enGene downgraded to Equal Weight from Overweight at Wells Fargo

Wells Fargo downgraded enGene (ENGN) to Equal Weight from Overweight with a price target of $2, down from $25. The company’s efficacy data for detalimogene is weaker than the last update and lags the competition, the analyst tells investors in a research note. Wells now sees increased uncertainty in detalimogene’s competitive profile.