JMP Securities Initiates Coverage on enGene (NASDAQ:ENGN)

JMP Securities started coverage on shares of enGene (NASDAQ:ENGN) in a research note issued to investors on Monday morning, MarketBeat reports. The brokerage issued an outperform rating and a $18.00 target price on the stock.

ENGN has been the topic of a number of other reports. Oppenheimer reaffirmed an “outperform” rating and issued a $30.00 price objective on shares of enGene in a research note on Tuesday, September 24th. Morgan Stanley reissued an “overweight” rating and issued a $40.00 price objective on shares of enGene in a research report on Wednesday, September 11th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $31.43.

enGene Price Performance

Shares of ENGN opened at $7.67 on Monday. The firm has a 50 day simple moving average of $7.73 and a two-hundred day simple moving average of $8.58. enGene has a one year low of $4.42 and a one year high of $18.40. The company has a debt-to-equity ratio of 0.09, a quick ratio of 19.52 and a current ratio of 19.52.

enGene (NASDAQ:ENGN) last announced its quarterly earnings results on Tuesday, September 10th. The company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.05. On average, equities research analysts anticipate that enGene will post -1.54 EPS for the current year.

Insider Activity at enGene

In other enGene news, major shareholder Growth Opportunities F. Forbion acquired 11,844 shares of enGene stock in a transaction dated Monday, October 7th. The stock was purchased at an average cost of $6.55 per share, for a total transaction of $77,578.20. Following the completion of the acquisition, the insider now directly owns 2,469,833 shares of the company’s stock, valued at $16,177,406.15. This represents a 0.48 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ronald Harold Wilfred Cooper bought 10,000 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were acquired at an average cost of $5.70 per share, with a total value of $57,000.00. Following the completion of the transaction, the chief executive officer now owns 10,000 shares of the company’s stock, valued at $57,000. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 420,965 shares of company stock valued at $2,651,103 in the last three months. Corporate insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On enGene

A number of hedge funds have recently added to or reduced their stakes in the stock. Altitude Crest Partners Inc. bought a new position in enGene during the 1st quarter valued at $2,039,000. Janus Henderson Group PLC bought a new position in shares of enGene during the first quarter valued at about $17,095,000. SR One Capital Management LP purchased a new position in enGene during the second quarter worth about $4,715,000. Logos Global Management LP increased its stake in enGene by 50.0% in the 2nd quarter. Logos Global Management LP now owns 1,200,000 shares of the company’s stock valued at $11,316,000 after buying an additional 400,000 shares during the last quarter. Finally, Wolverine Asset Management LLC bought a new position in shares of enGene during the 3rd quarter worth approximately $37,000. Institutional investors and hedge funds own 64.16% of the company’s stock.

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.