Morgan Stanley Has Lowered Expectations for enGene (NASDAQ:ENGN) Stock Price

enGene (NASDAQ:ENGN - Get Free Report) had its target price reduced by research analysts at Morgan Stanley from $37.00 to $34.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock.

ENGN has been the subject of a number of other research reports. HC Wainwright reissued a "buy" rating and set a $25.00 target price on shares of enGene in a research note on Tuesday. Citizens Jmp upgraded shares of enGene to a "strong-buy" rating in a research note on Monday, November 18th. UBS Group lowered enGene from a "buy" rating to a "neutral" rating and lowered their price target for the company from $34.00 to $7.00 in a research note on Friday, February 14th. Raymond James began coverage on shares of enGene in a research note on Wednesday, November 27th. They issued an "outperform" rating and a $23.00 target price on the stock. Finally, JMP Securities restated a "market outperform" rating and issued a $18.00 price target on shares of enGene in a research report on Monday, December 23rd. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, enGene presently has an average rating of "Buy" and an average price target of $25.22.

enGene Stock Down 5.2 %

Shares of ENGN traded down $0.27 during midday trading on Tuesday, hitting $4.97. The company had a trading volume of 10,566 shares, compared to its average volume of 131,336. The company has a quick ratio of 16.87, a current ratio of 16.87 and a debt-to-equity ratio of 0.08. The company's 50 day moving average price is $6.65 and its 200 day moving average price is $7.16. enGene has a 52 week low of $4.42 and a 52 week high of $18.40. The stock has a market cap of $253.36 million, a price-to-earnings ratio of -8.57 and a beta of -0.61.

Remove Ads

enGene (NASDAQ:ENGN - Get Free Report) last released its quarterly earnings results on Thursday, December 19th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.06. On average, equities research analysts predict that enGene will post -1.56 EPS for the current year.

Institutional Investors Weigh In On enGene

Several hedge funds have recently added to or reduced their stakes in the business. Wolverine Asset Management LLC acquired a new position in shares of enGene in the 3rd quarter valued at about $37,000. Vontobel Holding Ltd. purchased a new position in enGene during the 4th quarter worth $69,000. Jane Street Group LLC purchased a new stake in enGene in the 4th quarter valued at about $93,000. Toronto Dominion Bank bought a new stake in enGene during the fourth quarter worth $97,000. Finally, Cubist Systematic Strategies LLC grew its position in enGene by 15.7% during the fourth quarter. Cubist Systematic Strategies LLC now owns 15,342 shares of the company's stock valued at $102,000 after buying an additional 2,080 shares during the period. 64.16% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.