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

Wall Street Zen downgraded shares of enGene (NASDAQ:ENGN) from a sell rating to a strong sell rating in a research note published on Saturday morning.

Other equities research analysts have also issued reports about the stock. Morgan Stanley lowered shares of enGene from an “equal weight” rating to an “underweight” rating and set a $3.00 target price on the stock. in a research note on Thursday, June 18th. HC Wainwright cut their price target on enGene from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, June 16th. Guggenheim cut enGene from a “buy” rating to a “neutral” rating in a report on Thursday, May 7th. Citizens Jmp downgraded enGene from an “outperform” rating to a “market perform” rating in a research report on Friday, May 8th. Finally, 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 report on Friday, May 8th. 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $11.05.

enGene Stock Performance

ENGN opened at $1.82 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 12.57 and a quick ratio of 12.57. The firm has a fifty day moving average price of $1.76 and a 200 day moving average price of $5.84. enGene has a 1 year low of $1.40 and a 1 year high of $12.25. The stock has a market cap of $121.92 million, a P/E ratio of -0.84 and a beta of -0.28.

enGene (NASDAQ:ENGN) last announced its quarterly earnings results on Monday, June 15th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.05. During the same quarter in the previous year, the company earned $0.51 EPS. Equities research analysts anticipate that enGene will post -1.84 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Cresset Asset Management LLC purchased a new position in enGene in the 2nd quarter valued at about $36,000. Raymond James Financial Inc. increased its stake in enGene by 383.6% during the 3rd quarter. Raymond James Financial Inc. now owns 10,000 shares of the company’s stock worth $68,000 after buying an additional 7,932 shares in the last quarter. Paloma Partners Management Co purchased a new stake in enGene during the 2nd quarter worth approximately $38,000. PFS Partners LLC raised its holdings in shares of enGene by 22.2% during the fourth quarter. PFS Partners LLC now owns 11,000 shares of the company’s stock valued at $99,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Jump Financial LLC acquired a new position in shares of enGene during the fourth quarter valued at approximately $121,000. 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.