enGene Holdings Inc. (NASDAQ:ENGN) Short Interest Down 25.3% in March

Key Points

• Short interest fell 25.3% in March to 922,661 shares (about 1.5% of shares sold short) with a days-to-cover ratio of 1.0 based on average daily volume.
• Analysts are generally positive: MarketBeat shows a consensus rating of "Moderate Buy" with a $22.86 target (1 Strong Buy, 7 Buy, 1 Hold, 1 Sell).
• Shares traded down 8.5% to $6.37 midday; the company has a $426.7M market cap and recently beat quarterly EPS estimates (loss of $0.44 vs. -$0.55 expected), while analysts forecast -1.56 EPS for the year.

enGene Holdings Inc. (NASDAQ:ENGN - Get Free Report) was the target of a significant drop in short interest during the month of March. As of March 13th, there was short interest totaling 922,661 shares, a drop of 25.3% from the February 26th total of 1,235,753 shares. Based on an average daily volume of 906,038 shares, the days-to-cover ratio is presently 1.0 days. Currently, 1.5% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Cresset Asset Management LLC bought a new stake in shares of enGene during the 2nd quarter worth approximately $36,000. Paloma Partners Management Co purchased a new stake in enGene in the second quarter worth $38,000. PFS Partners LLC purchased a new stake in enGene in the third quarter worth $61,000. Raymond James Financial Inc. lifted its position in shares of enGene by 383.6% during the third quarter. Raymond James Financial Inc. now owns 10,000 shares of the company's stock worth $68,000 after purchasing an additional 7,932 shares during the last quarter. Finally, Hudson Bay Capital Management LP purchased a new stake in shares of enGene during the third quarter valued at $76,000. Institutional investors own 64.16% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ENGN. Weiss Ratings restated a "sell (d-)" rating on shares of enGene in a report on Friday, January 9th. Citigroup reiterated a "market outperform" rating on shares of enGene in a research report on Monday, January 5th. Guggenheim reissued a "buy" rating on shares of enGene in a research note on Tuesday, March 10th. HC Wainwright restated a "buy" rating and set a $25.00 price objective on shares of enGene in a research report on Monday, March 9th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $27.00 price objective on shares of enGene in a research note on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, enGene presently has an average rating of "Moderate Buy" and a consensus target price of $22.86.

enGene Trading Down 8.5%

Shares of ENGN traded down $0.59 during midday trading on Friday, hitting $6.37. The stock had a trading volume of 162,375 shares, compared to its average volume of 601,208. The stock's 50 day moving average is $9.06 and its 200 day moving average is $8.29. The firm has a market cap of $426.73 million, a PE ratio of -2.83 and a beta of -0.29. 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 has a 1 year low of $2.65 and a 1 year high of $12.25.

enGene (NASDAQ:ENGN - Get Free Report) last issued its quarterly earnings results 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, analysts forecast that enGene will post -1.56 EPS for the current fiscal year.

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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