Cormorant Asset Management LP Acquires 1,676,405 Shares of enGene Holdings Inc. $ENGN

Cormorant Asset Management LP lifted its holdings in shares of enGene Holdings Inc. (NASDAQ:ENGN) by 72.1% during the 4th quarter, Holdings Channel reports. The firm owned 4,000,000 shares of the company’s stock after purchasing an additional 1,676,405 shares during the period. enGene makes up 1.7% of Cormorant Asset Management LP’s holdings, making the stock its 12th largest holding. Cormorant Asset Management LP owned approximately 0.06% of enGene worth $36,120,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Cresset Asset Management LLC bought a new position in enGene in the 2nd quarter valued at about $36,000. Raymond James Financial Inc. increased its holdings in enGene by 383.6% in the 3rd quarter. Raymond James Financial Inc. now owns 10,000 shares of the company’s stock valued at $68,000 after buying an additional 7,932 shares during the period. Paloma Partners Management Co bought a new position in enGene in the 2nd quarter valued at about $38,000. PFS Partners LLC increased its holdings in enGene by 22.2% in the 4th quarter. PFS Partners LLC now owns 11,000 shares of the company’s stock valued at $99,000 after buying an additional 2,000 shares during the period. Finally, Hudson Bay Capital Management LP bought a new position in enGene in the 3rd quarter valued at about $76,000. 64.16% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ENGN has been the topic of several recent analyst reports. Wells Fargo & Company reissued an “equal weight” rating and issued a $2.00 target price (down from $25.00) on shares of enGene in a report on Friday, May 8th. Leerink Partners lowered shares of enGene from an “outperform” rating to a “market perform” rating and set a $2.00 target price on the stock. in a report on Friday, May 8th. Wall Street Zen lowered shares of enGene from a “hold” rating to a “sell” rating in a report on Saturday, April 18th. Guggenheim lowered shares of enGene from a “buy” rating to a “neutral” rating in a report on Thursday, May 7th. Finally, Morgan Stanley lowered shares of enGene to an “underweight” rating in a report on Thursday. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $12.50.

enGene Stock Down 0.6%

Shares of NASDAQ ENGN opened at $1.74 on Thursday. The company has a market capitalization of $116.56 million, a P/E ratio of -0.80 and a beta of -0.30. enGene Holdings Inc. has a 52-week low of $1.40 and a 52-week high of $12.25. The company has a debt-to-equity ratio of 0.10, a quick ratio of 11.75 and a current ratio of 12.57. The company’s 50 day moving average price is $4.10 and its 200-day moving average price is $7.10.

enGene (NASDAQ:ENGN) last released its quarterly earnings data on Monday, June 15th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.91. During the same quarter in the prior year, the business posted $0.51 earnings per share. Equities analysts forecast that enGene Holdings Inc. will post -1.97 earnings per share for the current year.

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.