enGene (NASDAQ:ENGN) Hits New 1-Year High – Still a Buy?

enGene Holdings Inc. (NASDAQ:ENGN)’s stock price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $11.26 and last traded at $11.11, with a volume of 180580 shares trading hands. The stock had previously closed at $10.64.

Wall Street Analysts Forecast Growth

ENGN has been the subject of a number of recent analyst reports. Citizens Jmp boosted their price objective on enGene from $18.00 to $21.00 and gave the company a “market outperform” rating in a report on Wednesday, November 12th. Raymond James Financial raised enGene from an “outperform” rating to a “strong-buy” rating and set a $27.00 price objective on the stock in a research report on Tuesday, November 11th. Morgan Stanley boosted their price objective on shares of enGene from $18.00 to $19.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 12th. Weiss Ratings restated a “sell (d-)” rating on shares of enGene in a research note on Friday, January 9th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $33.00 price target (up from $30.00) on shares of enGene in a report on Wednesday, November 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, enGene presently has a consensus rating of “Moderate Buy” and an average price target of $22.38.

enGene Trading Up 10.3%

The stock has a 50-day moving average of $8.48 and a 200 day moving average of $6.66. The company has a quick ratio of 6.30, a current ratio of 6.30 and a debt-to-equity ratio of 0.09. The stock has a market cap of $786.40 million, a PE ratio of -5.07 and a beta of -0.29.

enGene (NASDAQ:ENGN) last released 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, sell-side analysts anticipate that enGene Holdings Inc. will post -1.56 earnings per share for the current year.

Hedge Funds Weigh In On enGene

Large investors have recently made changes to their positions in the company. PFS Partners LLC purchased a new position in enGene in the third quarter valued at $61,000. Cresset Asset Management LLC acquired a new stake in shares of enGene during the 2nd quarter valued at about $36,000. Raymond James Financial Inc. increased its stake in shares of enGene by 383.6% in 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 in the last quarter. Paloma Partners Management Co acquired a new position in enGene in the 2nd quarter worth about $38,000. Finally, Hudson Bay Capital Management LP purchased a new position in enGene during the third quarter worth approximately $76,000. 64.16% of the stock is currently owned by institutional investors and hedge funds.

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.