enGene Holdings Inc. (NASDAQ:ENGN) Sees Significant Increase in Short Interest

enGene Holdings Inc. (NASDAQ:ENGN) was the recipient of a significant growth in short interest during the month of April. As of April 15th, there was short interest totaling 1,330,981 shares, a growth of 16.2% from the March 31st total of 1,145,907 shares. Currently, 2.2% of the shares of the company are short sold. Based on an average trading volume of 199,435 shares, the short-interest ratio is presently 6.7 days.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Cresset Asset Management LLC acquired a new position in enGene during the second quarter valued at approximately $36,000. Paloma Partners Management Co acquired a new position in enGene during the second quarter valued at approximately $38,000. Raymond James Financial Inc. raised its position in enGene by 383.6% during the third 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. Hudson Bay Capital Management LP bought a new stake in shares of enGene during the third quarter worth $76,000. Finally, PFS Partners LLC grew its stake in shares of enGene by 22.2% during the fourth quarter. PFS Partners LLC now owns 11,000 shares of the company’s stock worth $99,000 after buying an additional 2,000 shares during the last quarter. 64.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Wall Street Zen downgraded shares of enGene from a “hold” rating to a “sell” rating in a research report on Saturday, April 18th. Oppenheimer dropped their price target on shares of enGene from $33.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, March 11th. HC Wainwright reiterated a “buy” rating and issued a $25.00 price target on shares of enGene in a research report on Monday, March 9th. WBB Securities initiated coverage on shares of enGene in a research report on Monday, April 13th. They issued a “buy” rating and a $21.50 price target for the company. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $27.00 price target on shares of enGene in a research report on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $22.69.

enGene Price Performance

Shares of NASDAQ ENGN traded down $0.02 during midday trading on Friday, reaching $7.25. The company’s stock had a trading volume of 236,029 shares, compared to its average volume of 368,713. The company has a debt-to-equity ratio of 0.09, a quick ratio of 11.75 and a current ratio of 11.75. enGene has a fifty-two week low of $2.65 and a fifty-two week high of $12.25. The business’s 50 day moving average price is $7.83 and its two-hundred day moving average price is $8.36. The company has a market cap of $485.64 million, a P/E ratio of -3.22 and a beta of -0.02.

enGene (NASDAQ:ENGN) last announced its quarterly earnings data on Monday, March 9th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.11. On average, analysts forecast that enGene will post -2.06 EPS for the current fiscal year.

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. The company was founded in 2023 and is based in Saint-Laurent, Canada.