enGene (NASDAQ:ENGN) Coverage Initiated by Analysts at Oppenheimer

Oppenheimer assumed coverage on shares of enGene (NASDAQ:ENGN) in a research note published on Wednesday, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $30.00 price objective on the stock.

enGene Price Performance

Shares of enGene stock opened at $6.98 on Wednesday. The company has a market capitalization of $308.28 million, a P/E ratio of -4.28 and a beta of -0.63. The business has a 50-day moving average of $7.91 and a two-hundred day moving average of $12.04. enGene has a 1 year low of $4.94 and a 1 year high of $43.00.

enGene (NASDAQ:ENGN) last announced its earnings results on Friday, June 14th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.14). On average, equities analysts anticipate that enGene will post -1.33 EPS for the current fiscal year.

Hedge Funds Weigh In On enGene

A number of large investors have recently added to or reduced their stakes in the company. Logos Global Management LP lifted its holdings in shares of enGene by 50.0% in the second quarter. Logos Global Management LP now owns 1,200,000 shares of the company’s stock valued at $11,316,000 after purchasing an additional 400,000 shares in the last quarter. SR One Capital Management LP acquired a new stake in enGene in the 2nd quarter valued at approximately $4,715,000. Janus Henderson Group PLC bought a new stake in enGene in the 1st quarter valued at approximately $17,095,000. Altitude Crest Partners Inc. acquired a new position in enGene during the 1st quarter worth approximately $2,039,000. Finally, Omega Fund Management LLC bought a new position in shares of enGene during the 4th quarter worth approximately $10,441,000. Institutional investors own 64.16% of the company’s stock.

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.