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

enGene Holdings Inc. (NASDAQ:ENGN) was the target of a significant decline in short interest in February. As of February 27th, there was short interest totaling 1,235,753 shares, a decline of 17.7% from the February 12th total of 1,501,696 shares. Based on an average trading volume of 119,320 shares, the short-interest ratio is currently 10.4 days. Approximately 2.1% of the company’s stock are short sold. Approximately 2.1% of the company’s stock are short sold. Based on an average trading volume of 119,320 shares, the short-interest ratio is currently 10.4 days.

Analysts Set New Price Targets

A number of brokerages have weighed in on ENGN. Raymond James Financial reaffirmed a “strong-buy” rating and set a $27.00 target price on shares of enGene in a research note on Monday, March 9th. Weiss Ratings restated 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 price objective on shares of enGene in a research report on Monday, March 9th. Guggenheim reiterated a “buy” rating on shares of enGene in a research note on Tuesday, March 10th. Finally, Jefferies Financial Group initiated coverage on enGene in a report on Friday, January 30th. They issued a “buy” rating and a $28.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, seven 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 data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.86.

Institutional Investors Weigh In On enGene

Several institutional investors have recently modified their holdings of the business. PFS Partners LLC bought a new stake in enGene in the 3rd quarter worth about $61,000. Cresset Asset Management LLC bought a new position in enGene during the 2nd quarter valued at about $36,000. Raymond James Financial Inc. boosted its holdings 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 during the last quarter. Paloma Partners Management Co purchased a new stake in shares of enGene during the 2nd quarter valued at about $38,000. Finally, Hudson Bay Capital Management LP bought a new stake in shares of enGene in the third quarter worth approximately $76,000. 64.16% of the stock is owned by hedge funds and other institutional investors.

enGene Stock Up 0.3%

Shares of NASDAQ:ENGN traded up $0.02 during trading on Tuesday, reaching $7.25. 516,620 shares of the stock traded hands, compared to its average volume of 456,578. The stock has a market cap of $485.68 million, a P/E ratio of -3.22 and a beta of -0.29. 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 stock has a 50-day moving average of $9.36 and a two-hundred day moving average of $8.19. enGene has a 52-week low of $2.65 and a 52-week high of $12.25.

enGene (NASDAQ:ENGN) last released its quarterly earnings data on Monday, March 9th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.11. As a group, sell-side analysts expect that enGene will post -1.56 earnings per share for the current fiscal year.

About enGene

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.