enGene (NASDAQ:ENGN) Shares Gap Up – Should You Buy?

enGene Holdings Inc. (NASDAQ:ENGN) gapped up prior to trading on Wednesday . The stock had previously closed at $8.95, but opened at $9.16. enGene shares last traded at $8.9150, with a volume of 27,395 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ENGN shares. Oppenheimer reissued an “outperform” rating and set a $33.00 target price (up from $30.00) on shares of enGene in a report on Wednesday, November 12th. Morgan Stanley boosted their price objective on shares of enGene from $18.00 to $19.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 12th. Weiss Ratings restated a “sell (d-)” rating on shares of enGene in a report on Tuesday, October 14th. Citizens Jmp lifted their target price on enGene from $18.00 to $21.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 12th. Finally, Citigroup reiterated a “market outperform” rating on shares of enGene in a research report on Wednesday, November 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, enGene currently has an average rating of “Moderate Buy” and an average target price of $22.38.

enGene Price Performance

The firm has a market cap of $604.92 million, a P/E ratio of -3.94 and a beta of -0.29. The company has a quick ratio of 6.30, a current ratio of 6.30 and a debt-to-equity ratio of 0.09. The business’s 50 day moving average is $7.98 and its two-hundred day moving average is $6.09.

enGene (NASDAQ:ENGN) last issued its quarterly earnings results on Monday, December 22nd. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.18). As a group, analysts anticipate that enGene Holdings Inc. will post -1.56 earnings per share for the current year.

Hedge Funds Weigh In On enGene

Several institutional investors have recently added to or reduced their stakes in the business. Braidwell LP acquired a new stake in shares of enGene during the 3rd quarter worth approximately $15,479,000. Adage Capital Partners GP L.L.C. boosted its stake in enGene by 2.7% during 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. MAI Capital Management boosted its stake in 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 acquiring an additional 7,756 shares in the last quarter. Affinity Asset Advisors LLC acquired a new stake in enGene in the second quarter worth $280,000. Finally, Citadel Advisors LLC increased its stake in enGene by 153.3% in the third quarter. Citadel Advisors LLC now owns 58,370 shares of the company’s stock valued at $399,000 after purchasing an additional 35,327 shares in the last quarter. 64.16% of the stock is owned by institutional investors and hedge funds.

enGene Company Profile

enGene, Inc is a clinical‐stage biopharmaceutical company focused on the development of gene‐based therapeutics for oncology. The company’s core technology is the EnGene Delivery Vehicle (EDV) platform, which employs nonliving, bacterially derived minicells to transport therapeutic payloads directly to tumor cells. By combining targeted delivery with potent payloads, enGene aims to improve the precision and efficacy of cancer treatments while reducing off‐target toxicity.

Through its EDV platform, enGene has advanced multiple therapeutic candidates into preclinical and clinical stages.