enGene Holdings Inc. (NASDAQ:ENGN) Short Interest Up 31.3% in August

enGene Holdings Inc. (NASDAQ:ENGN) was the target of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 156,200 shares, a growth of 31.3% from the August 15th total of 119,000 shares. Approximately 1.0% of the shares of the company are sold short. Based on an average daily volume of 134,100 shares, the days-to-cover ratio is currently 1.2 days.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ENGN. Janus Henderson Group PLC bought a new position in enGene in the 1st quarter valued at approximately $17,095,000. BVF Inc. IL bought a new position in shares of enGene during the fourth quarter valued at $20,777,000. Omega Fund Management LLC acquired a new position in shares of enGene during the fourth quarter worth $10,441,000. Logos Global Management LP grew its stake in shares of enGene by 50.0% in the second quarter. Logos Global Management LP now owns 1,200,000 shares of the company’s stock worth $11,316,000 after purchasing an additional 400,000 shares during the last quarter. Finally, SR One Capital Management LP acquired a new stake in enGene in the second quarter valued at $4,715,000. 64.16% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ENGN shares. Oppenheimer initiated coverage on shares of enGene in a research report on Wednesday, August 28th. They set an “outperform” rating and a $30.00 price target on the stock. Morgan Stanley restated an “overweight” rating and set a $40.00 target price on shares of enGene in a research report on Wednesday, September 11th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, enGene currently has an average rating of “Buy” and a consensus price target of $33.67.

enGene Price Performance

NASDAQ ENGN traded up $0.10 during trading on Monday, hitting $6.79. 36,328 shares of the company’s stock were exchanged, compared to its average volume of 85,947. The stock’s 50 day moving average price is $7.45 and its two-hundred day moving average price is $11.35. enGene has a fifty-two week low of $4.94 and a fifty-two week high of $43.00. The company has a current ratio of 19.52, a quick ratio of 42.80 and a debt-to-equity ratio of 0.09. The company has a market cap of $299.91 million, a PE ratio of -4.09 and a beta of -0.68.

enGene (NASDAQ:ENGN) last issued its quarterly earnings data on Tuesday, September 10th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.05. Research analysts expect that enGene will post -1.49 EPS for the current year.

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.