.

enGene (NASDAQ:ENGN) last issued its earnings results on Monday, March 9th. The company reported ($0.44) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.11. As a group, research analysts expect that enGene Holdings Inc. will post -1.56 EPS for the current fiscal year.

Institutional Trading of enGene

Several hedge funds have recently bought and sold shares of the business. Perceptive Advisors LLC lifted its stake in shares of enGene by 179.8% in the fourth quarter. Perceptive Advisors LLC now owns 5,869,076 shares of the company’s stock valued at $52,998,000 after buying an additional 3,771,840 shares in the last quarter. Siren L.L.C. purchased a new stake in shares of enGene in the fourth quarter valued at about $30,126,000. Braidwell LP bought a new position in shares of enGene during the third quarter valued at about $15,479,000. Janus Henderson Group PLC bought a new stake in enGene in the 4th quarter worth about $17,110,000. Finally, Cormorant Asset Management LP increased its stake in enGene by 72.1% in the 4th quarter. Cormorant Asset Management LP now owns 4,000,000 shares of the company’s stock valued at $36,120,000 after buying an additional 1,676,405 shares during the last quarter. Institutional investors and hedge funds own 64.16% of the company’s stock.

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.