enGene (NASDAQ:ENGN) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of enGene (NASDAQ:ENGN) from a hold rating to a sell rating in a report released on Saturday morning.

Several other equities research analysts have also recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of enGene in a research report on Wednesday, April 8th. Oppenheimer dropped their target price on shares of enGene from $33.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, March 11th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $27.00 target price on shares of enGene in a research note on Monday, March 9th. HC Wainwright reiterated a “buy” rating and issued a $25.00 price target on shares of enGene in a report on Monday, March 9th. Finally, Jefferies Financial Group assumed coverage on shares of enGene in a research note on Friday, January 30th. They issued a “buy” rating and a $28.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.69.

enGene Stock Performance

NASDAQ:ENGN opened at $8.53 on Friday. The stock has a 50-day moving average price of $8.19 and a 200 day moving average price of $8.38. The stock has a market capitalization of $571.42 million, a P/E ratio of -3.79 and a beta of -0.06. enGene has a 12-month low of $2.65 and a 12-month high of $12.25. The company has a current ratio of 11.75, a quick ratio of 11.75 and a debt-to-equity ratio of 0.09.

enGene (NASDAQ:ENGN) last posted its quarterly earnings results on Monday, March 9th. The company reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.11. Equities research analysts forecast that enGene will post -2.06 EPS for the current fiscal year.

Institutional Trading of enGene

Several hedge funds have recently modified their holdings of the company. Cresset Asset Management LLC purchased a new position in shares of enGene in the second quarter valued at $36,000. Paloma Partners Management Co purchased a new stake in enGene during the second quarter valued at $38,000. PFS Partners LLC purchased a new stake in enGene during the third quarter valued at $61,000. Raymond James Financial Inc. lifted its position 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. Finally, Hudson Bay Capital Management LP bought a new position in enGene during the third quarter valued at $76,000. 64.16% of the stock is owned by hedge funds and other 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. The company was founded in 2023 and is based in Saint-Laurent, Canada.