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

JMP Securities assumed coverage on shares of enGene (NASDAQ:ENGN) in a research report sent to investors on Monday morning, Marketbeat Ratings reports. The firm issued an outperform rating and a $18.00 target price on the stock.

Other analysts have also recently issued research reports about the company. Morgan Stanley reissued an “overweight” rating and set a $40.00 price objective on shares of enGene in a report on Wednesday, September 11th. Oppenheimer reissued an “outperform” rating and issued a $30.00 price target on shares of enGene in a report on Tuesday, September 24th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $31.43.

enGene Stock Performance

Shares of ENGN opened at $7.67 on Monday. enGene has a fifty-two week low of $4.42 and a fifty-two week high of $18.40. The business has a 50-day moving average of $7.73 and a 200 day moving average of $8.58. 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 posted its quarterly earnings results on Tuesday, September 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.05. 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 purchased 41,639 shares of the stock in a transaction on Friday, September 27th. The shares were acquired at an average price of $5.97 per share, for a total transaction of $248,584.83. Following the completion of the transaction, the insider now directly owns 2,059,459 shares of the company’s stock, valued at approximately $12,294,970.23. This trade represents a 2.06 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ronald Harold Wilfred Cooper acquired 10,000 shares of the business’s stock in a transaction dated 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 completion of the acquisition, the chief executive officer now directly owns 10,000 shares in the company, valued at approximately $57,000. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 420,965 shares of company stock worth $2,651,103. 13.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On enGene

Hedge funds have recently made changes to their positions in the business. Logos Global Management LP raised its position in enGene by 50.0% in the 2nd quarter. Logos Global Management LP now owns 1,200,000 shares of the company’s stock worth $11,316,000 after purchasing an additional 400,000 shares during the period. Janus Henderson Group PLC bought a new position in shares of enGene during the first quarter valued at about $17,095,000. Point72 Asset Management L.P. increased its holdings in shares of enGene by 1,410.3% in the third quarter. Point72 Asset Management L.P. now owns 663,000 shares of the company’s stock worth $4,376,000 after buying an additional 619,100 shares during the period. SR One Capital Management LP purchased a new position in shares of enGene in the second quarter worth about $4,715,000. Finally, Altitude Crest Partners Inc. bought a new stake in shares of enGene in the 1st quarter valued at about $2,039,000. 64.16% of the stock is currently owned by institutional investors.

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.