enGene (NASDAQ:ENGN) Trading Up 0.3% – Still a Buy?

Shares of enGene Holdings Inc. (NASDAQ:ENGN) were up 0.3% on Monday . The stock traded as high as $3.80 and last traded at $3.69. Approximately 40,457 shares changed hands during trading, a decline of 60% from the average daily volume of 101,386 shares. The stock had previously closed at $3.68.

Analyst Upgrades and Downgrades

Separately, JMP Securities reaffirmed a “market outperform” rating and set a $18.00 target price on shares of enGene in a research note on Tuesday, April 29th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $23.29.

enGene Price Performance

The company has a current ratio of 12.66, a quick ratio of 12.66 and a debt-to-equity ratio of 0.09. The firm has a market cap of $188.56 million, a price-to-earnings ratio of -2.24 and a beta of -0.41. The stock has a 50-day moving average of $3.59 and a two-hundred day moving average of $4.41.

enGene (NASDAQ:ENGN) last released its quarterly earnings results on Tuesday, June 10th. The company reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.03). On average, analysts anticipate that enGene Holdings Inc. will post -1.56 EPS for the current year.

Hedge Funds Weigh In On enGene

A number of hedge funds and other institutional investors have recently modified their holdings of ENGN. Blue Owl Capital Holdings LP boosted its position in shares of enGene by 3.3% in the 4th quarter. Blue Owl Capital Holdings LP now owns 3,159,975 shares of the company’s stock valued at $21,014,000 after purchasing an additional 101,006 shares during the period. Jane Street Group LLC purchased a new stake in enGene in the 4th quarter worth about $93,000. Cubist Systematic Strategies LLC lifted its stake in enGene by 15.7% in the 4th quarter. Cubist Systematic Strategies LLC now owns 15,342 shares of the company’s stock worth $102,000 after acquiring an additional 2,080 shares in the last quarter. Corton Capital Inc. purchased a new stake in enGene in the 4th quarter worth about $157,000. Finally, Deep Track Capital LP lifted its stake in enGene by 74.8% in the 4th quarter. Deep Track Capital LP now owns 4,557,575 shares of the company’s stock worth $30,308,000 after acquiring an additional 1,949,942 shares in the last quarter. Institutional investors and hedge funds own 64.16% of the company’s stock.

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.