enGene (NASDAQ:ENGN) Sees Strong Trading Volume – Time to Buy?

enGene Holdings Inc. (NASDAQ:ENGN) saw unusually-strong trading volume on Wednesday . Approximately 522,910 shares traded hands during mid-day trading, an increase of 68% from the previous session’s volume of 310,857 shares.The stock last traded at $9.33 and had previously closed at $9.10.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Morgan Stanley lifted their price target on enGene from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Wednesday, November 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of enGene in a research note on Friday, January 9th. HC Wainwright reaffirmed a “buy” rating and set a $25.00 target price on shares of enGene in a report on Wednesday, December 3rd. Citigroup reissued a “market outperform” rating on shares of enGene in a report on Monday, January 5th. Finally, Citizens Jmp raised their price target on shares of enGene from $18.00 to $21.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.38.

enGene Stock Up 14.4%

The business has a 50-day moving average price of $8.55 and a 200-day moving average price of $6.72. The stock has a market cap of $815.27 million, a PE ratio of -5.31 and a beta of -0.29. The company has a current ratio of 6.30, a quick ratio of 6.30 and a debt-to-equity ratio of 0.09.

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

Institutional Investors Weigh In On enGene

Several institutional investors have recently bought and sold shares of ENGN. Cresset Asset Management LLC purchased a new stake in shares of enGene in the second quarter valued at approximately $36,000. Affinity Asset Advisors LLC acquired a new position in enGene during the second quarter worth $280,000. Paloma Partners Management Co purchased a new stake in enGene in the 2nd quarter valued at $38,000. PFS Partners LLC purchased a new stake in enGene in the 3rd quarter valued at $61,000. Finally, Raymond James Financial Inc. increased its stake in shares of enGene by 383.6% in the 3rd quarter. Raymond James Financial Inc. now owns 10,000 shares of the company’s stock worth $68,000 after acquiring an additional 7,932 shares during the last quarter. 64.16% of the stock is currently 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.