enGene Holdings Inc. (NASDAQ:ENGN) Sees Large Growth in Short Interest

Key Points

• enGene Holdings Inc. (NASDAQ:ENGN) experienced a significant increase in short interest, rising by 206.5% from 4,600 shares to 14,100 shares as of August 31st.
• Institutional investors currently own 64.16% of enGene's stock, with notable stakes increased by firms such as Cubist Systematic Strategies LLC and MAI Capital Management.
• Despite posting a quarterly loss of ($0.57) EPS, enGene has received a "buy" rating with an average price target of $23.29 from analysts.

enGene Holdings Inc. (NASDAQ:ENGN - Get Free Report) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 14,100 shares, an increase of 206.5% from the August 15th total of 4,600 shares. Based on an average trading volume of 126,300 shares, the short-interest ratio is presently 0.1 days. Currently, 0.1% of the shares of the company are short sold. Currently, 0.1% of the shares of the company are short sold. Based on an average trading volume of 126,300 shares, the short-interest ratio is presently 0.1 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC raised its stake in enGene by 15.7% in the fourth quarter. Cubist Systematic Strategies LLC now owns 15,342 shares of the company's stock valued at $102,000 after buying an additional 2,080 shares in the last quarter. MAI Capital Management raised its stake in shares of 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 purchasing an additional 7,756 shares during the last quarter. Cresset Asset Management LLC acquired a new stake in shares of enGene in the 2nd quarter worth $36,000. Paloma Partners Management Co acquired a new position in enGene during the second quarter worth about $38,000. Finally, Jane Street Group LLC purchased a new stake in shares of enGene in the 4th quarter worth about $93,000. 64.16% of the stock is owned by institutional investors and hedge funds.

enGene Stock Performance

Shares of NASDAQ:ENGN traded up $0.12 during midday trading on Friday, reaching $6.18. The company's stock had a trading volume of 22,882 shares, compared to its average volume of 101,516. The stock has a fifty day moving average of $4.09 and a 200 day moving average of $4.13. The firm has a market capitalization of $315.80 million, a PE ratio of -3.75 and a beta of -0.39. enGene has a twelve month low of $2.65 and a twelve month high of $11.00. The company has a quick ratio of 12.66, a current ratio of 12.66 and a debt-to-equity ratio of 0.09.

enGene (NASDAQ:ENGN - Get Free Report) last released its quarterly earnings results on Thursday, September 11th. The company reported ($0.57) earnings per share for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.06). On average, equities analysts expect that enGene will post -1.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a "buy" rating and set a $25.00 target price on shares of enGene in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, enGene presently has an average rating of "Buy" and a consensus price target of $23.29.

enGene Company Profile

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.

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