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

Key Points

• enGene Holdings Inc. saw a significant increase in short interest, rising by 219.9% from August to September, with total short interest amounting to 45,100 shares.
• The stock price of enGene rose 7.1% to $8.14, while institutional investors hold 64.16% of the company's stock.
• Despite a miss on earnings with reported EPS of ($0.57), analysts maintain a consensus "Buy" rating for the stock with an average price target of $19.50.

enGene Holdings Inc. (NASDAQ:ENGN - Get Free Report) was the target of a significant increase in short interest during the month of September. As of September 15th, there was short interest totaling 45,100 shares, an increase of 219.9% from the August 31st total of 14,100 shares. Based on an average daily volume of 167,800 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.2% of the company's stock are short sold. Approximately 0.2% of the company's stock are short sold. Based on an average daily volume of 167,800 shares, the days-to-cover ratio is presently 0.3 days.

Hedge Funds Weigh In On enGene

Large investors have recently added to or reduced their stakes in the business. Cresset Asset Management LLC bought a new stake in shares of enGene during the 2nd quarter worth $36,000. Paloma Partners Management Co bought a new stake in shares of enGene during the 2nd quarter valued at $38,000. Jane Street Group LLC purchased a new position in shares of enGene in the 4th quarter worth $93,000. ADAR1 Capital Management LLC purchased a new position in shares of enGene during the 1st quarter worth about $107,000. Finally, Affinity Asset Advisors LLC bought a new position in shares of enGene during the 2nd quarter worth approximately $280,000. Institutional investors own 64.16% of the company's stock.

enGene Stock Up 7.1%

NASDAQ:ENGN traded up $0.54 during trading hours on Thursday, hitting $8.14. 304,665 shares of the company's stock traded hands, compared to its average volume of 354,155. The company has a debt-to-equity ratio of 0.09, a quick ratio of 10.34 and a current ratio of 10.34. enGene has a twelve month low of $2.65 and a twelve month high of $11.00. The stock's fifty day moving average price is $4.99 and its two-hundred day moving average price is $4.25. The firm has a market cap of $416.69 million, a P/E ratio of -4.28 and a beta of -0.27.

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

Analyst Ratings Changes

ENGN has been the subject of several research analyst reports. Morgan Stanley dropped their target price on shares of enGene from $19.00 to $18.00 and set an "overweight" rating for the company in a research report on Friday, September 12th. HC Wainwright reiterated a "buy" rating and issued a $25.00 price target on shares of enGene in a report on Monday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $19.50.

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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