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

enGene Holdings Inc. (NASDAQ:ENGN) saw a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 60,300 shares, a decline of 31.9% from the February 13th total of 88,500 shares. Based on an average daily volume of 131,100 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.3% of the company’s stock are short sold.

enGene Price Performance

Shares of NASDAQ ENGN traded up $0.05 during mid-day trading on Friday, hitting $5.40. 23,426 shares of the stock traded hands, compared to its average volume of 131,979. The company has a debt-to-equity ratio of 0.08, a current ratio of 16.87 and a quick ratio of 16.87. enGene has a twelve month low of $4.42 and a twelve month high of $18.40. The company has a market cap of $275.28 million, a PE ratio of -9.31 and a beta of -0.61. The firm has a 50 day simple moving average of $6.51 and a two-hundred day simple moving average of $7.12.

enGene (NASDAQ:ENGN) last announced its earnings results on Thursday, December 19th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.06. As a group, equities research analysts forecast that enGene will post -1.56 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Citizens Jmp upgraded shares of enGene to a “strong-buy” rating in a research note on Monday, November 18th. UBS Group downgraded enGene from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $34.00 to $7.00 in a report on Friday, February 14th. JMP Securities reiterated a “market outperform” rating and issued a $18.00 price objective on shares of enGene in a report on Monday, December 23rd. Morgan Stanley dropped their price objective on enGene from $37.00 to $34.00 and set an “overweight” rating for the company in a report on Tuesday, March 11th. Finally, Raymond James started coverage on enGene in a report on Wednesday, November 27th. They issued an “outperform” rating and a $23.00 price target for the company. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, enGene currently has an average rating of “Buy” and an average target price of $25.22.

Institutional Trading of enGene

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its position in enGene by 48.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,189,952 shares of the company’s stock valued at $7,854,000 after buying an additional 389,918 shares in the last quarter. Point72 Asset Management L.P. increased its position in enGene by 1,410.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 663,000 shares of the company’s stock valued at $4,376,000 after buying an additional 619,100 shares in the last quarter. Vontobel Holding Ltd. bought a new stake in enGene in the 4th quarter valued at about $69,000. Wolverine Asset Management LLC acquired a new position in enGene during the 3rd quarter valued at about $37,000. Finally, Cubist Systematic Strategies LLC boosted its stake in enGene by 15.7% during the 4th quarter. Cubist Systematic Strategies LLC now owns 15,342 shares of the company’s stock valued at $102,000 after purchasing an additional 2,080 shares during the last quarter. 64.16% of the stock is owned by institutional investors.

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.