enGene Holdings Inc. (NASDAQ:ENGN) Receives $25.22 Average Target Price from Analysts

enGene Holdings Inc. (NASDAQ:ENGN) has earned a consensus recommendation of “Buy” from the ten analysts that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $25.22.

ENGN has been the subject of a number of analyst reports. JMP Securities restated a “market outperform” rating and set a $18.00 price objective on shares of enGene in a report on Monday, December 23rd. Morgan Stanley lowered their price objective on shares of enGene from $37.00 to $34.00 and set an “overweight” rating for the company in a research report on Tuesday, March 11th. HC Wainwright reiterated a “buy” rating and set a $25.00 target price on shares of enGene in a report on Tuesday, March 11th. UBS Group lowered enGene from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $34.00 to $7.00 in a research report on Friday, February 14th. Finally, Piper Sandler began coverage on enGene in a report on Tuesday, February 18th. They set an “overweight” rating and a $26.00 price objective on the stock.

enGene Price Performance

Shares of ENGN opened at $4.00 on Thursday. The stock has a market cap of $203.91 million, a P/E ratio of -6.90 and a beta of -0.38. enGene has a 1 year low of $3.50 and a 1 year high of $16.62. The stock’s 50-day moving average price is $5.31 and its two-hundred day moving average price is $6.79. The company has a current ratio of 16.87, a quick ratio of 16.87 and a debt-to-equity ratio of 0.08.

Hedge Funds Weigh In On enGene

Several hedge funds and other institutional investors have recently made changes to their positions in ENGN. Deep Track Capital LP boosted its stake in shares of enGene by 74.8% during the 4th quarter. Deep Track Capital LP now owns 4,557,575 shares of the company’s stock worth $30,308,000 after acquiring an additional 1,949,942 shares during the period. VR Adviser LLC boosted its position in enGene by 41.5% during the fourth quarter. VR Adviser LLC now owns 5,046,414 shares of the company’s stock worth $33,559,000 after purchasing an additional 1,480,573 shares during the period. Fcpm Iii Services B.V. increased its holdings in shares of enGene by 11.0% in the fourth quarter. Fcpm Iii Services B.V. now owns 9,632,561 shares of the company’s stock valued at $64,057,000 after purchasing an additional 954,610 shares during the last quarter. Orbimed Advisors LLC bought a new position in shares of enGene in the fourth quarter valued at about $6,120,000. Finally, Point72 Asset Management L.P. raised its position in shares of enGene by 84.7% in the fourth quarter. Point72 Asset Management L.P. now owns 1,224,797 shares of the company’s stock valued at $8,145,000 after purchasing an additional 561,797 shares during the period. 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.