enGene (NASDAQ:ENGN) Downgraded by Wall Street Zen to “Strong Sell”

enGene (NASDAQ:ENGN) was downgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Saturday.

Other equities analysts have also issued reports about the stock. UBS Group lowered their price objective on shares of enGene from $9.00 to $2.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. Oppenheimer cut shares of enGene from an “outperform” rating to a “market perform” rating in a research note on Friday, May 8th. Citigroup cut shares of enGene from a “market outperform” rating to a “market perform” rating in a research note on Friday, May 8th. Wells Fargo & Company reiterated an “equal weight” rating and set a $2.00 price target (down from $25.00) on shares of enGene in a research note on Friday, May 8th. Finally, WBB Securities initiated coverage on shares of enGene in a report on Monday, April 13th. They set a “buy” rating and a $21.50 price target for the company. Four investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.05.

enGene Stock Performance

Shares of ENGN stock opened at $1.82 on Friday. The stock has a market capitalization of $121.91 million, a PE ratio of -0.84 and a beta of -0.28. enGene has a 52-week low of $1.40 and a 52-week high of $12.25. The stock’s 50-day moving average price is $1.76 and its 200 day moving average price is $5.84. The company has a quick ratio of 12.57, a current ratio of 12.57 and a debt-to-equity ratio of 0.10.

enGene (NASDAQ:ENGN) last announced its earnings results on Monday, June 15th. The company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.05. During the same period in the previous year, the company earned $0.51 earnings per share. As a group, equities research analysts forecast that enGene will post -1.84 EPS for the current year.

Institutional Investors Weigh In On enGene

A number of hedge funds and other institutional investors have recently bought and sold shares of ENGN. Privium Fund Management B.V. acquired a new position in shares of enGene during the 4th quarter worth $3,179,000. Siren L.L.C. lifted its stake in shares of enGene by 57.5% in the first quarter. Siren L.L.C. now owns 5,253,159 shares of the company’s stock valued at $35,774,000 after purchasing an additional 1,916,895 shares during the period. 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 purchasing an additional 3,771,840 shares during the period. Eventide Asset Management LLC purchased a new stake in enGene during the fourth quarter worth about $8,578,000. Finally, Omega Fund Management LLC boosted its holdings in enGene by 66.5% during the fourth quarter. Omega Fund Management LLC now owns 876,357 shares of the company’s stock worth $7,914,000 after buying an additional 350,000 shares in the last quarter. Institutional investors and hedge funds own 64.16% of the company’s stock.

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. The company was founded in 2023 and is based in Saint-Laurent, Canada.