Raymond James Initiates Coverage on enGene (NASDAQ:ENGN)

Raymond James began coverage on shares of enGene (NASDAQ:ENGN) in a report issued on Wednesday, Marketbeat.com reports. The firm issued an outperform rating and a $23.00 price target on the stock.

Several other analysts have also recently commented on the company. Oppenheimer restated an “outperform” rating and issued a $30.00 price target on shares of enGene in a report on Tuesday, September 24th. Citizens Jmp raised enGene to a “strong-buy” rating in a research report on Monday, November 18th. JMP Securities started coverage on enGene in a research report on Monday, November 18th. They issued an “outperform” rating and a $18.00 target price on the stock. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $40.00 target price on shares of enGene in a research report on Wednesday, September 11th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $30.38.

enGene Stock Performance

ENGN opened at $8.61 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 19.52 and a current ratio of 19.52. The business has a 50-day moving average of $7.84 and a two-hundred day moving average of $8.36. enGene has a 12 month low of $4.42 and a 12 month high of $18.40.

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

Insider Activity

In related news, CEO Ronald Harold Wilfred Cooper acquired 10,000 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was purchased 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 directly owns 10,000 shares in the company, valued at $57,000. This represents a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Growth Opportunities F. Forbion acquired 41,639 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were bought at an average price of $5.97 per share, with a total value of $248,584.83. Following the completion of the purchase, the insider now owns 2,059,459 shares in the company, valued at $12,294,970.23. The trade was a 2.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 420,965 shares of company stock worth $2,651,103. 13.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Wolverine Asset Management LLC bought a new position in enGene during the 3rd quarter worth $37,000. Franklin Resources Inc. grew its stake in enGene by 48.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,189,952 shares of the company’s stock worth $7,854,000 after buying an additional 389,918 shares during the last quarter. Logos Global Management LP grew its stake in enGene by 50.0% during the 2nd quarter. Logos Global Management LP now owns 1,200,000 shares of the company’s stock worth $11,316,000 after buying an additional 400,000 shares during the last quarter. SR One Capital Management LP acquired a new position in enGene during the 2nd quarter worth $4,715,000. Finally, Point72 Asset Management L.P. boosted its position in enGene by 1,410.3% during the 3rd 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 during the period. 64.16% of the stock is currently owned by institutional investors.

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.