enGene (NASDAQ:ENGN) Now Covered by Oppenheimer

Equities researchers at Oppenheimer began coverage on shares of enGene (NASDAQ:ENGN) in a report issued on Wednesday, Benzinga reports. The brokerage set an “outperform” rating and a $30.00 price target on the stock. Oppenheimer’s price target indicates a potential upside of 359.42% from the company’s previous close.

enGene Price Performance

Shares of enGene stock opened at $6.53 on Wednesday. The firm has a market cap of $288.40 million, a price-to-earnings ratio of -4.01 and a beta of -0.63. The stock has a 50-day simple moving average of $8.03 and a 200-day simple moving average of $12.12. enGene has a 52-week low of $4.94 and a 52-week high of $43.00.

enGene (NASDAQ:ENGN) last issued its quarterly earnings data on Friday, June 14th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.14). As a group, equities research analysts predict that enGene will post -1.33 earnings per share for the current year.

Hedge Funds Weigh In On enGene

Several hedge funds have recently bought and sold shares of ENGN. Altitude Crest Partners Inc. acquired a new position in shares of enGene during the 1st quarter valued at about $2,039,000. SR One Capital Management LP acquired a new position in enGene during the second quarter valued at approximately $4,715,000. Vivo Capital LLC bought a new position in shares of enGene in the fourth quarter valued at approximately $6,264,000. Omega Fund Management LLC bought a new position in shares of enGene in the fourth quarter valued at approximately $10,441,000. Finally, Logos Global Management LP boosted its holdings in shares of enGene by 50.0% during the 2nd quarter. Logos Global Management LP now owns 1,200,000 shares of the company’s stock worth $11,316,000 after buying an additional 400,000 shares during the period. 64.16% of the stock is owned by institutional investors and hedge funds.

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.