Short Interest in enGene Holdings Inc. (NASDAQ:ENGN) Rises By 130.0%

enGene Holdings Inc. (NASDAQ:ENGN) saw a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 498,500 shares, a growth of 130.0% from the September 15th total of 216,700 shares. Based on an average daily volume of 187,600 shares, the days-to-cover ratio is currently 2.7 days. Approximately 3.1% of the company’s shares are sold short.

enGene Stock Performance

Shares of ENGN stock traded up $0.33 during mid-day trading on Friday, hitting $7.19. The stock had a trading volume of 39,046 shares, compared to its average volume of 109,082. enGene has a fifty-two week low of $4.42 and a fifty-two week high of $43.00. The company has a quick ratio of 19.52, a current ratio of 19.52 and a debt-to-equity ratio of 0.09. The company’s 50-day simple moving average is $6.60 and its 200-day simple moving average is $10.15.

enGene (NASDAQ:ENGN) last released its earnings results on Tuesday, September 10th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.05. As a group, sell-side analysts anticipate that enGene will post -1.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Oppenheimer reiterated an “outperform” rating and set a $30.00 target price on shares of enGene in a report on Tuesday, September 24th. Morgan Stanley reaffirmed an “overweight” rating and issued a $40.00 target price on shares of enGene in a research report on Wednesday, September 11th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $33.67.

Insider Buying and Selling at enGene

In related news, CEO Ronald Harold Wilfred Cooper acquired 10,000 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were purchased at an average cost of $5.70 per share, for a total transaction of $57,000.00. Following the acquisition, the chief executive officer now owns 10,000 shares in the company, valued at $57,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 13.70% of the stock is currently owned by company insiders.

Institutional Trading of enGene

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Altitude Crest Partners Inc. purchased a new position in enGene during the 1st quarter valued at about $2,039,000. SR One Capital Management LP purchased a new position in enGene during the 2nd quarter valued at about $4,715,000. Omega Fund Management LLC purchased a new position in enGene during the 4th quarter valued at about $10,441,000. Logos Global Management LP increased its holdings in enGene by 50.0% during the 2nd quarter. Logos Global Management LP now owns 1,200,000 shares of the company’s stock valued at $11,316,000 after acquiring an additional 400,000 shares in the last quarter. Finally, Janus Henderson Group PLC purchased a new position in enGene during the 1st quarter valued at about $17,095,000. Institutional investors and hedge funds own 64.16% of the company’s stock.

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.