enGene (NASDAQ:ENGN) Sees Strong Trading Volume – What’s Next?

enGene Holdings Inc. (NASDAQ:ENGN) saw strong trading volume on Wednesday . 522,910 shares traded hands during trading, an increase of 68% from the previous session’s volume of 310,857 shares.The stock last traded at $9.33 and had previously closed at $9.10.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Citizens Jmp increased their target price on shares of enGene from $18.00 to $21.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 12th. Raymond James Financial upgraded enGene from an “outperform” rating to a “strong-buy” rating and set a $27.00 target price on the stock in a research note on Tuesday, November 11th. Oppenheimer reissued an “outperform” rating and issued a $33.00 price objective (up previously from $30.00) on shares of enGene in a report on Wednesday, November 12th. Morgan Stanley boosted their price objective on enGene from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Wednesday, November 12th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of enGene in a research report on Friday, January 9th. 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 given a Sell rating to the company. Based on data from MarketBeat, enGene presently has an average rating of “Moderate Buy” and a consensus price target of $22.38.

enGene Price Performance

The stock has a market capitalization of $625.64 million, a PE ratio of -4.08 and a beta of -0.29. The business’s 50-day moving average price is $8.42 and its 200 day moving average price is $6.61. The company has a debt-to-equity ratio of 0.09, a quick ratio of 6.30 and a current ratio of 6.30.

enGene (NASDAQ:ENGN) last posted its quarterly earnings data 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). Research analysts forecast that enGene Holdings Inc. will post -1.56 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ENGN. Cresset Asset Management LLC bought a new stake in enGene in the 2nd quarter worth $36,000. Affinity Asset Advisors LLC bought a new stake in shares of enGene in the second quarter worth about $280,000. Paloma Partners Management Co purchased a new position in enGene during the 2nd quarter valued at about $38,000. PFS Partners LLC purchased a new stake in enGene in the 3rd quarter worth approximately $61,000. Finally, Raymond James Financial Inc. increased its stake in shares of enGene by 383.6% during the third quarter. Raymond James Financial Inc. now owns 10,000 shares of the company’s stock valued at $68,000 after buying an additional 7,932 shares during the period. 64.16% of the stock is owned by hedge funds and other institutional investors.

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.