enGene (NASDAQ:ENGN) Coverage Initiated by Analysts at JMP Securities

JMP Securities assumed coverage on shares of enGene (NASDAQ:ENGN) in a research report sent to investors on Monday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $18.00 price target on the stock.

ENGN has been the subject of a number of other research reports. Morgan Stanley reaffirmed an “overweight” rating and set a $40.00 price target on shares of enGene in a research report on Wednesday, September 11th. Oppenheimer reiterated an “outperform” rating and set a $30.00 target price on shares of enGene in a report on Tuesday, September 24th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $31.43.

enGene Stock Performance

ENGN opened at $7.66 on Monday. The business has a 50 day simple moving average of $7.68 and a two-hundred day simple moving average of $8.65. The company has a quick ratio of 19.52, a current ratio of 19.52 and a debt-to-equity ratio of 0.09. enGene has a one year low of $4.42 and a one year high of $18.40.

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

Insider Buying and Selling

In other news, major shareholder Growth Opportunities F. Forbion purchased 5,997 shares of the stock in a transaction dated Friday, October 4th. The shares were purchased at an average cost of $6.54 per share, with a total value of $39,220.38. Following the acquisition, the insider now directly owns 2,457,989 shares of the company’s stock, valued at $16,075,248.06. This represents a 0.24 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ronald Harold Wilfred Cooper purchased 10,000 shares of the stock in a transaction dated Friday, September 27th. The shares were purchased at an average cost of $5.70 per share, for a total transaction of $57,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 10,000 shares in the company, valued at approximately $57,000. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 420,965 shares of company stock worth $2,651,103 in the last 90 days. Insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On enGene

Hedge funds and other institutional investors have recently modified their holdings of the company. Logos Global Management LP raised its holdings 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 purchasing an additional 400,000 shares during the period. Janus Henderson Group PLC purchased a new position in shares of enGene during the first quarter valued at about $17,095,000. Point72 Asset Management L.P. grew its position in shares of enGene by 1,410.3% during the third quarter. Point72 Asset Management L.P. now owns 663,000 shares of the company’s stock valued at $4,376,000 after purchasing an additional 619,100 shares in the last quarter. SR One Capital Management LP purchased a new position in enGene in the second quarter worth about $4,715,000. Finally, Altitude Crest Partners Inc. bought a new stake in enGene in the first quarter worth about $2,039,000. 64.16% of the stock is owned by institutional investors.

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.