enGene Holdings Inc. (NASDAQ:ENGN) Short Interest Down 25.3% in March

enGene Holdings Inc. (NASDAQ:ENGN) saw a large drop in short interest in March. As of March 13th, there was short interest totaling 922,661 shares, a drop of 25.3% from the February 26th total of 1,235,753 shares. Based on an average daily trading volume, of 906,038 shares, the days-to-cover ratio is currently 1.0 days. Approximately 1.5% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ENGN. Oppenheimer lowered their price objective 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. Raymond James Financial restated a “strong-buy” rating and issued a $27.00 price target on shares of enGene in a report on Monday, March 9th. Guggenheim reaffirmed a “buy” rating on shares of enGene in a research report on Tuesday, March 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of enGene in a research note on Friday, January 9th. Finally, Citigroup reissued a “market outperform” rating on shares of enGene in a research note on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.86.

Institutional Investors Weigh In On enGene

A number of large investors have recently made changes to their positions in ENGN. Perceptive Advisors LLC raised its stake in enGene by 179.8% in the 4th quarter. Perceptive Advisors LLC now owns 5,869,076 shares of the company’s stock worth $52,998,000 after acquiring an additional 3,771,840 shares during the last quarter. Cormorant Asset Management LP grew its stake in enGene by 72.1% during the 4th quarter. Cormorant Asset Management LP now owns 4,000,000 shares of the company’s stock valued at $36,120,000 after purchasing an additional 1,676,405 shares during the last quarter. Blue Owl Capital Holdings LP grew its stake in enGene by 2.5% during the 4th quarter. Blue Owl Capital Holdings LP now owns 3,360,937 shares of the company’s stock valued at $30,349,000 after purchasing an additional 82,831 shares during the last quarter. Siren L.L.C. acquired a new position in shares of enGene in the fourth quarter valued at about $30,126,000. Finally, Braidwell LP raised its stake in shares of enGene by 38.2% in the fourth quarter. Braidwell LP now owns 3,131,319 shares of the company’s stock worth $28,276,000 after purchasing an additional 865,000 shares during the last quarter. 64.16% of the stock is owned by hedge funds and other institutional investors.

enGene Stock Down 8.5%

ENGN traded down $0.59 on Friday, hitting $6.37. The company had a trading volume of 162,375 shares, compared to its average volume of 601,208. The stock has a market capitalization of $426.73 million, a price-to-earnings ratio of -2.83 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 fifty day moving average price of $9.06 and a 200-day moving average price of $8.29. enGene has a 12-month low of $2.65 and a 12-month high of $12.25.

enGene (NASDAQ:ENGN) last posted 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. Analysts predict that enGene will post -1.56 EPS for the current fiscal year.

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.