enGene (NASDAQ:ENGN) Coverage Initiated by Analysts at Raymond James

Raymond James initiated coverage on shares of enGene (NASDAQ:ENGN) in a research note issued to investors on Wednesday morning, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $23.00 target price on the stock.

Several other analysts also recently commented on the stock. JMP Securities assumed coverage on shares of enGene in a research report on Monday, November 18th. They issued an “outperform” rating and a $18.00 price target for the company. Oppenheimer reaffirmed an “outperform” rating and issued a $30.00 target price on shares of enGene in a report on Tuesday, September 24th. Morgan Stanley reissued an “overweight” rating and set a $40.00 price target on shares of enGene in a report on Wednesday, September 11th. Finally, Citizens Jmp raised enGene to a “strong-buy” rating in a research note on Monday, November 18th. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $30.38.

enGene Stock Performance

NASDAQ ENGN opened at $8.61 on Wednesday. The company has a fifty day moving average of $7.84 and a two-hundred day moving average of $8.36. enGene has a 1 year low of $4.42 and a 1 year high of $18.40. The company has a debt-to-equity ratio of 0.09, a quick ratio of 19.52 and a current ratio of 19.52.

enGene (NASDAQ:ENGN) last released its quarterly earnings results on Tuesday, September 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.05. On average, equities analysts anticipate that enGene will post -1.54 earnings per share for the current fiscal year.

Insider Activity at enGene

In related news, major shareholder Growth Opportunities F. Forbion acquired 341,332 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average cost of $6.34 per share, for a total transaction of $2,164,044.88. Following the transaction, the insider now directly owns 2,400,791 shares of the company’s stock, valued at approximately $15,221,014.94. This trade represents a 16.57 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ronald Harold Wilfred Cooper bought 10,000 shares of enGene stock in a transaction that occurred on Friday, September 27th. The stock was bought at an average cost of $5.70 per share, for a total transaction of $57,000.00. Following the purchase, the chief executive officer now owns 10,000 shares in the company, valued at $57,000. This represents a ? increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 420,965 shares of company stock worth $2,651,103 over the last three months. 13.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On enGene

Institutional investors have recently made changes to their positions in the stock. Wolverine Asset Management LLC purchased a new stake in enGene during the 3rd quarter worth about $37,000. Franklin Resources Inc. boosted its stake in shares of enGene by 48.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,189,952 shares of the company’s stock worth $7,854,000 after purchasing an additional 389,918 shares during the last quarter. Logos Global Management LP grew its holdings in shares of enGene by 50.0% during the second quarter. Logos Global Management LP now owns 1,200,000 shares of the company’s stock worth $11,316,000 after buying an additional 400,000 shares in the last quarter. SR One Capital Management LP purchased a new position in shares of enGene during the second quarter valued at approximately $4,715,000. Finally, Point72 Asset Management L.P. boosted its position in enGene by 1,410.3% during the third quarter. Point72 Asset Management L.P. now owns 663,000 shares of the company’s stock worth $4,376,000 after acquiring an additional 619,100 shares during the last quarter. 64.16% of the stock is owned by institutional investors and hedge funds.

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.