Short Interest in enGene Holdings Inc. (NASDAQ:ENGN) Declines By 56.8%

Key Points

• Short interest in enGene Holdings Inc. has dropped by 56.8%, from 23,400 shares on July 15 to 10,100 shares by July 31, indicating reduced bearish sentiment towards the stock.
• JMP Securities has reaffirmed a "market outperform" rating for enGene with a price target of $18.00, while the average target price among analysts is $23.29.
• enGene's stock is currently valued at $3.68, having a market cap of $188.05 million, and the company is focused on developing genetic medicines for treating cancers.

enGene Holdings Inc. (NASDAQ:ENGN - Get Free Report) saw a significant decline in short interest during the month of July. As of July 31st, there was short interest totaling 10,100 shares, adeclineof56.8% from the July 15th total of 23,400 shares. Approximately0.1% of the company's shares are short sold. Based on an average trading volume of 96,200 shares, the days-to-cover ratio is currently 0.1 days. Based on an average trading volume of 96,200 shares, the days-to-cover ratio is currently 0.1 days. Approximately0.1% of the company's shares are short sold.

enGene Trading Up 1.3%

NASDAQ:ENGN traded up $0.05 on Thursday, reaching $3.91. The company's stock had a trading volume of 42,292 shares, compared to its average volume of 85,677. enGene has a 1-year low of $2.65 and a 1-year high of $11.00. 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 firm has a market cap of $199.80 million, a PE ratio of -2.37 and a beta of -0.41. The business's 50-day moving average price is $3.60 and its two-hundred day moving average price is $4.29.

enGene (NASDAQ:ENGN - Get Free Report) last posted its 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). Equities research analysts anticipate that enGene will post -1.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC boosted its position in shares of enGene by 15.7% during 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 period. MAI Capital Management boosted its position in shares of enGene by 11.0% during the first quarter. MAI Capital Management now owns 78,067 shares of the company's stock worth $350,000 after buying an additional 7,756 shares during the period. Cresset Asset Management LLC acquired a new position in shares of enGene during the second quarter worth about $36,000. Paloma Partners Management Co acquired a new position in shares of enGene during the second quarter worth about $38,000. Finally, Jane Street Group LLC acquired a new position in shares of enGene during the fourth quarter worth about $93,000. 64.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, JMP Securities reiterated a "market outperform" rating and issued a $18.00 price objective on shares of enGene in a report on Tuesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $23.29.

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.