Short Interest in enGene Holdings Inc. (NASDAQ:ENGN) Grows By 206.2%

enGene Holdings Inc. (NASDAQ:ENGN) was the target of a significant increase in short interest during the month of February. As of February 15th, there was short interest totalling 88,500 shares, an increase of 206.2% from the January 31st total of 28,900 shares. Based on an average trading volume of 153,300 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.4% of the company’s stock are sold short.

Institutional Investors Weigh In On enGene

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Cubist Systematic Strategies LLC grew its stake in enGene by 15.7% during the fourth quarter. Cubist Systematic Strategies LLC now owns 15,342 shares of the company’s stock worth $102,000 after buying an additional 2,080 shares in the last quarter. Wolverine Asset Management LLC acquired a new stake in shares of enGene during the 3rd quarter worth approximately $37,000. Vontobel Holding Ltd. bought a new position in enGene in the fourth quarter valued at approximately $69,000. Jane Street Group LLC acquired a new position in enGene during the fourth quarter valued at approximately $93,000. Finally, Toronto Dominion Bank bought a new stake in enGene during the fourth quarter worth $97,000. 64.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on ENGN. HC Wainwright began coverage on enGene in a research report on Monday, December 23rd. They set a “buy” rating and a $25.00 price target for the company. JMP Securities reiterated a “market outperform” rating and set a $18.00 price objective on shares of enGene in a research note on Monday, December 23rd. Raymond James started coverage on shares of enGene in a research note on Wednesday, November 27th. They issued an “outperform” rating and a $23.00 target price for the company. Citizens Jmp raised shares of enGene to a “strong-buy” rating in a research report on Monday, November 18th. Finally, Piper Sandler assumed coverage on shares of enGene in a research report on Tuesday, February 18th. They issued an “overweight” rating and a $26.00 price objective for the company. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, enGene currently has a consensus rating of “Buy” and an average target price of $25.89.

enGene Stock Performance

ENGN traded up $0.12 during trading on Friday, hitting $5.96. The stock had a trading volume of 22,766 shares, compared to its average volume of 130,217. The company has a 50 day moving average price of $6.74 and a 200-day moving average price of $7.15. The firm has a market cap of $263.31 million, a price-to-earnings ratio of -10.27 and a beta of -0.65. enGene has a one year low of $4.42 and a one year high of $18.40. 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 (NASDAQ:ENGN) last announced its earnings results on Thursday, December 19th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.06. As a group, research analysts predict that enGene will post -1.56 EPS for the current year.

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.