enGene (NASDAQ:ENGN) Sees Large Volume Increase – Time to Buy?

enGene Holdings Inc. (NASDAQ:ENGN) saw strong trading volume on Wednesday . 522,910 shares traded hands during 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 Analyst Weigh In

Several equities analysts recently issued reports on ENGN shares. Oppenheimer reiterated an “outperform” rating and set a $33.00 price target (up previously from $30.00) on shares of enGene in a research report on Wednesday, November 12th. Raymond James Financial upgraded enGene from an “outperform” rating to a “strong-buy” rating and set a $27.00 price target on the stock in a research report on Tuesday, November 11th. HC Wainwright reiterated a “buy” rating and issued a $25.00 price objective on shares of enGene in a report on Wednesday, December 3rd. UBS Group raised their price objective on enGene from $4.00 to $10.00 and gave the company a “neutral” rating in a research report on Wednesday, November 12th. Finally, Morgan Stanley raised their target price on shares of enGene from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Wednesday, November 12th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.38.

enGene Price Performance

The firm has a 50-day moving average of $8.42 and a 200 day moving average of $6.61. The company has a debt-to-equity ratio of 0.09, a current ratio of 6.30 and a quick ratio of 6.30. The company has a market capitalization of $625.64 million, a PE ratio of -4.08 and a beta of -0.29.

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

Hedge Funds Weigh In On enGene

A number of hedge funds have recently modified their holdings of the company. PFS Partners LLC purchased a new stake in enGene in the 3rd quarter worth $61,000. Cresset Asset Management LLC bought a new position in shares of enGene in the second quarter worth about $36,000. Raymond James Financial Inc. grew its position in shares of enGene by 383.6% during the third quarter. Raymond James Financial Inc. now owns 10,000 shares of the company’s stock worth $68,000 after purchasing an additional 7,932 shares in the last quarter. Paloma Partners Management Co bought a new stake in enGene during the 2nd quarter valued at approximately $38,000. Finally, Hudson Bay Capital Management LP purchased a new position in enGene in the 3rd quarter worth approximately $76,000. 64.16% of the stock is currently owned by institutional investors.

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.