enGene (NASDAQ:ENGN) Releases Earnings Results, Beats Expectations By $0.06 EPS

enGene (NASDAQ:ENGN) announced its earnings results on Thursday. The company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.06, Zacks reports.

enGene Price Performance

Shares of ENGN traded up $0.03 during midday trading on Thursday, hitting $5.96. The company’s stock had a trading volume of 57,410 shares, compared to its average volume of 118,128. 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. The stock has a market capitalization of $263.53 million, a price-to-earnings ratio of -3.66 and a beta of -0.78. The company’s fifty day simple moving average is $8.18 and its two-hundred day simple moving average is $7.82.

Insider Buying and Selling

In related news, major shareholder Growth Opportunities F. Forbion acquired 5,997 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was acquired at an average price of $6.54 per share, with a total value of $39,220.38. Following the purchase, the insider now directly owns 2,457,989 shares in the company, valued at approximately $16,075,248.06. This trade represents a 0.24 % increase in their ownership of the stock. The purchase 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 the firm’s stock in a transaction on Friday, September 27th. The shares were 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 of the company’s stock, valued at approximately $57,000. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 420,965 shares of company stock worth $2,651,103 in the last ninety days. 13.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ENGN shares. Raymond James initiated coverage on shares of enGene in a report on Wednesday, November 27th. They issued an “outperform” rating and a $23.00 price objective for the company. Citizens Jmp upgraded enGene to a “strong-buy” rating in a research note on Monday, November 18th. Morgan Stanley restated an “overweight” rating and set a $40.00 price objective on shares of enGene in a research note on Wednesday, September 11th. Oppenheimer reiterated an “outperform” rating and set a $30.00 target price on shares of enGene in a research report on Tuesday, September 24th. Finally, JMP Securities reissued a “market outperform” rating and set a $18.00 target price on shares of enGene in a report on Friday, December 6th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $30.38.

enGene Company Profile

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.