enGene Holdings Inc. (NASDAQ:ENGN) Sees Large Growth in Short Interest

enGene Holdings Inc. (NASDAQ:ENGN) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 1,145,907 shares, an increase of 24.2% from the March 15th total of 922,661 shares. Based on an average daily trading volume, of 279,661 shares, the days-to-cover ratio is currently 4.1 days. Approximately 1.9% of the shares of the stock are short sold.

enGene Trading Up 3.7%

ENGN traded up $0.29 during trading on Thursday, reaching $8.05. 263,701 shares of the company’s stock were exchanged, compared to its average volume of 389,473. The company has a current ratio of 11.75, a quick ratio of 11.75 and a debt-to-equity ratio of 0.09. enGene has a one year low of $2.65 and a one year high of $12.25. The firm has a fifty day moving average price of $8.26 and a two-hundred day moving average price of $8.35. The stock has a market capitalization of $538.93 million, a PE ratio of -3.58 and a beta of -0.06.

enGene (NASDAQ:ENGN) last released its quarterly earnings results 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. As a group, equities research analysts forecast that enGene will post -1.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on ENGN shares. Raymond James Financial reiterated a “strong-buy” rating and issued a $27.00 target price on shares of enGene in a research report on Monday, March 9th. Guggenheim restated a “buy” rating on shares of enGene in a research note on Tuesday, March 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of enGene in a report on Wednesday, April 8th. Jefferies Financial Group started coverage on shares of enGene in a research report on Friday, January 30th. They set a “buy” rating and a $28.00 price objective for the company. Finally, Wall Street Zen upgraded shares of enGene from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, enGene presently has an average rating of “Moderate Buy” and a consensus target price of $22.69.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cresset Asset Management LLC acquired a new position in shares of enGene in the second quarter worth approximately $36,000. Paloma Partners Management Co acquired a new stake in enGene during the 2nd quarter valued at approximately $38,000. PFS Partners LLC bought a new position in enGene during the 3rd quarter worth approximately $61,000. Raymond James Financial Inc. raised 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 worth $68,000 after purchasing an additional 7,932 shares during the last quarter. Finally, Hudson Bay Capital Management LP acquired a new position in shares of enGene in the 3rd quarter worth approximately $76,000. 64.16% of the stock is owned by institutional investors and hedge funds.

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.