enGene (NASDAQ:ENGN) Sees Large Volume Increase – Here’s Why

Shares of enGene Holdings Inc. (NASDAQ:ENGN) saw strong trading volume on Wednesday . 416,019 shares traded hands during mid-day trading, an increase of 3% from the previous session’s volume of 404,246 shares.The stock last traded at $9.74 and had previously closed at $9.22.

Wall Street Analysts Forecast Growth

ENGN has been the topic of several recent research reports. Morgan Stanley lifted their target price 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. Citizens Jmp increased their price objective on enGene from $18.00 to $21.00 and gave the company a “market outperform” rating in a report on Wednesday, November 12th. Oppenheimer reaffirmed an “outperform” rating and set a $33.00 target price (up from $30.00) on shares of enGene in a report on Wednesday, November 12th. UBS Group increased their price target on enGene from $4.00 to $10.00 and gave the company a “neutral” rating in a research note on Wednesday, November 12th. Finally, Citigroup restated a “market outperform” rating on shares of enGene in a research report on Wednesday, November 12th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, enGene currently has a consensus rating of “Moderate Buy” and an average target price of $22.38.

enGene Trading Up 3.7%

The firm’s 50-day moving average price is $7.90 and its 200 day moving average price is $5.83. The company has a market cap of $617.45 million, a price-to-earnings ratio of -4.20 and a beta of -0.28. The company has a current ratio of 10.34, a quick ratio of 10.34 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 for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.18). As a group, equities analysts expect that enGene Holdings Inc. will post -1.56 EPS for the current year.

Institutional Trading of enGene

Several institutional investors and hedge funds have recently modified their holdings of the stock. MAI Capital Management lifted its holdings in enGene by 11.0% during the first quarter. MAI Capital Management now owns 78,067 shares of the company’s stock worth $350,000 after acquiring an additional 7,756 shares during the period. ADAR1 Capital Management LLC purchased a new position in shares of enGene in the 1st quarter worth about $107,000. Adage Capital Partners GP L.L.C. grew its position in enGene by 2.7% during the first quarter. Adage Capital Partners GP L.L.C. now owns 1,571,642 shares of the company’s stock valued at $7,041,000 after buying an additional 41,874 shares during the period. Cresset Asset Management LLC bought a new stake in enGene in the second quarter worth about $36,000. Finally, Affinity Asset Advisors LLC bought a new position in shares of enGene during the 2nd quarter valued at approximately $280,000. 64.16% of the stock is owned by hedge funds and other institutional investors.

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.