enGene (NASDAQ:ENGN) Shares Down 5.7% – Here’s Why

enGene Holdings Inc. (NASDAQ:ENGN)’s share price fell 5.7% during trading on Wednesday . The stock traded as low as $10.59 and last traded at $10.48. 22,553 shares changed hands during trading, a decline of 95% from the average session volume of 437,491 shares. The stock had previously closed at $11.11.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ENGN shares. Citigroup reaffirmed a “market outperform” rating on shares of enGene in a research report on Monday, January 5th. Raymond James Financial upgraded shares of enGene from an “outperform” rating to a “strong-buy” rating and set a $27.00 price target on the stock in a report on Tuesday, November 11th. HC Wainwright restated a “buy” rating and set a $25.00 price objective on shares of enGene in a research report on Wednesday, December 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of enGene in a research report on Friday, January 9th. Finally, UBS Group lifted their target price on enGene from $4.00 to $10.00 and gave the company a “neutral” rating in a research report on Wednesday, November 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.38.

enGene Price Performance

The stock has a market capitalization of $680.15 million, a price-to-earnings ratio of -4.42 and a beta of -0.29. The stock has a 50 day moving average price of $8.70 and a 200-day moving average price of $6.87. The company has a debt-to-equity ratio of 0.09, a current ratio of 6.30 and a quick ratio of 6.30.

enGene (NASDAQ:ENGN) last released its quarterly earnings results on Monday, December 22nd. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.18). On average, analysts forecast that enGene Holdings Inc. will post -1.56 earnings per share for the current year.

Institutional Trading of enGene

Hedge funds have recently modified their holdings of the business. Cresset Asset Management LLC purchased a new position in shares of enGene during the 2nd quarter worth approximately $36,000. Paloma Partners Management Co acquired a new position in shares of enGene in the 2nd quarter valued at about $38,000. PFS Partners LLC acquired a new stake in enGene during the third quarter worth about $61,000. Raymond James Financial Inc. grew 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 during the last quarter. Finally, Hudson Bay Capital Management LP bought a new stake in enGene in the 3rd quarter valued at about $76,000. 64.16% of the stock is owned by institutional investors and hedge funds.

enGene Company Profile

enGene, Inc is a clinical‐stage biopharmaceutical company focused on the development of gene‐based therapeutics for oncology. The company’s core technology is the EnGene Delivery Vehicle (EDV) platform, which employs nonliving, bacterially derived minicells to transport therapeutic payloads directly to tumor cells. By combining targeted delivery with potent payloads, enGene aims to improve the precision and efficacy of cancer treatments while reducing off‐target toxicity.

Through its EDV platform, enGene has advanced multiple therapeutic candidates into preclinical and clinical stages.