HC Wainwright Initiates Coverage on enGene (NASDAQ:ENGN)

HC Wainwright assumed coverage on shares of enGene (NASDAQ:ENGN) in a research note issued on Monday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $25.00 price target on the stock. HC Wainwright’s price target suggests a potential upside of 328.82% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on the company. Morgan Stanley reissued an “overweight” rating and set a $40.00 price target on shares of enGene in a research report on Wednesday, September 11th. Raymond James assumed coverage on shares of enGene in a research report on Wednesday, November 27th. They set an “outperform” rating and a $23.00 target price for the company. JMP Securities reaffirmed a “market outperform” rating and set a $18.00 price target on shares of enGene in a research report on Friday, December 6th. Citizens Jmp upgraded shares of enGene to a “strong-buy” rating in a research note on Monday, November 18th. Finally, Oppenheimer reissued an “outperform” rating and issued a $30.00 target price on shares of enGene in a research note on Tuesday, September 24th. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, enGene presently has an average rating of “Buy” and a consensus price target of $29.78.

enGene Trading Down 2.2 %

Shares of ENGN stock opened at $5.83 on Monday. The firm’s 50-day simple moving average is $8.13 and its 200-day simple moving average is $7.80. 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 has a 1-year low of $4.42 and a 1-year high of $18.40. The firm has a market cap of $257.78 million, a P/E ratio of -10.05 and a beta of -0.78.

enGene (NASDAQ:ENGN) last posted its quarterly earnings results on Thursday, December 19th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.06. As a group, equities analysts forecast that enGene will post -1.52 EPS for the current year.

Insider Buying and Selling at enGene

In other news, major shareholder Growth Opportunities F. Forbion purchased 41,639 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was acquired at an average cost of $5.97 per share, for a total transaction of $248,584.83. Following the completion of the purchase, the insider now 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ronald Harold Wilfred Cooper acquired 10,000 shares of the business’s stock in a transaction on Friday, September 27th. The shares were purchased at an average price of $5.70 per share, for a total transaction of $57,000.00. Following the purchase, the chief executive officer now directly owns 10,000 shares of the company’s stock, valued at $57,000. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 420,965 shares of company stock valued at $2,651,103 in the last ninety days. Insiders own 13.70% of the company’s stock.

Institutional Trading of enGene

Institutional investors have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. boosted its holdings in shares of enGene by 1,410.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 663,000 shares of the company’s stock valued at $4,376,000 after buying an additional 619,100 shares during the period. SR One Capital Management LP acquired a new position in enGene in the second quarter valued at approximately $4,715,000. Logos Global Management LP raised 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 worth $11,316,000 after purchasing an additional 400,000 shares during the period. Franklin Resources Inc. lifted its holdings in shares of enGene by 48.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,189,952 shares of the company’s stock worth $7,854,000 after purchasing an additional 389,918 shares during the last quarter. Finally, Wolverine Asset Management LLC bought a new stake in enGene in the third quarter valued at $37,000. Institutional investors 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.