Analysts Set enGene Holdings Inc. (NASDAQ:ENGN) Price Target at $29.78

Shares of enGene Holdings Inc. (NASDAQ:ENGN) have been assigned a consensus rating of “Buy” from the eleven research firms that are currently covering the stock, MarketBeat.com reports. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $29.78.

Several brokerages recently weighed in on ENGN. JMP Securities reaffirmed a “market outperform” rating and set a $18.00 target price on shares of enGene in a research note on Monday, December 23rd. Morgan Stanley reaffirmed an “overweight” rating and set a $40.00 price objective on shares of enGene in a research report on Wednesday, September 11th. Citizens Jmp raised enGene to a “strong-buy” rating in a research note on Monday, November 18th. Raymond James initiated coverage on enGene in a report on Wednesday, November 27th. They set an “outperform” rating and a $23.00 price target on the stock. Finally, Oppenheimer reiterated an “outperform” rating and issued a $30.00 price objective on shares of enGene in a research note on Tuesday, September 24th.

enGene Trading Up 13.0 %

Shares of NASDAQ ENGN opened at $7.98 on Tuesday. The company has a current ratio of 19.52, a quick ratio of 19.52 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $352.84 million, a PE ratio of -13.76 and a beta of -0.78. enGene has a twelve month low of $4.42 and a twelve month high of $18.40. The stock has a fifty day simple moving average of $7.67 and a 200-day simple moving average of $7.66.

enGene (NASDAQ:ENGN) last released its earnings results on Thursday, December 19th. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.06. On average, equities analysts forecast that enGene will post -1.52 earnings per share for the current year.

Insider Transactions at enGene

In other news, major shareholder Growth Opportunities F. Forbion bought 11,844 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were acquired at an average price of $6.55 per share, for a total transaction of $77,578.20. Following the completion of the transaction, the insider now owns 2,469,833 shares of the company’s stock, valued at approximately $16,177,406.15. This trade represents a 0.48 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Logos Global Management LP lifted its stake in enGene by 50.0% in the second quarter. Logos Global Management LP now owns 1,200,000 shares of the company’s stock valued at $11,316,000 after buying an additional 400,000 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of enGene by 48.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,189,952 shares of the company’s stock valued at $7,854,000 after acquiring an additional 389,918 shares during the period. Point72 Asset Management L.P. raised its position in enGene by 1,410.3% in the 3rd 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 during the last quarter. SR One Capital Management LP acquired a new stake in enGene during the 2nd quarter worth $4,715,000. Finally, Wolverine Asset Management LLC purchased a new position in enGene during the 3rd quarter worth $37,000. 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.