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

enGene (NASDAQ:ENGN) 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.

enGene (NASDAQ:ENGN) 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.