enGene (NASDAQ:ENGN) Downgraded by Leerink Partners to Market Perform

Leerink Partners downgraded shares of enGene (NASDAQ:ENGN) from an outperform rating to a market perform rating in a research report sent to investors on Friday, Marketbeat Ratings reports. The brokerage currently has $2.00 target price on the stock.

A number of other equities research analysts also recently commented on the stock. Guggenheim downgraded shares of enGene from a “buy” rating to a “neutral” rating in a report on Thursday. Piper Sandler downgraded shares of enGene from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $7.00 to $4.00 in a research note on Friday. Citigroup lowered shares of enGene from a “market outperform” rating to a “market perform” rating in a research report on Friday. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $2.00 target price (down from $25.00) on shares of enGene in a research note on Friday. Finally, HC Wainwright reduced their price target on enGene from $25.00 to $6.00 and set a “buy” rating on the stock in a research note on Friday. Four 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. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $13.41.

enGene Stock Performance

NASDAQ ENGN opened at $1.50 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. enGene has a fifty-two week low of $1.45 and a fifty-two week high of $12.25. The business has a fifty day moving average of $7.60 and a 200-day moving average of $8.30. The stock has a market cap of $100.49 million, a price-to-earnings ratio of -0.67 and a beta of -0.02.

enGene (NASDAQ:ENGN) last posted its quarterly earnings data on Monday, March 9th. The company reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.11. As a group, analysts predict that enGene will post -2.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ENGN. Cresset Asset Management LLC acquired a new stake in shares of enGene in the second quarter worth approximately $36,000. Paloma Partners Management Co acquired a new position in enGene during the second quarter worth approximately $38,000. Raymond James Financial Inc. increased its position in enGene by 383.6% during the third 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. Hudson Bay Capital Management LP acquired a new position in shares of enGene in the 3rd quarter valued at $76,000. Finally, PFS Partners LLC boosted its holdings in shares of enGene by 22.2% in the 4th quarter. PFS Partners LLC now owns 11,000 shares of the company’s stock valued at $99,000 after purchasing an additional 2,000 shares during the last quarter. 64.16% of the stock is currently owned by hedge funds and other institutional investors.

enGene News Summary

Here are the key news stories impacting enGene this week:

• Positive Sentiment: HC Wainwright kept a buy rating on enGene Holdings Inc. (ENGN), though it lowered its price target to $6.00 from $25.00, implying meaningful upside from the current share price. HC Wainwright lowers price target but keeps buy rating
• Neutral Sentiment: Citizens JMP reaffirmed its market perform rating on enGene Holdings Inc. (ENGN), signaling a neutral stance on the shares. Citizens JMP reaffirms market perform
• Negative Sentiment: Oppenheimer downgraded enGene Holdings Inc. (ENGN) from outperform to market perform, adding to concerns about near-term upside. Oppenheimer downgrades enGene
• Negative Sentiment: Morgan Stanley cut enGene Holdings Inc. (ENGN) from overweight to equal weight, another sign that analysts are becoming less constructive. Morgan Stanley downgrades enGene
• Negative Sentiment: Leerink Partners downgraded enGene Holdings Inc. (ENGN) from outperform to market perform and set a $2.00 price target, reinforcing a cautious outlook. Leerink Partners downgrades enGene
• Negative Sentiment: A shareholder investigation was announced by Johnson Fistel into potential claims involving enGene Holdings Inc. (ENGN), which can add legal overhang and uncertainty for investors. Shareholder investigation announcement

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. The company was founded in 2023 and is based in Saint-Laurent, Canada.