enGene (NASDAQ:ENGN) Shares Gap Down – Should You Sell?

enGene Holdings Inc. (NASDAQ:ENGN)’s share price gapped down before the market opened on Monday . The stock had previously closed at $8.92, but opened at $8.48. enGene shares last traded at $8.37, with a volume of 4,069 shares changing hands.

Analysts Set New Price Targets

A number of research firms have commented on ENGN. Raymond James Financial raised shares of enGene from an “outperform” rating to a “strong-buy” rating and set a $27.00 price objective for the company in a research report on Tuesday, November 11th. Morgan Stanley upped their price target on shares of enGene from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Wednesday, November 12th. HC Wainwright reissued a “buy” rating and issued a $25.00 price target on shares of enGene in a report on Wednesday, December 3rd. Citigroup restated a “market outperform” rating on shares of enGene in a report on Wednesday, November 12th. Finally, UBS Group lifted their price target on enGene from $4.00 to $10.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.38.

enGene Trading Down 0.9%

The company has a debt-to-equity ratio of 0.09, a current ratio of 10.34 and a quick ratio of 10.34. The company has a market capitalization of $541.18 million, a price-to-earnings ratio of -4.43 and a beta of -0.28. The business’s 50-day moving average price is $7.84 and its two-hundred day moving average price is $5.61.

enGene (NASDAQ:ENGN) last posted its quarterly earnings data on Thursday, September 11th. The company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.06). Research analysts predict that enGene Holdings Inc. will post -1.56 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ENGN. Cresset Asset Management LLC acquired a new stake in enGene during the second quarter worth about $36,000. Paloma Partners Management Co acquired a new stake in shares of enGene during the 2nd quarter worth approximately $38,000. PFS Partners LLC acquired a new stake in shares of enGene during the 3rd quarter worth approximately $61,000. Raymond James Financial Inc. increased its stake in enGene by 383.6% in the third quarter. Raymond James Financial Inc. now owns 10,000 shares of the company’s stock valued at $68,000 after acquiring an additional 7,932 shares during the last quarter. Finally, ADAR1 Capital Management LLC acquired a new position in enGene during the first quarter valued at approximately $107,000. 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.