enGene (NASDAQ:ENGN) Lowered to “Equal Weight” Rating by Morgan Stanley

enGene (NASDAQ:ENGN) was downgraded by research analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report issued on Friday.

Other analysts have also issued research reports about the stock. HC Wainwright decreased their target price on shares of enGene from $25.00 to $6.00 and set a “buy” rating on the stock in a report on Friday. Raymond James Financial downgraded shares of enGene from a “strong-buy” rating to an “outperform” rating and set a $4.00 price target for the company. in a report on Friday. Oppenheimer lowered shares of enGene from an “outperform” rating to a “market perform” rating in a research report on Friday. Citigroup lowered enGene from a “market outperform” rating to a “market perform” rating in a research note on Friday. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $2.00 target price (down from $25.00) on shares of enGene in a research report on Friday. Four investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $13.41.

enGene Stock Down 80.6%

Shares of NASDAQ ENGN opened at $1.72 on Friday. The company has a quick ratio of 11.75, a current ratio of 11.75 and a debt-to-equity ratio of 0.09. The company has a market cap of $115.21 million, a P/E ratio of -0.76 and a beta of -0.02. enGene has a 52 week low of $1.70 and a 52 week high of $12.25. The business has a 50-day simple moving average of $7.60 and a two-hundred day simple moving average of $8.30.

enGene (NASDAQ:ENGN) last announced its quarterly earnings results on Monday, March 9th. The company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.11. Research analysts anticipate that enGene will post -2.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On enGene

A number of large investors have recently bought and sold shares of the stock. Cresset Asset Management LLC bought a new stake in enGene in the second quarter valued at approximately $36,000. Paloma Partners Management Co bought a new position in shares of enGene in the second quarter worth approximately $38,000. Raymond James Financial Inc. increased its stake in shares of enGene by 383.6% in the third quarter. Raymond James Financial Inc. now owns 10,000 shares of the company’s stock worth $68,000 after buying an additional 7,932 shares during the period. Hudson Bay Capital Management LP purchased a new position in shares of enGene in the third quarter worth $76,000. Finally, PFS Partners LLC raised its holdings in enGene by 22.2% during the 4th quarter. PFS Partners LLC now owns 11,000 shares of the company’s stock valued at $99,000 after buying an additional 2,000 shares during the last quarter. 64.16% of the stock is owned by hedge funds and other 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. The company was founded in 2023 and is based in Saint-Laurent, Canada.