enGene (NASDAQ:ENGN) Sees Large Volume Increase – Should You Buy?

enGene Holdings Inc. (NASDAQ:ENGN) shares saw unusually-strong trading volume on Wednesday . Approximately 194,725 shares were traded during mid-day trading, an increase of 16% from the previous session’s volume of 168,385 shares.The stock last traded at $9.09 and had previously closed at $8.38.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ENGN. Weiss Ratings restated a “sell (d-)” rating on shares of enGene in a research report on Friday. Citizens Jmp boosted their price target on shares of enGene from $18.00 to $21.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 12th. Morgan Stanley upped their price objective on shares of enGene from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 12th. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price objective on shares of enGene in a report on Wednesday, December 3rd. Finally, Citigroup reissued a “market outperform” rating on shares of enGene in a research note on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $22.38.

enGene Stock Performance

The stock has a 50-day moving average of $8.16 and a 200 day moving average of $6.42. The stock has a market cap of $604.25 million, a PE ratio of -3.99 and a beta of -0.29. The company has a quick ratio of 6.30, a current ratio of 6.30 and a debt-to-equity ratio of 0.09.

enGene (NASDAQ:ENGN) last issued its earnings results on Monday, December 22nd. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.18). Equities analysts predict that enGene Holdings Inc. will post -1.56 EPS for the current fiscal year.

Institutional Investors Weigh In On enGene

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Affinity Asset Advisors LLC acquired a new position in enGene in the 2nd quarter valued at about $280,000. PFS Partners LLC acquired a new stake in shares of enGene during the 3rd quarter worth about $61,000. Braidwell LP purchased a new stake in enGene in the 3rd quarter valued at about $15,479,000. Hudson Bay Capital Management LP purchased a new stake in enGene in the 3rd quarter valued at about $76,000. Finally, Millennium Management LLC lifted its position in enGene by 57.3% in the third quarter. Millennium Management LLC now owns 20,502 shares of the company’s stock valued at $140,000 after buying an additional 7,472 shares during the last quarter. 64.16% of the stock is currently owned by institutional investors and hedge funds.

enGene Company Profile

enGene, Inc is a clinical‐stage biopharmaceutical company focused on the development of gene‐based therapeutics for oncology. The company’s core technology is the EnGene Delivery Vehicle (EDV) platform, which employs nonliving, bacterially derived minicells to transport therapeutic payloads directly to tumor cells. By combining targeted delivery with potent payloads, enGene aims to improve the precision and efficacy of cancer treatments while reducing off‐target toxicity.

Through its EDV platform, enGene has advanced multiple therapeutic candidates into preclinical and clinical stages.