enGene Holdings Inc. (NASDAQ:ENGN) Short Interest Up 63.1% in October

enGene Holdings Inc. (NASDAQ:ENGN) saw a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 813,000 shares, a growth of 63.1% from the September 30th total of 498,500 shares. Approximately 4.6% of the company’s shares are sold short. Based on an average daily volume of 195,500 shares, the days-to-cover ratio is currently 4.2 days.

Insider Buying and Selling

In related news, major shareholder Growth Opportunities F. Forbion bought 341,332 shares of enGene stock in a transaction dated Monday, September 30th. The shares were acquired at an average cost of $6.34 per share, with a total value of $2,164,044.88. Following the completion of the transaction, the insider now owns 2,400,791 shares in the company, valued at $15,221,014.94. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder Growth Opportunities F. Forbion bought 341,332 shares of the stock in a transaction on Monday, September 30th. The stock was bought at an average cost of $6.34 per share, for a total transaction of $2,164,044.88. Following the completion of the purchase, the insider now directly owns 2,400,791 shares in the company, valued at approximately $15,221,014.94. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Growth Opportunities F. Forbion bought 41,639 shares of the stock in a transaction on Friday, September 27th. The stock was purchased at an average price of $5.97 per share, with a total value of $248,584.83. Following the completion of the purchase, the insider now owns 2,059,459 shares of the company’s stock, valued at $12,294,970.23. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 420,965 shares of company stock valued at $2,651,103 in the last ninety days. 13.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Altitude Crest Partners Inc. purchased a new position in enGene in the first quarter valued at $2,039,000. SR One Capital Management LP purchased a new stake in shares of enGene during the second quarter worth about $4,715,000. Janus Henderson Group PLC purchased a new stake in shares of enGene during the first quarter worth about $17,095,000. Finally, Logos Global Management LP increased its stake in shares of enGene by 50.0% during 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 in the last quarter. Hedge funds and other institutional investors own 64.16% of the company’s stock.

enGene Stock Performance

Shares of enGene stock opened at $9.07 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 19.52 and a quick ratio of 19.52. The firm has a fifty day moving average price of $7.03 and a 200 day moving average price of $9.52. enGene has a 1 year low of $4.42 and a 1 year high of $43.00.

enGene (NASDAQ:ENGN) last released its quarterly earnings data on Tuesday, September 10th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.05. Equities research analysts anticipate that enGene will post -1.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ENGN has been the subject of several research reports. Oppenheimer reiterated an “outperform” rating and set a $30.00 price objective on shares of enGene in a research note on Tuesday, September 24th. Morgan Stanley reiterated an “overweight” rating and set a $40.00 price objective on shares of enGene in a research note on Wednesday, September 11th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $33.67.

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.