Piper Sandler analyst Allison Bratzel downgraded Engene Holdings Inc. (NASDAQ: ENGN) from Overweight to Neutral with a price target of $4.00 (from $7.00).

The analyst comments: “We are downgrading ENGN to Neutral after taking some additional time to digest the interim data and speaking with management (see initial note here). We have trouble seeing how the 24.5% KM estimate for 12-mo CR can realistically hold, and cannot get comfortable that detalimogene will have a competitive profile when complete data is available in 2H26. We hope to be proven wrong, but given this uncertainty, coupled with uncertainty on the CMO role (see 8-K language detailing an updated employment agreement that creates an exit path after June 1), we are moving to the sidelines with a new $4/sh PT.”

For an analyst ratings summary and ratings history on Engene Holdings Inc. click here. For more ratings news on Engene Holdings Inc. click here.

Shares of Engene Holdings Inc. closed at $1.72 yesterday.