enGene (NASDAQ:ENGN) Shares Gap Down – Here’s What Happened

enGene Holdings Inc. (NASDAQ:ENGN)’s share price gapped down before the market opened on Monday . The stock had previously closed at $8.92, but opened at $8.48. enGene shares last traded at $8.37, with a volume of 4,069 shares traded.

Analyst Ratings Changes

ENGN has been the topic of several research analyst reports. Raymond James Financial raised enGene from an “outperform” rating to a “strong-buy” rating and set a $27.00 price objective on the stock in a research note on Tuesday, November 11th. UBS Group raised their price target on shares of enGene from $4.00 to $10.00 and gave the company a “neutral” rating in a research note on Wednesday, November 12th. Citizens Jmp lifted their price target on shares of enGene from $18.00 to $21.00 and gave the company a “market outperform” rating in a report on Wednesday, November 12th. Oppenheimer reissued an “outperform” rating and issued a $33.00 price objective (up previously from $30.00) on shares of enGene in a research note on Wednesday, November 12th. Finally, Citigroup restated a “market outperform” rating on shares of enGene in a research report on Wednesday, November 12th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, enGene currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.38.

enGene Stock Down 0.9%

The company has a debt-to-equity ratio of 0.09, a quick ratio of 10.34 and a current ratio of 10.34. The stock’s fifty day simple moving average is $7.84 and its two-hundred day simple moving average is $5.61. The stock has a market capitalization of $541.18 million, a P/E ratio of -4.43 and a beta of -0.28.

enGene (NASDAQ:ENGN) last issued its quarterly earnings results on Thursday, September 11th. The company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.06). As a group, research analysts expect that enGene Holdings Inc. will post -1.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ENGN. Millennium Management LLC increased its stake in shares of enGene by 57.3% in the third quarter. Millennium Management LLC now owns 20,502 shares of the company’s stock valued at $140,000 after buying an additional 7,472 shares during the period. Citadel Advisors LLC boosted its holdings in enGene by 153.3% in the third quarter. Citadel Advisors LLC now owns 58,370 shares of the company’s stock valued at $399,000 after acquiring an additional 35,327 shares during the last quarter. Braidwell LP acquired a new stake in enGene during the 3rd quarter valued at approximately $15,479,000. Raymond James Financial Inc. raised its holdings in enGene by 383.6% during the 3rd quarter. Raymond James Financial Inc. now owns 10,000 shares of the company’s stock worth $68,000 after purchasing an additional 7,932 shares during the last quarter. Finally, PFS Partners LLC acquired a new position in shares of enGene in the 3rd quarter worth approximately $61,000. 64.16% of the stock is owned by institutional investors and hedge funds.

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.