Analysts Initiate Coverage on Enzo Biochem (NYSE:ENZ)

StockNews.com has begun coverage of Enzo Biochem (NYSE:ENZ – Free Report) following a report released on Thursday. The analysts assigned a hold rating to the stock of this medical research company.

Recent Stock Performance

On Thursday, shares of Enzo Biochem opened at $0.72, reflecting a 0.8% increase. The company’s stock has seen a 12-month low of $0.68 and a high of $1.50 during this period. Currently, the stock’s 50-day moving average stands at $0.98, while the 200-day moving average is $1.07.

Latest Earnings Report

Enzo Biochem recently released its earnings results on December 16. The company reported a loss of ($0.05) earnings per share for the quarter. Enzo Biochem has experienced significant challenges, as reflected in its negative net margin of 81.73% and a negative return on equity of 11.84%.

Dividend Announcement

Moreover, the company has announced a quarterly dividend, which was distributed on December 2. Shareholders on record as of November 15 received a dividend payout of $0.10. This translates to an annualized dividend of $0.40, resulting in an impressive dividend yield of 55.55%.

Institutional Investors Activity

In terms of ownership, several institutional investors have recently altered their positions in Enzo Biochem. Notably, XTX Topco Ltd boosted its stake in the company by 94.5% during the second quarter, acquiring a total of 28,262 shares valued at around $31,000. BBR Partners LLC has also initiated a new position worth approximately $112,000 in the third quarter. Additionally, Geode Capital Management LLC raised its stake by 3.3%, now holding 368,646 shares valued at $413,000 after purchasing an additional 11,742 shares. Renaissance Technologies LLC similarly increased its holding by 2.6%, amassing 2,499,546 shares valued at $2,725,000. Overall, around 36.90% of Enzo Biochem shares are owned by institutional investors and hedge funds.

Overview of Enzo Biochem

Enzo Biochem, Inc. is engaged in the development, manufacturing, and marketing of products and tools tailored for clinical research, translational research, drug development, and bioscience research on a global scale. The company offers a diverse range of products, including proteins, antibodies, peptides, small molecules, labeling probes, dyes, and kits. These tools support life science researchers in activities such as target identification and validation, content analysis, gene expression analysis, nucleic acid detection, protein biochemistry and detection, as well as cellular analysis.

Enzo, Biochem, Stocks