Raymond James Initiates Coverage on enGene (NASDAQ:ENGN)

Equities research analysts at Raymond James started coverage on shares of enGene (NASDAQ:ENGN) in a research report issued on Wednesday, MarketBeat.com reports. The firm set an “outperform” rating and a $23.00 price target on the stock. Raymond James’ target price would suggest a potential upside of 167.13% from the company’s current price.

Several other analysts also recently weighed in on the stock. Citizens Jmp raised shares of enGene to a “strong-buy” rating in a report on Monday, November 18th. Morgan Stanley reiterated an “overweight” rating and set a $40.00 target price on shares of enGene in a research report on Wednesday, September 11th. JMP Securities initiated coverage on enGene in a report on Monday, November 18th. They issued an “outperform” rating and a $18.00 price target for the company. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $30.00 price objective on shares of enGene in a report on Tuesday, September 24th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, enGene presently has an average rating of “Buy” and a consensus target price of $30.38.

enGene Stock Performance

Shares of ENGN stock opened at $8.61 on Wednesday. The stock’s 50-day moving average price is $7.87 and its 200 day moving average price is $8.36. The company has a quick ratio of 19.52, a current ratio of 19.52 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $380.70 million, a PE ratio of -5.25 and a beta of -0.76. enGene has a 52-week low of $4.42 and a 52-week high of $18.40.

enGene (NASDAQ:ENGN) last released its earnings results on Tuesday, September 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.05. As a group, equities research analysts forecast that enGene will post -1.54 EPS for the current year.

Insider Transactions at enGene

In related news, CEO Ronald Harold Wilfred Cooper bought 10,000 shares of the stock in a transaction on Friday, September 27th. The shares were purchased at an average price of $5.70 per share, for a total transaction of $57,000.00. Following the acquisition, the chief executive officer now owns 10,000 shares in the company, valued at $57,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Growth Opportunities F. Forbion purchased 11,844 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was bought at an average cost of $6.55 per share, with a total value of $77,578.20. Following the completion of the acquisition, the insider now owns 2,469,833 shares of the company’s stock, valued at approximately $16,177,406.15. The trade was a 0.48 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 420,965 shares of company stock valued at $2,651,103 in the last 90 days. 13.70% of the stock is currently owned by insiders.

Institutional Trading of enGene

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC acquired a new stake in shares of enGene during the 1st quarter worth about $17,095,000. SR One Capital Management LP acquired a new stake in enGene during the second quarter worth approximately $4,715,000. Logos Global Management LP grew its stake in enGene by 50.0% in the 2nd quarter. Logos Global Management LP now owns 1,200,000 shares of the company’s stock worth $11,316,000 after acquiring an additional 400,000 shares during the period. Wolverine Asset Management LLC acquired a new position in enGene in the 3rd quarter valued at $37,000. Finally, Franklin Resources Inc. lifted 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 period. Hedge funds and other institutional investors own 64.16% of the company’s stock.

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.