enGene (NASDAQ:ENGN) Lowered to “Neutral” Rating by UBS Group

enGene (NASDAQ:ENGN) was downgraded by research analysts at UBS Group from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. They presently have a $7.00 price target on the stock, down from their previous price target of $34.00. UBS Group’s target price would suggest a potential upside of 12.00% from the stock’s current price.

A number of other research analysts have also recently issued reports on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $18.00 price target on shares of enGene in a report on Monday, December 23rd. Raymond James assumed coverage on shares of enGene in a report on Wednesday, November 27th. They issued an “outperform” rating and a $23.00 price target for the company. HC Wainwright started coverage on enGene in a report on Monday, December 23rd. They set a “buy” rating and a $25.00 price objective on the stock. Finally, Citizens Jmp raised 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $26.44.

enGene Price Performance

Shares of enGene stock opened at $6.25 on Friday. enGene has a 1-year low of $4.42 and a 1-year high of $18.40. The firm’s 50-day moving average price is $6.98 and its two-hundred day moving average price is $7.31. The company has a current ratio of 16.87, a quick ratio of 16.87 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $276.38 million, a price-to-earnings ratio of -10.78 and a beta of -0.65.

enGene (NASDAQ:ENGN) last released its quarterly earnings results on Thursday, December 19th. The company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.06. On average, equities analysts predict that enGene will post -1.57 earnings per share for the current fiscal year.

Institutional Trading of enGene

Institutional investors and hedge funds have recently modified their holdings of the stock. Wolverine Asset Management LLC bought a new stake in enGene in the third quarter valued at approximately $37,000. Point72 Asset Management L.P. increased its position in shares of enGene by 1,410.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 663,000 shares of the company’s stock valued at $4,376,000 after buying an additional 619,100 shares in the last quarter. Franklin Resources Inc. increased its position in shares of enGene by 48.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,189,952 shares of the company’s stock valued at $7,854,000 after buying an additional 389,918 shares in the last quarter. Finally, Vontobel Holding Ltd. acquired a new stake in enGene during the 4th quarter worth $69,000. 64.16% of the stock is owned by 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.