enGene (NASDAQ:ENGN) Announces Quarterly Earnings Results

enGene (NASDAQ:ENGN) posted its quarterly earnings results on Thursday. The company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.06, Zacks reports.

enGene Price Performance

NASDAQ ENGN opened at $5.83 on Friday. The company’s 50 day moving average is $8.13 and its two-hundred day moving average is $7.80. enGene has a 12 month low of $4.42 and a 12 month high of $18.40. The stock has a market cap of $257.78 million, a price-to-earnings ratio of -10.05 and a beta of -0.78. The company has a current ratio of 19.52, a quick ratio of 19.52 and a debt-to-equity ratio of 0.09.

Insider Buying and Selling

In related news, CEO Ronald Harold Wilfred Cooper purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were bought at an average price of $5.70 per share, for a total transaction of $57,000.00. Following the acquisition, the chief executive officer now owns 10,000 shares of the company’s stock, valued at approximately $57,000. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Growth Opportunities F. Forbion purchased 11,844 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were purchased at an average price of $6.55 per share, for a total transaction of $77,578.20. Following the completion of the acquisition, the insider now directly owns 2,469,833 shares in the company, valued at $16,177,406.15. The trade was a 0.48 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 420,965 shares of company stock worth $2,651,103. 13.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Raymond James began coverage on enGene in a research note on Wednesday, November 27th. They set an “outperform” rating and a $23.00 target price on the stock. Oppenheimer reiterated an “outperform” rating and issued a $30.00 price objective on shares of enGene in a report on Tuesday, September 24th. Citizens Jmp raised shares of enGene to a “strong-buy” rating in a report on Monday, November 18th. Morgan Stanley reissued an “overweight” rating and set a $40.00 price objective on shares of enGene in a report on Wednesday, September 11th. Finally, JMP Securities restated a “market outperform” rating and issued a $18.00 target price on shares of enGene in a report on Friday, December 6th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $30.38.

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.