enGene (NASDAQ:ENGN) Downgraded to Neutral Rating by UBS Group

enGene (NASDAQ:ENGN) was downgraded by analysts at UBS Group from a “buy” rating to a “neutral” rating in a report issued on Friday,Briefing.com Automated Import reports. They presently have a $7.00 target price on the stock, down from their prior target price of $34.00. UBS Group’s price target points to a potential upside of 12.00% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Raymond James started coverage on enGene in a research report on Wednesday, November 27th. They set an “outperform” rating and a $23.00 price objective for the company. Citizens Jmp upgraded enGene to a “strong-buy” rating in a report on Monday, November 18th. HC Wainwright assumed coverage on shares of enGene in a research note on Monday, December 23rd. They issued a “buy” rating and a $25.00 price objective on the stock. Finally, JMP Securities reiterated a “market outperform” rating and set a $18.00 target price on shares of enGene in a research note on Monday, December 23rd. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $26.44.

enGene Price Performance

ENGN opened at $6.25 on Friday. The stock has a market cap of $276.38 million, a price-to-earnings ratio of -10.78 and a beta of -0.65. The stock has a fifty day moving average price of $6.98 and a 200 day moving average price of $7.31. enGene has a 1 year low of $4.42 and a 1 year high of $18.40. The company has a current ratio of 16.87, a quick ratio of 16.87 and a debt-to-equity ratio of 0.08.

enGene (NASDAQ:ENGN) last posted its earnings results on Thursday, December 19th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.06. Analysts forecast that enGene will post -1.57 EPS for the current fiscal year.

Hedge Funds Weigh In On enGene

Hedge funds and other institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. increased its stake in enGene by 48.7% in the third quarter. Franklin Resources Inc. now owns 1,189,952 shares of the company’s stock valued at $7,854,000 after acquiring an additional 389,918 shares during the period. Point72 Asset Management L.P. boosted its holdings in enGene by 1,410.3% during the third quarter. Point72 Asset Management L.P. now owns 663,000 shares of the company’s stock valued at $4,376,000 after purchasing an additional 619,100 shares in the last quarter. Vontobel Holding Ltd. bought a new stake in shares of enGene in the 4th quarter valued at approximately $69,000. Finally, Wolverine Asset Management LLC acquired a new position in shares of enGene in the 3rd quarter worth approximately $37,000. 64.16% of the stock is owned by institutional investors.

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.