enGene (NASDAQ:ENGN) Stock Crosses Above 50 Day Moving Average - Should You Sell?

Key Points

• Shares edged above their 50-day moving average: enGene traded as high as $1.81 and last changed hands at $1.80, compared with a 50-day average of $1.77; its 200-day average is $4.06.
• Analysts’ consensus rating is Hold, with an average price target of $10.05. Ratings are mixed, ranging from Strong Buy to Sell.
• Potential progress on the company’s bladder-cancer candidate includes a pivotal-trial update and a possible start to the BLA submission process by year-end. enGene also reported a quarterly loss of $0.47 per share, missing the $0.43-per-share loss analysts expected.

enGene Holdings Inc. (NASDAQ:ENGN - Get Free Report) shares crossed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $1.77 and traded as high as $1.81. enGene shares last traded at $1.80, with a volume of 2,722,938 shares changing hands.

Key enGene News

Here's some of the latest news about ENGN:

• Positive Sentiment: Starting the BLA submission process by year-end would mark progress toward potential regulatory review of detalimogene, while the pivotal-trial update provides a fresh clinical milestone.
• Neutral Sentiment: A report on short interest stated that the total was zero shares as of November 10, despite describing a large increase. That internally inconsistent figure offers no clear signal about bearish positioning.

Wall Street Analyst Weigh In

ENGN has been the topic of several recent research reports. HC Wainwright reiterated a "buy" rating on shares of enGene in a research report on Friday, October 16th. Jefferies Financial Group upgraded shares of enGene to a "strong-buy" rating in a research note on Tuesday, October 13th. Weiss Ratings cut enGene from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, October 30th. Citizens Jmp reaffirmed a "market perform" rating on shares of enGene in a report on Wednesday, September 9th. Finally, Wall Street Zen upgraded enGene from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $10.05.

enGene Price Performance

The stock has a market capitalization of $120.64 million, a P/E ratio of -0.87 and a beta of -0.24. The company has a current ratio of 10.21, a quick ratio of 10.21 and a debt-to-equity ratio of 0.11. The stock has a 50 day moving average of $1.77 and a 200-day moving average of $4.06.

enGene (NASDAQ:ENGN - Get Free Report) last posted its quarterly earnings results on Tuesday, September 8th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.04). On average, equities research analysts anticipate that enGene Holdings Inc. will post -1.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On enGene

Large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP bought a new position in shares of enGene during the first quarter valued at approximately $251,000. Sei Investments Co. bought a new position in enGene in the first quarter worth approximately $409,000. Renaissance Technologies LLC raised its stake in enGene by 651.1% in the first quarter. Renaissance Technologies LLC now owns 156,100 shares of the company's stock worth $1,063,000 after buying an additional 135,318 shares in the last quarter. SR One Capital Management LP purchased a new stake in enGene during the second quarter worth $1,293,607. Finally, Monashee Investment Management LLC lifted its holdings in enGene by 8.5% during the first quarter. Monashee Investment Management LLC now owns 320,000 shares of the company's stock worth $2,179,000 after buying an additional 25,000 shares during the period. 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. The company was founded in 2023 and is based in Saint-Laurent, Canada.

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