enGene (NASDAQ:ENGN) Trading Up 11.3% – Here’s Why

Shares of enGene Holdings Inc. (NASDAQ:ENGN) rose 11.3% during mid-day trading on Thursday . The company traded as high as $10.28 and last traded at $10.3910. Approximately 726,403 shares traded hands during trading, an increase of 108% from the average daily volume of 349,550 shares. The stock had previously closed at $9.34.

Analyst Ratings Changes

A number of brokerages have commented on ENGN. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of enGene in a research note on Friday, January 9th. Oppenheimer reissued 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. UBS Group raised their price target on shares of enGene from $4.00 to $10.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 12th. Citigroup reissued a “market outperform” rating on shares of enGene in a research report on Monday, January 5th. Finally, HC Wainwright restated a “buy” rating and set a $25.00 price objective on shares of enGene in a research note on Wednesday, December 3rd. One equities research 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.38.

enGene Stock Up 13.9%

The stock has a market capitalization of $712.77 million, a P/E ratio of -4.65 and a beta of -0.29. The business has a 50-day simple moving average of $8.43 and a two-hundred day simple moving average of $6.63. The company has a quick ratio of 6.30, a current ratio of 6.30 and a debt-to-equity ratio of 0.09.

enGene (NASDAQ:ENGN) last released its earnings results 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). Equities research analysts forecast that enGene Holdings Inc. will post -1.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On enGene

A number of large investors have recently added to or reduced their stakes in the business. Cresset Asset Management LLC bought a new position in enGene during the second quarter valued at $36,000. Paloma Partners Management Co bought a new stake in shares of enGene during the 2nd quarter valued at $38,000. PFS Partners LLC bought a new stake in shares of enGene during the third quarter valued at approximately $61,000. Raymond James Financial Inc. grew its stake 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 worth $68,000 after acquiring an additional 7,932 shares during the period. Finally, Hudson Bay Capital Management LP bought a new position in shares of enGene in the 3rd quarter worth approximately $76,000. Institutional investors own 64.16% of the company’s stock.

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.