Short Interest in enGene Holdings Inc. (NASDAQ:ENGN) Declines By 93.4%

enGene Holdings Inc. (NASDAQ:ENGN) was the target of a significant decrease in short interest in the month of December. As of December 15th, there was short interest totalling 50,600 shares, a decrease of 93.4% from the November 30th total of 768,300 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average daily volume of 207,100 shares, the short-interest ratio is currently 0.2 days.

enGene Stock Up 4.6 %

Shares of NASDAQ:ENGN traded up $0.28 during trading on Friday, reaching $6.42. 67,687 shares of the stock were exchanged, compared to its average volume of 117,836. The stock has a fifty day moving average of $7.89 and a two-hundred day moving average of $7.73. enGene has a 1-year low of $4.42 and a 1-year high of $18.40. The company has a debt-to-equity ratio of 0.09, a current ratio of 19.52 and a quick ratio of 19.52. The firm has a market cap of $283.87 million, a price-to-earnings ratio of -11.07 and a beta of -0.78.

enGene (NASDAQ:ENGN) last released its quarterly earnings data on Thursday, December 19th. The company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.06. Research analysts anticipate that enGene will post -1.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ENGN has been the topic of a number of research analyst reports. Morgan Stanley reaffirmed an “overweight” rating and set a $40.00 price target on shares of enGene in a research report on Wednesday, September 11th. Oppenheimer restated an “outperform” rating and set a $30.00 target price on shares of enGene in a research report on Tuesday, September 24th. Raymond James began coverage on enGene in a report on Wednesday, November 27th. They issued an “outperform” rating and a $23.00 target price for the company. Citizens Jmp upgraded enGene to a “strong-buy” rating in a report on Monday, November 18th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $18.00 price objective on shares of enGene in a research report on Monday, December 23rd. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $29.78.

Insider Activity at enGene

In other news, major shareholder Growth Opportunities F. Forbion purchased 341,332 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were purchased at an average price of $6.34 per share, for a total transaction of $2,164,044.88. Following the transaction, the insider now owns 2,400,791 shares of the company’s stock, valued at approximately $15,221,014.94. This trade represents a 16.57 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders purchased 369,326 shares of company stock worth $2,345,518 over the last three months. Company insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On enGene

Several large investors have recently added to or reduced their stakes in ENGN. Wolverine Asset Management LLC bought a new stake in enGene during the 3rd quarter worth approximately $37,000. Point72 Asset Management L.P. boosted its position in shares of enGene by 1,410.3% during the third 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 during the last quarter. SR One Capital Management LP bought a new stake in enGene during the second quarter worth $4,715,000. Franklin Resources Inc. raised 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 during the last quarter. Finally, Logos Global Management LP lifted its stake in enGene by 50.0% during the 2nd 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 in the last quarter. Institutional investors own 64.16% of the company’s stock.

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.