enGene (NASDAQ:ENGN) Trading 5.1% Higher - Time to Buy?

enGene Holdings Inc. (NASDAQ:ENGN - Get Free Report) shares shot up 5.1% during trading on Tuesday . The company traded as high as $3.51 and last traded at $3.51. 33,009 shares traded hands during trading, a decline of 73% from the average session volume of 123,405 shares. The stock had previously closed at $3.34.

Analyst Ratings Changes

Separately, JMP Securities reaffirmed a "market outperform" rating and set a $18.00 price target on shares of enGene in a research report 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's stock. Based on data from MarketBeat, enGene has a consensus rating of "Buy" and an average target price of $23.29.

enGene Stock Performance

The company has a debt-to-equity ratio of 0.09, a current ratio of 12.66 and a quick ratio of 12.66. The company has a 50 day simple moving average of $3.60 and a 200-day simple moving average of $4.86. The stock has a market cap of $193.69 million, a P/E ratio of -2.30 and a beta of -0.42.

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

Hedge Funds Weigh In On enGene

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ENGN. Fcpm Iii Services B.V. raised its holdings in enGene by 11.0% in the 4th quarter. Fcpm Iii Services B.V. now owns 9,632,561 shares of the company's stock worth $64,057,000 after purchasing an additional 954,610 shares during the period. VR Adviser LLC grew its holdings 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 in the last quarter. Deep Track Capital LP grew its holdings 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 in the last quarter. Blue Owl Capital Holdings LP grew its holdings in enGene by 3.3% during the 4th quarter. Blue Owl Capital Holdings LP now owns 3,159,975 shares of the company's stock valued at $21,014,000 after buying an additional 101,006 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its position in enGene by 2.7% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,571,642 shares of the company's stock worth $7,041,000 after acquiring an additional 41,874 shares in the last quarter. 64.16% of the stock is owned by institutional investors.

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.