enGene (NASDAQ:ENGN) Coverage Initiated by Analysts at JMP Securities

Equities research analysts at JMP Securities began coverage on shares of enGene (NASDAQ:ENGN) in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $18.00 price target on the stock. JMP Securities’ target price would suggest a potential upside of 135.91% from the company’s previous close.

ENGN has been the topic of a number of other reports. Morgan Stanley reiterated an “overweight” rating and issued a $40.00 target price on shares of enGene in a research report on Wednesday, September 11th. Oppenheimer reaffirmed an “outperform” rating and set a $30.00 target price on shares of enGene in a research note on Tuesday, September 24th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, enGene currently has a consensus rating of “Buy” and an average target price of $31.43.

enGene Trading Down 3.8 %

NASDAQ:ENGN opened at $7.63 on Monday. The stock has a 50-day simple moving average of $7.66 and a two-hundred day simple moving average of $8.71. enGene has a 52-week low of $4.42 and a 52-week high of $18.40. The company has a debt-to-equity ratio of 0.09, a current ratio of 19.52 and a quick ratio of 19.52.

enGene (NASDAQ:ENGN) last announced its quarterly earnings data on Tuesday, September 10th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.05. On average, sell-side analysts forecast that enGene will post -1.54 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Growth Opportunities F. Forbion bought 5,997 shares of enGene stock in a transaction that occurred on Friday, October 4th. The stock was bought at an average price of $6.54 per share, for a total transaction of $39,220.38. Following the purchase, the insider now directly owns 2,457,989 shares of the company’s stock, valued at approximately $16,075,248.06. The trade was a 0.24 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Ronald Harold Wilfred Cooper bought 10,000 shares of enGene stock in a transaction that occurred on Friday, September 27th. The stock was purchased at an average price of $5.70 per share, with a total value of $57,000.00. Following the purchase, the chief executive officer now directly owns 10,000 shares in the company, valued at $57,000. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 420,965 shares of company stock worth $2,651,103. Insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On enGene

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. grew its position in shares of enGene by 1,410.3% during the 3rd quarter. Point72 Asset Management L.P. now owns 663,000 shares of the company’s stock valued at $4,376,000 after acquiring an additional 619,100 shares during the period. Wolverine Asset Management LLC acquired a new stake in shares of enGene during the 3rd quarter valued at about $37,000. Logos Global Management LP grew its position in shares of enGene by 50.0% during the 2nd quarter. Logos Global Management LP now owns 1,200,000 shares of the company’s stock valued at $11,316,000 after acquiring an additional 400,000 shares during the period. SR One Capital Management LP acquired a new stake in shares of enGene during the 2nd quarter valued at about $4,715,000. Finally, Janus Henderson Group PLC acquired a new stake in shares of enGene during the 1st quarter valued at about $17,095,000. 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.