enGene (NASDAQ:ENGN) Price Target Cut to $6.00 by Analysts at HC Wainwright

enGene (NASDAQ:ENGN) had its price target reduced by HC Wainwright from $25.00 to $6.00 in a report released on Friday,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Several other analysts have also recently issued reports on the company. Guggenheim cut enGene from a “buy” rating to a “neutral” rating in a research report on Thursday. Oppenheimer reduced their price target on enGene from $33.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, March 11th. Weiss Ratings restated a “sell (d-)” rating on shares of enGene in a research note on Wednesday, April 8th. Citigroup downgraded enGene from a “market outperform” rating to a “market perform” rating in a research report on Friday. Finally, WBB Securities initiated coverage on shares of enGene in a report on Monday, April 13th. They issued a “buy” rating and a $21.50 target price for the company. Four research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $13.41.

enGene Trading Down 12.8%

ENGN opened at $1.50 on Friday. The company has a quick ratio of 11.75, a current ratio of 11.75 and a debt-to-equity ratio of 0.09. The stock’s fifty day moving average is $7.60 and its two-hundred day moving average is $8.30. The company has a market capitalization of $100.49 million, a P/E ratio of -0.67 and a beta of -0.02. enGene has a 52 week low of $1.45 and a 52 week high of $12.25.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Perceptive Advisors LLC raised its stake in enGene by 179.8% in the 4th quarter. Perceptive Advisors LLC now owns 5,869,076 shares of the company’s stock worth $52,998,000 after acquiring an additional 3,771,840 shares during the last quarter. Siren L.L.C. purchased a new stake in enGene during the 4th quarter valued at about $30,126,000. Braidwell LP acquired a new position in shares of enGene in the third quarter valued at about $15,479,000. Janus Henderson Group PLC acquired a new position in shares of enGene in the fourth quarter valued at about $17,110,000. Finally, Cormorant Asset Management LP raised its stake in shares of enGene by 72.1% in the fourth quarter. Cormorant Asset Management LP now owns 4,000,000 shares of the company’s stock worth $36,120,000 after purchasing an additional 1,676,405 shares during the last quarter. Hedge funds and other institutional investors own 64.16% of the company’s stock.

enGene News Roundup

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.