enGene (NASDAQ:ENGN) Stock Price Up 0.3% - Here's Why

Key Points

• enGene Holdings Inc.'s stock has risen by 0.3%, trading last at $3.69, though the trading volume has declined 60% compared to the average.
• Analysts maintain a consensus rating of "Buy" for enGene, with a target price of $23.29, despite a recent earnings miss where EPS was reported at ($0.51).
• Institutional investors hold 64.16% of enGene's stock, with significant recent purchases from funds like Deep Track Capital LP, which increased its stake by 74.8%.

enGene Holdings Inc. (NASDAQ:ENGN - Get Free Report)'s stock price rose 0.3% on Monday . The company traded as high as $3.80 and last traded at $3.69. Approximately 40,457 shares traded hands during trading, a decline of 60% from the average daily volume of 101,386 shares. The stock had previously closed at $3.68.

Analysts Set New Price Targets

Separately, JMP Securities restated a "market outperform" rating and set a $18.00 price objective on shares of enGene in a research note on Tuesday, April 29th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $23.29.

enGene Stock Performance

The business's fifty day moving average price is $3.57 and its 200-day moving average price is $4.36. The company has a debt-to-equity ratio of 0.09, a quick ratio of 12.66 and a current ratio of 12.66. The stock has a market cap of $188.07 million, a PE ratio of -2.23 and a beta of -0.41.

enGene (NASDAQ:ENGN - Get Free Report) last announced its quarterly earnings results on Tuesday, June 10th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.48) by ($0.03). As a group, equities research analysts forecast that enGene Holdings Inc. will post -1.56 EPS for the current fiscal year.

Institutional Trading of enGene

A number of institutional investors have recently made changes to their positions in ENGN. Cresset Asset Management LLC purchased a new stake in shares of enGene during the 2nd quarter valued at about $36,000. Paloma Partners Management Co purchased a new stake in shares of enGene during the 2nd quarter valued at about $38,000. Jane Street Group LLC purchased a new position in shares of enGene in the fourth quarter worth approximately $93,000. Toronto Dominion Bank purchased a new position in shares of enGene in the fourth quarter worth approximately $97,000. Finally, Cubist Systematic Strategies LLC boosted its holdings in shares of enGene by 15.7% in the fourth quarter. Cubist Systematic Strategies LLC now owns 15,342 shares of the company's stock worth $102,000 after buying an additional 2,080 shares during the last quarter. Hedge funds and other institutional investors own 64.16% of the company's stock.

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.