enGene (NASDAQ:ENGN) Shares Gap Down – Here’s Why

enGene Holdings Inc. (NASDAQ:ENGN) gapped down before the market opened on Monday . The stock had previously closed at $8.68, but opened at $8.06. enGene shares last traded at $7.67, with a volume of 351,577 shares.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ENGN shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of enGene in a report on Friday, January 9th. Citigroup restated a “market outperform” rating on shares of enGene in a research report on Monday, January 5th. Citizens Jmp upped their price target on shares of enGene from $18.00 to $21.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 12th. Jefferies Financial Group assumed coverage on enGene in a research note on Friday, January 30th. They issued a “buy” rating and a $28.00 price target for the company. Finally, HC Wainwright reissued a “buy” rating and set a $25.00 price objective on shares of enGene in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, enGene currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.29.

enGene Trading Down 10.7%

The company has a current ratio of 6.30, a quick ratio of 6.30 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $519.31 million, a price-to-earnings ratio of -3.39 and a beta of -0.29. The firm’s 50-day moving average is $9.58 and its 200 day moving average is $8.07.

enGene (NASDAQ:ENGN) last released its quarterly earnings results on Monday, December 22nd. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.18). On average, equities analysts predict that enGene Holdings Inc. will post -1.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On enGene

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Affinity Asset Advisors LLC acquired a new position in shares of enGene in the second quarter worth approximately $280,000. Elmind Capital LP acquired a new stake in enGene during the 4th quarter valued at approximately $1,896,000. Eversept Partners LP bought a new position in enGene during the 4th quarter worth approximately $4,116,000. Cormorant Asset Management LP lifted its position in shares of enGene by 72.1% in the 4th quarter. Cormorant Asset Management LP now owns 4,000,000 shares of the company’s stock worth $36,120,000 after purchasing an additional 1,676,405 shares during the period. Finally, Omega Fund Management LLC lifted its position in shares of enGene by 66.5% in the 4th quarter. Omega Fund Management LLC now owns 876,357 shares of the company’s stock worth $7,914,000 after purchasing an additional 350,000 shares during the period. Institutional investors and hedge funds own 64.16% of the company’s stock.

enGene Company Profile

enGene, Inc is a clinical‐stage biopharmaceutical company focused on the development of gene‐based therapeutics for oncology. The company’s core technology is the EnGene Delivery Vehicle (EDV) platform, which employs nonliving, bacterially derived minicells to transport therapeutic payloads directly to tumor cells. By combining targeted delivery with potent payloads, enGene aims to improve the precision and efficacy of cancer treatments while reducing off‐target toxicity.

Through its EDV platform, enGene has advanced multiple therapeutic candidates into preclinical and clinical stages.