enGene (NASDAQ:ENGN) Sees Large Volume Increase – Time to Buy?

enGene Holdings Inc. (NASDAQ:ENGN) saw strong trading volume on Wednesday . 194,725 shares changed hands during trading, an increase of 16% from the previous session’s volume of 168,385 shares.The stock last traded at $9.09 and had previously closed at $8.38.

Analyst Ratings Changes

ENGN has been the topic of a number of recent research reports. UBS Group upped their price target on shares of enGene from $4.00 to $10.00 and gave the company a “neutral” rating in a research note on Wednesday, November 12th. Citizens Jmp boosted their target price on shares of enGene from $18.00 to $21.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 12th. Citigroup reaffirmed a “market outperform” rating on shares of enGene in a report on Monday, January 5th. Oppenheimer reiterated an “outperform” rating and issued a $33.00 price target (up previously from $30.00) on shares of enGene in a research report on Wednesday, November 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of enGene in a research note on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $22.38.

enGene Trading Up 1.0%

The company has a quick ratio of 6.30, a current ratio of 6.30 and a debt-to-equity ratio of 0.09. The firm has a fifty day moving average price of $8.35 and a two-hundred day moving average price of $6.50.

enGene (NASDAQ:ENGN) last announced its quarterly earnings data on Monday, December 22nd. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.18). On average, equities research analysts anticipate that enGene Holdings Inc. will post -1.56 earnings per share for the current year.

Institutional Investors Weigh In On enGene

Several large investors have recently added to or reduced their stakes in the stock. Cresset Asset Management LLC bought a new position in enGene in the 2nd quarter worth about $36,000. Affinity Asset Advisors LLC purchased a new stake in shares of enGene in the second quarter valued at approximately $280,000. Paloma Partners Management Co bought a new position in enGene in the second quarter worth approximately $38,000. PFS Partners LLC bought a new position in enGene in the third quarter worth approximately $61,000. Finally, Raymond James Financial Inc. increased its holdings in enGene by 383.6% during the 3rd quarter. Raymond James Financial Inc. now owns 10,000 shares of the company’s stock worth $68,000 after purchasing an additional 7,932 shares during the period. 64.16% of the stock is owned by hedge funds and other institutional investors.

enGene Company Profile

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.