enGene (NASDAQ:ENGN) Shares Up 5.2% – Here’s Why

enGene Holdings Inc. (NASDAQ:ENGN) shares shot up 5.2% during mid-day trading on Tuesday . The company traded as high as $7.61 and last traded at $7.6150. 131,010 shares traded hands during trading, a decline of 68% from the average session volume of 409,224 shares. The stock had previously closed at $7.24.

Analyst Ratings Changes

A number of research firms recently issued reports on ENGN. Wall Street Zen raised shares of enGene from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Guggenheim reissued a “buy” rating on shares of enGene in a research report on Tuesday, March 10th. Jefferies Financial Group began coverage on shares of enGene in a research report on Friday, January 30th. They set a “buy” rating and a $28.00 target price for the company. HC Wainwright reissued a “buy” rating and set a $25.00 target price on shares of enGene in a research report on Monday, March 9th. Finally, Oppenheimer dropped their target price on shares of enGene from $33.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, March 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.86.

enGene Stock Performance

The company has a market capitalization of $508.59 million, a PE ratio of -3.37 and a beta of -0.06. The company has a debt-to-equity ratio of 0.09, a quick ratio of 11.75 and a current ratio of 11.75. The company has a 50 day moving average price of $8.63 and a 200 day moving average price of $8.33.

enGene (NASDAQ:ENGN) last released its earnings results on Monday, March 9th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.11. Equities analysts forecast that enGene Holdings Inc. will post -1.56 EPS for the current year.

Hedge Funds Weigh In On enGene

Institutional investors and hedge funds have recently made changes to their positions in the business. PFS Partners LLC acquired a new stake in shares of enGene during the 3rd quarter valued at approximately $61,000. Cresset Asset Management LLC acquired a new stake in shares of enGene during the 2nd quarter valued at approximately $36,000. Raymond James Financial Inc. raised its position in shares of enGene by 383.6% during the 3rd quarter. Raymond James Financial Inc. now owns 10,000 shares of the company’s stock valued at $68,000 after acquiring an additional 7,932 shares in the last quarter. Paloma Partners Management Co acquired a new stake in shares of enGene during the 2nd quarter valued at approximately $38,000. Finally, Hudson Bay Capital Management LP acquired a new stake in shares of enGene during the 3rd quarter valued at approximately $76,000. 64.16% of the stock is currently owned by hedge funds and other institutional investors.

enGene Company Profile

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. The company was founded in 2023 and is based in Saint-Laurent, Canada.