enGene (NASDAQ:ENGN) Stock Price Up 11.3% – Time to Buy?
by Mitch Edgeman · The Markets DailyenGene Holdings Inc. (NASDAQ:ENGN – Get Free Report)’s share price rose 11.3% on Thursday . The stock traded as high as $10.28 and last traded at $10.3910. Approximately 726,403 shares traded hands during trading, an increase of 108% from the average daily volume of 349,550 shares. The stock had previously closed at $9.34.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on ENGN shares. Citigroup restated a “market outperform” rating on shares of enGene in a research report on Monday, January 5th. Citizens Jmp increased their price target on enGene from $18.00 to $21.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 12th. Weiss Ratings restated a “sell (d-)” rating on shares of enGene in a research note on Friday, January 9th. Raymond James Financial raised enGene from an “outperform” rating to a “strong-buy” rating and set a $27.00 price objective for the company in a report on Tuesday, November 11th. Finally, Morgan Stanley increased their target price on enGene from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Wednesday, November 12th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.38.
Get Our Latest Research Report on ENGN
enGene Price Performance
The firm has a market cap of $712.77 million, a P/E ratio of -4.65 and a beta of -0.29. The firm’s fifty day simple moving average is $8.43 and its 200 day simple moving average is $6.63. 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 – Get Free Report) last announced 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). As a group, analysts forecast that enGene Holdings Inc. will post -1.56 earnings per share for the current year.
Institutional Investors Weigh In On enGene
A number of hedge funds and other institutional investors have recently bought and sold shares of ENGN. Braidwell LP acquired a new position in enGene during the third quarter valued at $15,479,000. Affinity Asset Advisors LLC purchased a new position in enGene during the second quarter valued at approximately $280,000. Citadel Advisors LLC boosted its holdings in enGene by 153.3% during the third quarter. Citadel Advisors LLC now owns 58,370 shares of the company’s stock worth $399,000 after buying an additional 35,327 shares in the last quarter. Millennium Management LLC raised its position in shares of enGene by 57.3% in the third quarter. Millennium Management LLC now owns 20,502 shares of the company’s stock worth $140,000 after acquiring an additional 7,472 shares during the period. Finally, Hudson Bay Capital Management LP acquired a new stake in shares of enGene during the 3rd quarter valued at about $76,000. Hedge funds and other institutional investors own 64.16% of the company’s stock.
About enGene
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.