enGene (NASDAQ:ENGN) Upgraded to Overweight at Wells Fargo & Company

enGene (NASDAQ:ENGN) was upgraded by research analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Thursday, MarketBeat reports. The brokerage presently has a $6.00 price objective on the stock, up from their prior price objective of $2.00. Wells Fargo & Company‘s target price would suggest a potential upside of 233.33% from the company’s current price.

Other equities analysts have also issued research reports about the company. Citizens Jmp reissued a “market perform” rating on shares of enGene in a research report on Wednesday, September 9th. Jefferies Financial Group upgraded enGene to a “strong-buy” rating in a research note on Tuesday, October 13th. Weiss Ratings cut enGene from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 30th. Piper Sandler raised enGene from a “neutral” rating to an “overweight” rating and set a $4.00 price objective on the stock in a research note on Thursday. Finally, Wall Street Zen raised enGene from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $10.45.

enGene Stock Performance

Shares of ENGN opened at $1.80 on Thursday. The business’s fifty day simple moving average is $1.77 and its two-hundred day simple moving average is $4.06. The company has a current ratio of 10.21, a quick ratio of 10.21 and a debt-to-equity ratio of 0.11. enGene has a 12 month low of $1.40 and a 12 month high of $12.25. The company has a market cap of $120.64 million, a price-to-earnings ratio of -0.87 and a beta of -0.24.

enGene (NASDAQ:ENGN) last posted its quarterly earnings results on Tuesday, September 8th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.04). Research analysts anticipate that enGene will post -1.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On enGene

A number of institutional investors have recently bought and sold shares of the business. Monashee Investment Management LLC lifted its position in shares of enGene by 8.5% in the first quarter. Monashee Investment Management LLC now owns 320,000 shares of the company’s stock valued at $2,179,000 after acquiring an additional 25,000 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in shares of enGene in the first quarter worth about $251,000. Eversept Partners LP boosted its stake in shares of enGene by 12.0% in the first quarter. Eversept Partners LP now owns 510,543 shares of the company’s stock worth $3,477,000 after acquiring an additional 54,708 shares during the period. Sei Investments Co. purchased a new stake in shares of enGene during the first quarter worth about $409,000. Finally, Renaissance Technologies LLC grew its position in shares of enGene by 651.1% during the first quarter. Renaissance Technologies LLC now owns 156,100 shares of the company’s stock worth $1,063,000 after purchasing an additional 135,318 shares in the last quarter. Hedge funds and other institutional investors own 64.16% of the company’s stock.

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.