enGene Holdings Inc. (NASDAQ:ENGN – Get Free Report) saw a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 156,200 shares, a growth of 31.3% from the August 15th total of 119,000 shares. Based on an average trading volume of 134,100 shares, the days-to-cover ratio is presently 1.2 days. Currently, 1.0% of the company’s shares are short sold.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on the stock. Oppenheimer assumed coverage on shares of enGene in a research report on Wednesday, August 28th. They issued an “outperform” rating and a $30.00 price target on the stock. Morgan Stanley reissued an “overweight” rating and set a $40.00 target price on shares of enGene in a research note on Wednesday, September 11th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $33.67.
Check Out Our Latest Report on ENGN
enGene Trading Up 1.5 %
enGene (NASDAQ:ENGN – Get Free Report) last issued its earnings results on Tuesday, September 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.05. Sell-side analysts predict that enGene will post -1.49 EPS for the current fiscal year.
Hedge Funds Weigh In On enGene
A number of institutional investors and hedge funds have recently made changes to their positions in ENGN. Altitude Crest Partners Inc. bought a new stake in enGene in the 1st quarter valued at about $2,039,000. Logos Global Management LP grew its stake in enGene by 50.0% in the second quarter. Logos Global Management LP now owns 1,200,000 shares of the company’s stock valued at $11,316,000 after acquiring an additional 400,000 shares during the period. SR One Capital Management LP acquired a new stake in enGene in the second quarter valued at approximately $4,715,000. Janus Henderson Group PLC bought a new stake in shares of enGene during the first quarter valued at approximately $17,095,000. Finally, Omega Fund Management LLC acquired a new position in shares of enGene during the fourth quarter worth approximately $10,441,000. Institutional investors own 64.16% of the company’s stock.
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.
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