enGene Holdings Inc. (NASDAQ:ENGN) Sees Large Decline in Short Interest

enGene Holdings Inc. (NASDAQ:ENGN) was the recipient of a large decline in short interest in the month of February. As of February 13th, there was short interest totaling 1,501,696 shares, a decline of 31.5% from the January 29th total of 2,192,033 shares. Currently, 2.5% of the company’s shares are short sold. Based on an average daily trading volume, of 327,514 shares, the short-interest ratio is currently 4.6 days. Based on an average daily trading volume, of 327,514 shares, the short-interest ratio is currently 4.6 days. Currently, 2.5% of the company’s shares are short sold.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ENGN. Morgan Stanley boosted their price target on shares of enGene from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Wednesday, November 12th. Raymond James Financial raised enGene from an “outperform” rating to a “strong-buy” rating and set a $27.00 target price on the stock in a research report on Tuesday, November 11th. Oppenheimer restated an “outperform” rating and set a $33.00 price target (up from $30.00) on shares of enGene in a research report on Wednesday, November 12th. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 price objective on shares of enGene in a research note on Wednesday, December 3rd. Finally, Citizens Jmp raised their target price on enGene from $18.00 to $21.00 and gave the company a “market outperform” rating in a report on Wednesday, November 12th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.29.

enGene Stock Down 0.1%

Shares of ENGN traded down $0.02 during midday trading on Monday, hitting $10.10. The company had a trading volume of 46,953 shares, compared to its average volume of 332,793. enGene has a 1 year low of $2.65 and a 1 year high of $12.25. The firm has a market capitalization of $676.21 million, a P/E ratio of -4.40 and a beta of -0.29. The company has a debt-to-equity ratio of 0.09, a quick ratio of 6.30 and a current ratio of 6.30. The company’s 50-day simple moving average is $9.57 and its 200-day simple moving average is $7.87.

enGene (NASDAQ:ENGN) last released its quarterly earnings data on Monday, December 22nd. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.18). As a group, sell-side analysts expect that enGene will post -1.56 EPS for the current year.

Hedge Funds Weigh In On enGene

A number of institutional investors have recently modified their holdings of ENGN. Cresset Asset Management LLC purchased a new stake in shares of enGene in the second quarter valued at about $36,000. Affinity Asset Advisors LLC acquired a new stake in enGene during the 2nd quarter worth approximately $280,000. Paloma Partners Management Co acquired a new stake in enGene during the 2nd quarter worth approximately $38,000. PFS Partners LLC acquired a new position in shares of enGene in the third quarter valued at approximately $61,000. Finally, Raymond James Financial Inc. increased its holdings in shares of enGene by 383.6% in the third quarter. Raymond James Financial Inc. now owns 10,000 shares of the company’s stock valued at $68,000 after purchasing an additional 7,932 shares during the period. 64.16% of the stock is owned by institutional investors and hedge funds.

About enGene

enGene, Inc is a clinical‐stage biopharmaceutical company focused on the development of gene‐based therapeutics for oncology. The company’s core technology is the EnGene Delivery Vehicle (EDV) platform, which employs nonliving, bacterially derived minicells to transport therapeutic payloads directly to tumor cells. By combining targeted delivery with potent payloads, enGene aims to improve the precision and efficacy of cancer treatments while reducing off‐target toxicity.

Through its EDV platform, enGene has advanced multiple therapeutic candidates into preclinical and clinical stages.