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

enGene Holdings Inc. (NASDAQ:ENGN) has been assigned a consensus rating of “Buy” from the eleven ratings firms that are presently covering the company, MarketBeat reports. Ten investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $29.78.

A number of analysts have commented on ENGN shares. HC Wainwright initiated coverage on shares of enGene in a research note on Monday, December 23rd. They issued a “buy” rating and a $25.00 price target for the company. Morgan Stanley reiterated 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 set a $30.00 price target on shares of enGene in a research report on Tuesday, September 24th. Raymond James assumed coverage on enGene in a research report on Wednesday, November 27th. They issued an “outperform” rating and a $23.00 price objective for the company. Finally, Citizens Jmp raised enGene to a “strong-buy” rating in a report on Monday, November 18th.

Insider Buying and Selling

In related news, major shareholder Growth Opportunities F. Forbion bought 11,844 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were bought at an average price of $6.55 per share, for a total transaction of $77,578.20. Following the transaction, the insider now directly owns 2,469,833 shares of the company’s stock, valued at approximately $16,177,406.15. The trade was a 0.48 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.70% of the stock is owned by insiders.

Hedge Funds Weigh In On enGene

Institutional investors and hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. boosted its holdings in enGene by 48.7% in the third quarter. Franklin Resources Inc. now owns 1,189,952 shares of the company’s stock worth $7,854,000 after acquiring an additional 389,918 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of enGene by 1,410.3% during the third quarter. Point72 Asset Management L.P. now owns 663,000 shares of the company’s stock worth $4,376,000 after purchasing an additional 619,100 shares during the period. Wolverine Asset Management LLC bought a new position in shares of enGene in the 3rd quarter worth $37,000. Logos Global Management LP grew its position in enGene by 50.0% in the 2nd 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 period. Finally, SR One Capital Management LP bought a new stake in enGene during the 2nd quarter valued at $4,715,000. Institutional investors own 64.16% of the company’s stock.

enGene Trading Up 6.2 %

NASDAQ:ENGN opened at $7.06 on Tuesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 19.52 and a quick ratio of 19.52. The business’s 50-day simple moving average is $7.69 and its 200-day simple moving average is $7.66. enGene has a fifty-two week low of $4.42 and a fifty-two week high of $18.40. The stock has a market capitalization of $312.16 million, a PE ratio of -12.17 and a beta of -0.78.

enGene (NASDAQ:ENGN) last issued its quarterly earnings results on Thursday, December 19th. The company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.06. Sell-side analysts expect that enGene will post -1.52 earnings per share for the current fiscal year.

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.