enGene Holdings Inc. (NASDAQ:ENGN) Sees Significant Increase in Short Interest

Key Points

• Short interest jumped 16.2% in April to 1,330,981 shares (2.2% of shares outstanding) with a days-to-cover ratio of 6.7, signaling rising bearish positioning.
• ENGN traded at $7.20 with a market cap of $482.3M and recently beat quarterly EPS estimates ($0.44 loss vs. $0.55 expected), though analysts still project a negative full-year EPS of -2.06.
• Analyst sentiment is mixed but tilted positive, with an average MarketBeat rating of "Moderate Buy" and an average target price of $22.69, while institutional investors own about 64.16% of the stock.

enGene Holdings Inc. (NASDAQ:ENGN - Get Free Report) saw a significant growth in short interest during the month of April. As of April 15th, there was short interest totaling 1,330,981 shares, a growth of 16.2% from the March 31st total of 1,145,907 shares. Based on an average daily volume of 199,435 shares, the days-to-cover ratio is currently 6.7 days. Currently, 2.2% of the shares of the company are short sold.

enGene Price Performance

Shares of ENGN stock traded up $0.16 on Thursday, hitting $7.20. 54,774 shares of the stock traded hands, compared to its average volume of 408,779. The firm has a market cap of $482.29 million, a price-to-earnings ratio of -3.21 and a beta of -0.06. enGene has a 52 week low of $2.65 and a 52 week high of $12.25. The firm has a 50 day simple moving average of $7.90 and a two-hundred day simple moving average of $8.37. The company has a debt-to-equity ratio of 0.09, a current ratio of 11.75 and a quick ratio of 11.75.

enGene (NASDAQ:ENGN - Get Free Report) last announced its quarterly earnings data on Monday, March 9th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.11. As a group, equities research analysts predict that enGene will post -2.06 earnings per share for the current fiscal year.

Institutional Trading of enGene

A number of institutional investors and hedge funds have recently bought and sold shares of ENGN. Cresset Asset Management LLC bought a new stake in enGene in the 2nd quarter valued at $36,000. Paloma Partners Management Co bought a new stake in enGene in the 2nd quarter valued at $38,000. Raymond James Financial Inc. increased 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 acquiring an additional 7,932 shares during the last quarter. Hudson Bay Capital Management LP bought a new stake in enGene in the 3rd quarter valued at $76,000. Finally, PFS Partners LLC increased its holdings in enGene by 22.2% in the 4th quarter. PFS Partners LLC now owns 11,000 shares of the company's stock valued at $99,000 after acquiring an additional 2,000 shares during the last quarter. 64.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. WBB Securities assumed coverage on shares of enGene in a report on Monday, April 13th. They issued a "buy" rating and a $21.50 target price on the stock. Oppenheimer dropped their price target on shares of enGene from $33.00 to $30.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 11th. Wall Street Zen cut shares of enGene from a "hold" rating to a "sell" rating in a research note on Saturday, April 18th. Raymond James Financial reiterated a "strong-buy" rating and set a $27.00 price target on shares of enGene in a research note on Monday, March 9th. Finally, Guggenheim reiterated a "buy" rating on shares of enGene in a research note on Tuesday, March 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $22.69.

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.

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