enGene (NASDAQ:ENGN) Issues Earnings Results, Beats Estimates By $0.91 EPS

enGene (NASDAQ:ENGN) released its quarterly earnings data on Monday. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.91, FiscalAI reports. During the same period last year, the company posted $0.51 earnings per share.

enGene Trading Down 1.1%

Shares of ENGN stock opened at $1.75 on Wednesday. enGene has a 12 month low of $1.40 and a 12 month high of $12.25. The company has a quick ratio of 11.75, a current ratio of 11.75 and a debt-to-equity ratio of 0.09. The business’s 50 day moving average is $4.21 and its two-hundred day moving average is $7.15. The company has a market cap of $117.22 million, a PE ratio of -0.81 and a beta of -0.30.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Morgan Stanley downgraded enGene from an “overweight” rating to an “equal weight” rating in a report on Friday, May 8th. Piper Sandler downgraded enGene from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $7.00 to $4.00 in a report on Friday, May 8th. Wells Fargo & Company restated an “equal weight” rating and issued a $2.00 price objective (down from $25.00) on shares of enGene in a report on Friday, May 8th. Raymond James Financial downgraded enGene from a “strong-buy” rating to an “outperform” rating and set a $4.00 price objective on the stock. in a report on Friday, May 8th. Finally, Guggenheim downgraded enGene from a “buy” rating to a “neutral” rating in a report on Thursday, May 7th. Four analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $12.50.

Hedge Funds Weigh In On enGene

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC grew its holdings in enGene by 57.3% during the third quarter. Millennium Management LLC now owns 20,502 shares of the company’s stock valued at $140,000 after purchasing an additional 7,472 shares during the last quarter. Raymond James Financial Inc. grew its holdings in enGene by 383.6% during the third quarter. Raymond James Financial Inc. now owns 10,000 shares of the company’s stock valued at $68,000 after purchasing an additional 7,932 shares during the last quarter. Cresset Asset Management LLC acquired a new position in enGene during the second quarter valued at approximately $36,000. Paloma Partners Management Co acquired a new position in enGene during the second quarter valued at approximately $38,000. Finally, Jump Financial LLC acquired a new position in enGene during the fourth quarter valued at approximately $121,000. Institutional investors and hedge funds own 64.16% of the company’s stock.

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