enGene (NASDAQ:ENGN) Hits New 1-Year High – Should You Buy?

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Citigroup reissued a “market outperform” rating on shares of enGene in a research note on Monday, January 5th. Citizens Jmp increased their price objective on shares of 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 shares of enGene from an “outperform” rating to a “strong-buy” rating and set a $27.00 target price for the company in a research note on Tuesday, November 11th. Oppenheimer restated 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. Finally, HC Wainwright reiterated a “buy” rating and issued a $25.00 price objective on shares of enGene in a report on Wednesday, December 3rd. One investment 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $22.38.

enGene Trading Up 10.3%

The stock has a market capitalization of $786.40 million, a PE ratio of -5.07 and a beta of -0.29. The company’s 50 day moving average price is $8.48 and its two-hundred day moving average price is $6.66. The company has a debt-to-equity ratio of 0.09, a current ratio of 6.30 and a quick ratio of 6.30.

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

Hedge Funds Weigh In On enGene

A number of institutional investors have recently added to or reduced their stakes in ENGN. Cresset Asset Management LLC acquired a new position in enGene during the second quarter worth $36,000. Paloma Partners Management Co purchased a new position in shares of enGene during the 2nd quarter worth $38,000. PFS Partners LLC acquired a new position in shares of enGene during the 3rd quarter valued at about $61,000. Raymond James Financial Inc. grew its holdings in shares of enGene by 383.6% in 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 during the period. Finally, Hudson Bay Capital Management LP purchased a new stake in shares of enGene in the third quarter valued at about $76,000. Hedge funds and other institutional investors own 64.16% of the company’s stock.

enGene Company Profile

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.