enGene (NASDAQ:ENGN) Upgraded at Wells Fargo & Company

enGene (NASDAQ:ENGN) was upgraded by equities research analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The brokerage currently has a $6.00 price target on the stock, up from their prior price target of $2.00. Wells Fargo & Company‘s price objective would suggest a potential upside of 233.33% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings cut enGene from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 30th. HC Wainwright reissued a “buy” rating on shares of enGene in a research note on Friday, October 16th. Citigroup lowered enGene from a “market perform” rating to a “hold” rating in a research note on Friday, October 16th. Wall Street Zen upgraded enGene from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. Finally, Jefferies Financial Group raised enGene to a “strong-buy” rating in a research note on Tuesday, October 13th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $10.45.

enGene Stock Performance

ENGN opened at $1.80 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 10.21 and a current ratio of 10.21. The stock has a market capitalization of $120.64 million, a price-to-earnings ratio of -0.87 and a beta of -0.24. The company has a fifty day moving average of $1.77 and a 200 day moving average of $4.06. enGene has a fifty-two week low of $1.40 and a fifty-two week high of $12.25.

enGene (NASDAQ:ENGN) last announced its quarterly earnings results on Tuesday, September 8th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.04). As a group, sell-side analysts forecast that enGene will post -1.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On enGene

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Monashee Investment Management LLC increased its holdings in shares of enGene by 8.5% in the 1st quarter. Monashee Investment Management LLC now owns 320,000 shares of the company’s stock worth $2,179,000 after buying an additional 25,000 shares during the last quarter. Dimensional Fund Advisors LP purchased a new stake in shares of enGene during the 1st quarter valued at about $251,000. Eversept Partners LP lifted its holdings in shares of enGene by 12.0% in the 1st quarter. Eversept Partners LP now owns 510,543 shares of the company’s stock valued at $3,477,000 after acquiring an additional 54,708 shares during the last quarter. Sei Investments Co. purchased a new position in enGene in the first quarter worth about $409,000. Finally, Renaissance Technologies LLC grew its position in enGene by 651.1% in the first quarter. Renaissance Technologies LLC now owns 156,100 shares of the company’s stock worth $1,063,000 after acquiring an additional 135,318 shares in 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.