enGene (NASDAQ:ENGN) Shares Gap Up – Still a Buy?

enGene Holdings Inc. (NASDAQ:ENGN)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $8.95, but opened at $9.16. enGene shares last traded at $8.9150, with a volume of 27,395 shares traded.

Wall Street Analysts Forecast Growth

ENGN has been the topic of several analyst reports. Morgan Stanley boosted their price target on shares of enGene from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Wednesday, November 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of enGene in a research note on Tuesday, October 14th. Citizens Jmp increased their price target on shares of enGene from $18.00 to $21.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 12th. Oppenheimer reaffirmed an “outperform” rating and set a $33.00 price objective (up from $30.00) on shares of enGene in a report on Wednesday, November 12th. Finally, Citigroup reissued a “market outperform” rating on shares of enGene in a report on Wednesday, November 12th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $22.38.

enGene Stock Up 0.2%

The company has a current ratio of 6.30, a quick ratio of 6.30 and a debt-to-equity ratio of 0.09. The stock’s 50-day moving average price is $7.94 and its 200-day moving average price is $6.04. The company has a market cap of $600.86 million, a P/E ratio of -3.93 and a beta of -0.28.

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

Institutional Investors Weigh In On enGene

Hedge funds have recently added to or reduced their stakes in the company. Cresset Asset Management LLC bought a new stake in enGene in the 2nd quarter worth $36,000. Paloma Partners Management Co purchased a new stake in shares of enGene during the second quarter worth about $38,000. PFS Partners LLC bought a new stake in shares of enGene in the third quarter worth about $61,000. 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 valued at $68,000 after purchasing an additional 7,932 shares during the period. Finally, Hudson Bay Capital Management LP bought a new position in enGene during the 3rd quarter valued at approximately $76,000. Institutional investors own 64.16% of the company’s stock.

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.