enGene (NASDAQ:ENGN) Downgraded to “Equal Weight” Rating by Morgan Stanley

Morgan Stanley cut shares of enGene (NASDAQ:ENGN) from an overweight rating to an equal weight rating in a research note issued to investors on Friday, Marketbeat reports.

A number of other equities research analysts have also issued reports on ENGN. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of enGene in a research report on Wednesday, April 8th. Oppenheimer lowered shares of enGene from an “outperform” rating to a “market perform” rating in a research note on Friday. Citigroup cut shares of enGene from a “market outperform” rating to a “market perform” rating in a report on Friday. Wells Fargo & Company reiterated an “equal weight” rating and set a $2.00 price target (down from $25.00) on shares of enGene in a report on Friday. Finally, Jefferies Financial Group began coverage on shares of enGene in a research report on Friday, January 30th. They issued a “buy” rating and a $28.00 price objective on the stock. Four investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, enGene currently has a consensus rating of “Hold” and an average target price of $13.41.

enGene Stock Performance

NASDAQ:ENGN opened at $1.50 on Friday. enGene has a 52 week low of $1.45 and a 52 week high of $12.25. The company has a fifty day simple moving average of $7.60 and a two-hundred day simple moving average of $8.30. The company has a quick ratio of 11.75, a current ratio of 11.75 and a debt-to-equity ratio of 0.09. The company has a market cap of $100.49 million, a price-to-earnings ratio of -0.67 and a beta of -0.02.

enGene (NASDAQ:ENGN) last announced its quarterly earnings data on Monday, March 9th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.11. As a group, equities analysts anticipate that enGene will post -2.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On enGene

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Perceptive Advisors LLC lifted its stake in enGene by 179.8% during the fourth quarter. Perceptive Advisors LLC now owns 5,869,076 shares of the company’s stock worth $52,998,000 after purchasing an additional 3,771,840 shares during the last quarter. Siren L.L.C. acquired a new stake in enGene during the fourth quarter worth approximately $30,126,000. Braidwell LP acquired a new stake in enGene during the third quarter worth approximately $15,479,000. Janus Henderson Group PLC purchased a new stake in shares of enGene during the 4th quarter worth approximately $17,110,000. Finally, Cormorant Asset Management LP lifted its position in shares of enGene by 72.1% during the 4th quarter. Cormorant Asset Management LP now owns 4,000,000 shares of the company’s stock worth $36,120,000 after buying an additional 1,676,405 shares during the last quarter. Institutional investors and hedge funds own 64.16% of the company’s stock.

enGene News Roundup

Here are the key news stories impacting enGene this week:

• Positive Sentiment: HC Wainwright kept a buy rating on enGene Holdings Inc. (ENGN), though it lowered its price target to $6.00 from $25.00, implying meaningful upside from the current share price. HC Wainwright lowers price target but keeps buy rating
• Neutral Sentiment: Citizens JMP reaffirmed its market perform rating on enGene Holdings Inc. (ENGN), signaling a neutral stance on the shares. Citizens JMP reaffirms market perform
• Negative Sentiment: Oppenheimer downgraded enGene Holdings Inc. (ENGN) from outperform to market perform, adding to concerns about near-term upside. Oppenheimer downgrades enGene
• Negative Sentiment: Morgan Stanley cut enGene Holdings Inc. (ENGN) from overweight to equal weight, another sign that analysts are becoming less constructive. Morgan Stanley downgrades enGene
• Negative Sentiment: Leerink Partners downgraded enGene Holdings Inc. (ENGN) from outperform to market perform and set a $2.00 price target, reinforcing a cautious outlook. Leerink Partners downgrades enGene
• Negative Sentiment: A shareholder investigation was announced by Johnson Fistel into potential claims involving enGene Holdings Inc. (ENGN), which can add legal overhang and uncertainty for investors. Shareholder investigation announcement

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.