enGene Holdings Inc. (NASDAQ:ENGN) Sees Short Interest Decline

enGene Holdings Inc. (NASDAQ:ENGN) experienced a notable reduction in short interest for the month of February. As of February 28th, the total short interest stood at 60,300 shares, which reflects a decrease of 31.9% from the 88,500 shares reported on February 13th. This indicates that approximately 0.3% of the company's shares are currently short sold. Given an average daily trading volume of 131,100 shares, the days-to-cover ratio is calculated at 0.5 days.

enGene Stock Performance

The shares of enGene (NASDAQ:ENGN) opened at $5.40 on Friday. The stock has fluctuated within a year, reaching a low of $4.42 and a high of $18.40. Financial metrics include a debt-to-equity ratio of 0.08 and both a current and quick ratio of 16.87. The company also shows a 50-day simple moving average of $6.51 and a 200-day simple moving average of $7.11. Its market capitalization is currently valued at $275.28 million, with a P/E ratio of -9.31 and a beta value of -0.61.

Recently, enGene disclosed its quarterly earnings on December 19th, reporting an EPS of ($0.34), surpassing analysts' estimates of ($0.40) by $0.06. Analysts project that enGene will report an EPS of -1.56 for the current fiscal year.

Recent Analyst Ratings

Several equity research analysts have updated their views on enGene shares recently. Piper Sandler initiated coverage on February 18th with an "overweight" rating and set a price target of $26.00 for the stock. Conversely, UBS Group downgraded enGene from a "buy" to a "neutral" rating, lowering their price target from $34.00 to $7.00 on February 14th. On November 27th, Raymond James also began coverage, giving an "outperform" rating with a price target of $23.00. JMP Securities reiterated a "market outperform" rating and set a target price of $18.00 for the stock on December 23rd. Furthermore, Citizens JMP raised their rating to "strong-buy" on November 18th. Currently, one analyst rates the stock as a hold, eight rate it as a buy, and one analyst gives it a strong buy rating, suggesting an overall consensus rating of "Buy" with an average target price of $25.22 as reported by MarketBeat.

Institutional Activity

Various institutional investors and hedge funds have made adjustments to their holdings in enGene. Fcpm Iii Services B.V. increased its stake by 11.0% in the fourth quarter, owning 9,632,561 shares valued at $64,057,000 after acquiring 954,610 additional shares. Similarly, VR Adviser LLC grew its holdings by 41.5%, now holding 5,046,414 shares worth $33,559,000 after purchasing an extra 1,480,573 shares. Deep Track Capital LP raised its stake by 74.8%, now owning 4,557,575 shares valued at $30,308,000 following an acquisition of 1,949,942 additional shares. Additionally, Blue Owl Capital Holdings LP increased its holdings by 3.3%, now owning 3,159,975 shares valued at $21,014,000 after purchasing 101,006 shares. Point72 Asset Management L.P. also increased its position by 84.7%, currently owning 1,224,797 shares worth $8,145,000. Overall, about 64.16% of enGene’s stock is under institutional ownership.

Company Overview

enGene Holdings Inc, through its subsidiary enGene, Inc, functions as a clinical-stage biotechnology company focused on developing genetic medicines aimed at delivering therapeutics to mucosal tissues and other organs. The company's leading product candidate is EG-70 (detalimogene voraplasmid), a non-viral immunotherapy designed for patients with non-muscle invasive bladder cancer who are not responsive to Bacillus Calmette-Guérin treatment.

Final Insights

Investors are keen to understand enGene’s market trajectory, particularly given the current fluctuations in short interest and varied analyst ratings.

enGene, short, stocks