enGene (NASDAQ:ENGN) Earns Outperform Rating from Analysts at JMP Securities

JMP Securities initiated coverage on shares of enGene (NASDAQ:ENGN) in a report issued on Monday morning, Marketbeat.com reports. The brokerage issued an outperform rating and a $18.00 price objective on the stock.

ENGN has been the topic of a number of other reports. Morgan Stanley reissued an “overweight” rating and issued a $40.00 target price on shares of enGene in a research note on Wednesday, September 11th. Oppenheimer reissued an “outperform” rating and issued a $30.00 target price on shares of enGene in a research note on Tuesday, September 24th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, enGene presently has an average rating of “Buy” and a consensus price target of $31.43.

enGene Stock Up 0.4 %

NASDAQ ENGN opened at $7.66 on Monday. The stock’s fifty day moving average price is $7.68 and its 200 day moving average price is $8.65. The company has a debt-to-equity ratio of 0.09, a current ratio of 19.52 and a quick ratio of 19.52. enGene has a 1 year low of $4.42 and a 1 year high of $18.40.

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

Insider Activity at enGene

In other news, CEO Ronald Harold Wilfred Cooper acquired 10,000 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was acquired at an average cost of $5.70 per share, with a total value of $57,000.00. Following the transaction, the chief executive officer now owns 10,000 shares in the company, valued at approximately $57,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Growth Opportunities F. Forbion purchased 11,844 shares of enGene stock in a transaction that occurred on 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 transaction, the insider now owns 2,469,833 shares of the company’s stock, valued at $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. In the last quarter, insiders purchased 420,965 shares of company stock worth $2,651,103. Insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On enGene

Several hedge funds have recently modified their holdings of ENGN. Point72 Asset Management L.P. raised its position in enGene by 1,410.3% in the third quarter. Point72 Asset Management L.P. now owns 663,000 shares of the company’s stock worth $4,376,000 after acquiring an additional 619,100 shares in the last quarter. Wolverine Asset Management LLC acquired a new stake in enGene during the third quarter worth approximately $37,000. Logos Global Management LP increased 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 purchasing an additional 400,000 shares during the last quarter. SR One Capital Management LP purchased a new position in enGene during the second quarter worth about $4,715,000. Finally, Janus Henderson Group PLC purchased a new position in shares of enGene in the 1st quarter worth $17,095,000. 64.16% of the stock is owned by institutional investors and hedge funds.

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.