enGene (NASDAQ:ENGN) Shares Up 5.2% – Here’s Why

Shares of enGene Holdings Inc. (NASDAQ:ENGN) traded up 5.2% during mid-day trading on Tuesday . The stock traded as high as $7.61 and last traded at $7.6150. 131,010 shares changed hands during trading, a decline of 68% from the average session volume of 409,224 shares. The stock had previously closed at $7.24.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Guggenheim reissued a “buy” rating on shares of enGene in a research report on Tuesday, March 10th. HC Wainwright reissued a “buy” rating and set a $25.00 price target on shares of enGene in a research report on Monday, March 9th. Jefferies Financial Group assumed coverage on enGene in a research report on Friday, January 30th. They set a “buy” rating and a $28.00 price target on the stock. Oppenheimer dropped their price target on enGene from $33.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 11th. Finally, Citigroup reissued a “market outperform” rating on shares of enGene in a research report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $22.86.

enGene Price Performance

The company has a debt-to-equity ratio of 0.09, a current ratio of 11.75 and a quick ratio of 11.75. The company has a 50-day simple moving average of $8.63 and a two-hundred day simple moving average of $8.33. The stock has a market capitalization of $508.59 million, a price-to-earnings ratio of -3.37 and a beta of -0.06.

enGene (NASDAQ:ENGN) last issued its earnings results on Monday, March 9th. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($0.55) by $0.11. On average, equities research analysts predict that enGene Holdings Inc. will post -1.56 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. XTX Topco Ltd acquired a new position in shares of enGene during the fourth quarter valued at $216,000. Vestal Point Capital LP increased its holdings in shares of enGene by 185.1% during the fourth quarter. Vestal Point Capital LP now owns 1,055,000 shares of the company’s stock valued at $9,527,000 after purchasing an additional 685,000 shares during the period. Virtus Investment Advisers LLC acquired a new position in shares of enGene during the fourth quarter valued at $284,000. Quadrature Capital Ltd acquired a new position in shares of enGene during the fourth quarter valued at $439,000. Finally, Perceptive Advisors LLC increased its holdings in shares of enGene by 179.8% during the fourth quarter. Perceptive Advisors LLC now owns 5,869,076 shares of the company’s stock valued at $52,998,000 after purchasing an additional 3,771,840 shares during the period. 64.16% of the stock is owned by institutional investors and hedge funds.

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.