UBS Group Downgrades enGene (NASDAQ:ENGN) to Neutral

UBS Group downgraded shares of enGene (NASDAQ:ENGN) from a buy rating to a neutral rating in a research report released on Friday morning, Marketbeat Ratings reports. UBS Group currently has $7.00 price objective on the stock, down from their previous price objective of $34.00.

Several other equities analysts have also weighed in on ENGN. HC Wainwright initiated coverage on enGene in a research note on Monday, December 23rd. They issued a “buy” rating and a $25.00 price target for the company. Raymond James initiated coverage on enGene in a research note on Wednesday, November 27th. They issued an “outperform” rating and a $23.00 price target for the company. JMP Securities restated a “market outperform” rating and issued a $18.00 price target on shares of enGene in a research note on Monday, December 23rd. Finally, Citizens Jmp upgraded enGene to a “strong-buy” rating in a research note on Monday, November 18th. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $26.44.

enGene Trading Down 5.6 %

NASDAQ ENGN opened at $5.90 on Friday. The stock has a 50-day simple moving average of $6.93 and a two-hundred day simple moving average of $7.30. enGene has a fifty-two week low of $4.42 and a fifty-two week high of $18.40. The company has a current ratio of 16.87, a quick ratio of 16.87 and a debt-to-equity ratio of 0.08.

enGene (NASDAQ:ENGN) last announced its quarterly earnings results on Thursday, December 19th. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.06. As a group, equities research analysts forecast that enGene will post -1.57 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. boosted its holdings in shares of 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 purchasing an additional 389,918 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of 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 purchasing an additional 619,100 shares during the last quarter. Wolverine Asset Management LLC acquired a new position in shares of enGene during the 3rd quarter worth approximately $37,000. Jane Street Group LLC acquired a new position in shares of enGene during the 4th quarter worth approximately $93,000. Finally, Blue Owl Capital Holdings LP boosted its holdings in shares of enGene by 3.3% during the 4th quarter. Blue Owl Capital Holdings LP now owns 3,159,975 shares of the company’s stock worth $21,014,000 after purchasing an additional 101,006 shares during the last quarter. 64.16% of the stock is currently 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.