Short Interest in enGene Holdings Inc. (NASDAQ:ENGN) Decreases By 50.9%

enGene Holdings Inc. (NASDAQ:ENGN - Get Free Report) was the recipient of a significant drop in short interest during the month of May. As of May 15th, there was short interest totalling 34,200 shares, a drop of 50.9% from the April 30th total of 69,700 shares. Based on an average daily volume of 57,800 shares, the short-interest ratio is currently 0.6 days. Approximately 0.1% of the company's stock are sold short.

Hedge Funds Weigh In On enGene

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ENGN. Deep Track Capital LP raised its stake in enGene by 74.8% during the 4th quarter. Deep Track Capital LP now owns 4,557,575 shares of the company's stock valued at $30,308,000 after buying an additional 1,949,942 shares during the last quarter. VR Adviser LLC raised its stake in enGene by 41.5% during the 4th quarter. VR Adviser LLC now owns 5,046,414 shares of the company's stock valued at $33,559,000 after buying an additional 1,480,573 shares during the last quarter. Fcpm Iii Services B.V. raised its stake in enGene by 11.0% during the 4th quarter. Fcpm Iii Services B.V. now owns 9,632,561 shares of the company's stock valued at $64,057,000 after buying an additional 954,610 shares during the last quarter. Orbimed Advisors LLC purchased a new stake in enGene during the 4th quarter valued at $6,120,000. Finally, Point72 Asset Management L.P. raised its stake in enGene by 84.7% during the 4th quarter. Point72 Asset Management L.P. now owns 1,224,797 shares of the company's stock valued at $8,145,000 after buying an additional 561,797 shares during the last quarter. 64.16% of the stock is owned by institutional investors.

enGene Stock Up 5.5%

ENGN stock traded up $0.22 during midday trading on Tuesday, hitting $4.20. The company's stock had a trading volume of 60,267 shares, compared to its average volume of 131,532. The company has a market cap of $214.11 million, a PE ratio of -7.24 and a beta of -0.36. enGene has a 12 month low of $2.65 and a 12 month high of $11.00. The company has a current ratio of 16.87, a quick ratio of 16.87 and a debt-to-equity ratio of 0.08. The firm's 50-day moving average is $3.95 and its 200-day moving average is $5.73.

Analysts Set New Price Targets

Several research firms have recently issued reports on ENGN. JMP Securities reiterated a "market outperform" rating and set a $18.00 target price on shares of enGene in a report on Tuesday, April 29th. HC Wainwright reiterated a "buy" rating and set a $25.00 target price on shares of enGene in a report on Tuesday, March 11th. UBS Group lowered shares of enGene from a "buy" rating to a "neutral" rating and lowered their target price for the company from $34.00 to $7.00 in a report on Friday, February 14th. Morgan Stanley lowered their target price on shares of enGene from $37.00 to $34.00 and set an "overweight" rating for the company in a report on Tuesday, March 11th. Finally, Piper Sandler assumed coverage on shares of enGene in a report on Tuesday, February 18th. They set an "overweight" rating and a $26.00 target price for the company. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and an average target price 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.