enGene (NASDAQ:ENGN) Shares Gap Up – Here’s What Happened

enGene Holdings Inc. (NASDAQ:ENGN)’s share price gapped up prior to trading on Friday . The stock had previously closed at $10.27, but opened at $10.94. enGene shares last traded at $10.19, with a volume of 28,984 shares trading hands.

Analyst Ratings Changes

Several research firms recently commented on ENGN. Morgan Stanley increased their target price on shares of enGene from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Wednesday, November 12th. Oppenheimer reissued an “outperform” rating and set a $33.00 price objective (up from $30.00) on shares of enGene in a research note on Wednesday, November 12th. HC Wainwright reaffirmed a “buy” rating and set a $25.00 target price on shares of enGene in a research report on Wednesday, December 3rd. Raymond James Financial raised enGene from an “outperform” rating to a “strong-buy” rating and set a $27.00 target price for the company in a report on Tuesday, November 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of enGene in a research report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $23.00.

enGene Price Performance

The stock has a 50 day moving average of $8.84 and a two-hundred day moving average of $6.92. The company has a debt-to-equity ratio of 0.09, a quick ratio of 6.30 and a current ratio of 6.30. The firm has a market capitalization of $674.25 million, a P/E ratio of -4.40 and a beta of -0.29.

enGene (NASDAQ:ENGN) last announced its quarterly earnings results on Monday, December 22nd. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.18). Sell-side analysts predict that enGene Holdings Inc. will post -1.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On enGene

Hedge funds have recently bought and sold shares of the company. Cresset Asset Management LLC acquired a new stake in shares of enGene in the second quarter valued at about $36,000. Paloma Partners Management Co bought a new stake in enGene during the 2nd quarter valued at approximately $38,000. PFS Partners LLC bought a new stake in enGene during the 3rd quarter valued at approximately $61,000. Raymond James Financial Inc. grew its holdings in enGene by 383.6% in the 3rd 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 last quarter. Finally, Hudson Bay Capital Management LP bought a new position in enGene in the 3rd quarter worth approximately $76,000. 64.16% of the stock is currently owned by 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.