enGene (NASDAQ:ENGN) Shares Break Above Fifty Day Moving Average – Should You Sell?

enGene Holdings Inc. (NASDAQ:ENGN) shares passed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $1.77 and traded as high as $1.81. enGene shares last traded at $1.80, with a volume of 2,722,938 shares trading hands.

Recent enGene Headlines

Here are a few of the latest headlines about ENGN:

• Positive Sentiment: Starting the BLA submission process by year-end would mark progress toward potential regulatory review of detalimogene, while the pivotal-trial update provides a fresh clinical milestone.
• Neutral Sentiment: A report on short interest stated that the total was zero shares as of November 10, despite describing a large increase. That internally inconsistent figure offers no clear signal about bearish positioning.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ENGN shares. Jefferies Financial Group raised shares of enGene to a “strong-buy” rating in a report on Tuesday, October 13th. Citigroup lowered shares of enGene from a “market perform” rating to a “hold” rating in a research report on Friday, October 16th. Wall Street Zen raised enGene from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings downgraded shares of enGene from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, October 30th. Finally, HC Wainwright restated a “buy” rating on shares of enGene in a report on Friday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.05.

enGene Price Performance

The company has a quick ratio of 10.21, a current ratio of 10.21 and a debt-to-equity ratio of 0.11. The company has a market cap of $120.64 million, a price-to-earnings ratio of -0.87 and a beta of -0.24. The stock’s 50-day simple moving average is $1.77 and its 200 day simple moving average is $4.06.

enGene (NASDAQ:ENGN) last posted its earnings results on Tuesday, September 8th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.04). On average, equities research analysts anticipate that enGene Holdings Inc. will post -1.82 EPS for the current fiscal year.

Hedge Funds Weigh In On enGene

Several institutional investors have recently modified their holdings of ENGN. Siren L.L.C. grew its position in shares of enGene by 57.5% during the first quarter. Siren L.L.C. now owns 5,253,159 shares of the company’s stock worth $35,774,000 after buying an additional 1,916,895 shares in the last quarter. Eversept Partners LP grew its position in shares of enGene by 12.0% in the 1st quarter. Eversept Partners LP now owns 510,543 shares of the company’s stock valued at $3,477,000 after buying an additional 54,708 shares during the last quarter. Monashee Investment Management LLC grew its position in shares of enGene by 8.5% in the 1st quarter. Monashee Investment Management LLC now owns 320,000 shares of the company’s stock valued at $2,179,000 after buying an additional 25,000 shares during the last quarter. SR One Capital Management LP acquired a new stake in enGene during the 2nd quarter worth $1,293,607. Finally, Renaissance Technologies LLC raised its stake in enGene by 651.1% during the 1st quarter. Renaissance Technologies LLC now owns 156,100 shares of the company’s stock worth $1,063,000 after acquiring an additional 135,318 shares in the last quarter. Institutional investors and hedge funds own 64.16% of the company’s stock.

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. The company was founded in 2023 and is based in Saint-Laurent, Canada.