enGene (NASDAQ:ENGN) Lowered to Hold Rating by Wells Fargo & Company

Wells Fargo & Company downgraded shares of enGene (NASDAQ:ENGN) from a strong-buy rating to a hold rating in a report published on Friday morning,Zacks.com reports.

Several other research analysts have also recently commented on ENGN. Wall Street Zen cut enGene from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Morgan Stanley cut enGene from an “overweight” rating to an “equal weight” rating in a research note on Friday. Weiss Ratings restated a “sell (d-)” rating on shares of enGene in a research note on Wednesday, April 8th. Guggenheim cut enGene from a “buy” rating to a “neutral” rating in a research note on Thursday. Finally, Raymond James Financial cut enGene from a “strong-buy” rating to an “outperform” rating and set a $4.00 price objective on the stock. in a research note on Friday. Four research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $13.41.

enGene Trading Down 12.8%

NASDAQ:ENGN opened at $1.50 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 11.75 and a current ratio of 11.75. enGene has a one year low of $1.45 and a one year high of $12.25. The business’s 50-day simple moving average is $7.60 and its 200 day simple moving average is $8.30. The stock has a market cap of $100.49 million, a price-to-earnings ratio of -0.67 and a beta of -0.02.

enGene (NASDAQ:ENGN) last released its quarterly earnings results on Monday, March 9th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.55) by $0.11. As a group, sell-side analysts predict that enGene will post -2.06 earnings per share for the current fiscal year.

Institutional Trading of enGene

Several institutional investors and hedge funds have recently bought and sold shares of the company. Privium Fund Management B.V. bought a new position in shares of enGene during the fourth quarter valued at approximately $3,179,000. Braidwell LP bought a new position in shares of enGene during the third quarter valued at approximately $15,479,000. PFS Partners LLC grew 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 purchasing an additional 2,000 shares during the last quarter. Hudson Bay Capital Management LP bought a new position in shares of enGene during the third quarter valued at approximately $76,000. Finally, Perceptive Advisors LLC grew its holdings in shares of enGene by 179.8% during the fourth quarter. Perceptive Advisors LLC now owns 5,869,076 shares of the company’s stock valued at $52,998,000 after purchasing an additional 3,771,840 shares during the last quarter. Institutional investors and hedge funds own 64.16% of the company’s stock.

Key enGene News

Here are the key news stories impacting enGene this week:

• Positive Sentiment: HC Wainwright kept a buy rating on enGene Holdings Inc. (ENGN), though it lowered its price target to $6.00 from $25.00, implying meaningful upside from the current share price. HC Wainwright lowers price target but keeps buy rating
• Neutral Sentiment: Citizens JMP reaffirmed its market perform rating on enGene Holdings Inc. (ENGN), signaling a neutral stance on the shares. Citizens JMP reaffirms market perform
• Negative Sentiment: Oppenheimer downgraded enGene Holdings Inc. (ENGN) from outperform to market perform, adding to concerns about near-term upside. Oppenheimer downgrades enGene
• Negative Sentiment: Morgan Stanley cut enGene Holdings Inc. (ENGN) from overweight to equal weight, another sign that analysts are becoming less constructive. Morgan Stanley downgrades enGene
• Negative Sentiment: Leerink Partners downgraded enGene Holdings Inc. (ENGN) from outperform to market perform and set a $2.00 price target, reinforcing a cautious outlook. Leerink Partners downgrades enGene
• Negative Sentiment: A shareholder investigation was announced by Johnson Fistel into potential claims involving enGene Holdings Inc. (ENGN), which can add legal overhang and uncertainty for investors. Shareholder investigation announcement

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.