enGene (NASDAQ:ENGN) Upgraded to “Sell” at Wall Street Zen

Wall Street Zen upgraded shares of enGene (NASDAQ:ENGN) from a strong sell rating to a sell rating in a research report sent to investors on Saturday morning.

A number of other research firms have also recently weighed in on ENGN. Citizens Jmp cut shares of enGene from an “outperform” rating to a “market perform” rating in a research note on Friday, May 8th. Morgan Stanley cut enGene from an “equal weight” rating to an “underweight” rating and set a $3.00 price target for the company. in a research note on Thursday, June 18th. HC Wainwright cut their price objective on enGene from $6.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, June 16th. Wells Fargo & Company reissued an “equal weight” rating and set a $2.00 price objective (down from $25.00) on shares of enGene in a report on Friday, May 8th. Finally, Piper Sandler lowered enGene from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $7.00 to $4.00 in a research report on Friday, May 8th. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, enGene currently has an average rating of “Hold” and an average price target of $11.05.

enGene Trading Up 0.6%

ENGN opened at $1.70 on Friday. The company’s 50 day moving average is $1.78 and its 200-day moving average is $5.06. enGene has a 1-year low of $1.40 and a 1-year high of $12.25. The company has a current ratio of 12.57, a quick ratio of 12.57 and a debt-to-equity ratio of 0.10. The company has a market cap of $113.88 million, a P/E ratio of -0.78 and a beta of -0.28.

enGene (NASDAQ:ENGN) last announced its quarterly earnings results on Monday, June 15th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.05. During the same quarter in the prior year, the business earned $0.51 EPS. Equities research analysts predict that enGene will post -1.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On enGene

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC lifted its position in shares of enGene by 57.3% in the 3rd quarter. Millennium Management LLC now owns 20,502 shares of the company’s stock worth $140,000 after purchasing an additional 7,472 shares during the period. Raymond James Financial Inc. increased its position in shares of enGene by 383.6% during the third quarter. Raymond James Financial Inc. now owns 10,000 shares of the company’s stock worth $68,000 after buying an additional 7,932 shares during the period. Cresset Asset Management LLC acquired a new stake in shares of enGene during the second quarter worth $36,000. Paloma Partners Management Co bought a new position in enGene during the second quarter worth $38,000. Finally, Jump Financial LLC bought a new position in enGene during the fourth quarter worth $121,000. 64.16% of the stock is 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. The company was founded in 2023 and is based in Saint-Laurent, Canada.