enGene Holdings Inc. (NASDAQ:ENGN) Sees Large Growth in Short Interest

enGene Holdings Inc. (NASDAQ:ENGN) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 216,700 shares, a growth of 38.7% from the August 31st total of 156,200 shares. Based on an average daily trading volume, of 123,800 shares, the days-to-cover ratio is presently 1.8 days. Currently, 1.3% of the shares of the stock are sold short.

enGene Stock Up 10.0 %

Shares of NASDAQ ENGN traded up $0.55 during trading on Friday, hitting $6.05. The stock had a trading volume of 432,716 shares, compared to its average volume of 99,694. 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 company has a market capitalization of $267.20 million, a PE ratio of -3.52 and a beta of -0.68. The firm has a fifty day moving average of $7.00 and a two-hundred day moving average of $10.78. enGene has a 12 month low of $4.42 and a 12 month high of $43.00.

enGene (NASDAQ:ENGN) last issued its quarterly earnings data on Tuesday, September 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.05. As a group, equities research analysts forecast that enGene will post -1.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ENGN. BVF Inc. IL purchased a new stake in shares of enGene in the fourth quarter worth about $20,777,000. Omega Fund Management LLC bought a new position in shares of enGene during the fourth quarter valued at approximately $10,441,000. Altitude Crest Partners Inc. bought a new position in shares of enGene during the first quarter valued at approximately $2,039,000. Janus Henderson Group PLC purchased a new stake in shares of enGene in the first quarter valued at approximately $17,095,000. Finally, SR One Capital Management LP purchased a new stake in shares of enGene in the second quarter valued at approximately $4,715,000. Hedge funds and other institutional investors own 64.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ENGN shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $40.00 target price on shares of enGene in a research note on Wednesday, September 11th. Oppenheimer restated an “outperform” rating and set a $30.00 price objective on shares of enGene in a research note on Tuesday, September 24th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $33.67.

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.