enGene’s (ENGN) “Market Outperform” Rating Reiterated at JMP Securities

enGene (NASDAQ:ENGN)‘s stock had its “market outperform” rating reaffirmed by investment analysts at JMP Securities in a research note issued on Tuesday,Benzinga reports. They currently have a $18.00 price target on the stock. JMP Securities’ price target suggests a potential upside of 334.78% from the company’s current price.

Other equities analysts have also issued reports about the stock. Morgan Stanley cut their price objective on shares of enGene from $37.00 to $34.00 and set an “overweight” rating on the stock in a report on Tuesday, March 11th. HC Wainwright reissued a “buy” rating and set a $25.00 price objective on shares of enGene in a report on Tuesday, March 11th. UBS Group lowered shares of enGene from a “buy” rating to a “neutral” rating and cut their price objective for the company from $34.00 to $7.00 in a report on Friday, February 14th. Finally, Piper Sandler initiated coverage on shares of enGene in a report on Tuesday, February 18th. They set an “overweight” rating and a $26.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $23.29.

enGene Stock Performance

enGene stock opened at $4.14 on Tuesday. The company has a 50 day moving average price of $4.72 and a 200-day moving average price of $6.55. The company has a debt-to-equity ratio of 0.08, a quick ratio of 16.87 and a current ratio of 16.87. enGene has a fifty-two week low of $3.50 and a fifty-two week high of $16.25. The company has a market capitalization of $211.04 million, a PE ratio of -7.14 and a beta of -0.38.

Hedge Funds Weigh In On enGene

Institutional investors and hedge funds have recently bought and sold shares of the company. Vontobel Holding Ltd. purchased a new position in enGene in the fourth quarter worth $69,000. Jane Street Group LLC purchased a new position in enGene in the fourth quarter worth $93,000. Toronto Dominion Bank purchased a new stake in shares of enGene during the fourth quarter valued at $97,000. Cubist Systematic Strategies LLC grew its holdings in shares of enGene by 15.7% during the fourth quarter. Cubist Systematic Strategies LLC now owns 15,342 shares of the company’s stock valued at $102,000 after buying an additional 2,080 shares during the last quarter. Finally, Corton Capital Inc. purchased a new stake in shares of enGene during the fourth quarter valued at $157,000. 64.16% of the stock is owned by hedge funds and other institutional investors.

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.