enGene (NASDAQ:ENGN) Share Price Breaks Above Fifty Day Moving Average – Time to Sell?

enGene Holdings Inc. (NASDAQ:ENGN) shares passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $1.77 and traded as high as $1.81. enGene shares last traded at $1.80, with a volume of 2,722,938 shares.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Piper Sandler upgraded enGene from a “neutral” rating to an “overweight” rating and set a $4.00 target price on the stock in a report on Thursday. HC Wainwright restated a “buy” rating on shares of enGene in a research note on Friday, October 16th. Raymond James Financial restated an “outperform” rating on shares of enGene in a research note on Thursday. Wall Street Zen upgraded enGene from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. Finally, Citizens Jmp reaffirmed a “market perform” rating on shares of enGene in a research note on Wednesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $10.75.

enGene Stock Up 5.7%

The firm’s 50-day moving average price is $1.79 and its 200-day moving average price is $3.97. The company has a quick ratio of 10.21, a current ratio of 10.21 and a debt-to-equity ratio of 0.11.

enGene (NASDAQ:ENGN) last posted its earnings results on Tuesday, September 8th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.04). Research analysts anticipate that enGene Holdings Inc. will post -1.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ENGN. Siren L.L.C. boosted its position in shares of enGene by 57.5% in the first quarter. Siren L.L.C. now owns 5,253,159 shares of the company’s stock worth $35,774,000 after buying an additional 1,916,895 shares during the period. Eversept Partners LP grew its stake in shares of enGene by 12.0% in the first quarter. Eversept Partners LP now owns 510,543 shares of the company’s stock valued at $3,477,000 after buying an additional 54,708 shares in the last quarter. Monashee Investment Management LLC raised its holdings in shares of enGene by 8.5% during the 1st quarter. Monashee Investment Management LLC now owns 320,000 shares of the company’s stock valued at $2,179,000 after buying an additional 25,000 shares during the period. SR One Capital Management LP purchased a new stake in shares of enGene during the 2nd quarter valued at about $1,293,607. Finally, Renaissance Technologies LLC raised its holdings in shares of enGene by 651.1% during the 1st quarter. Renaissance Technologies LLC now owns 156,100 shares of the company’s stock valued at $1,063,000 after buying an additional 135,318 shares during the period. 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. The company was founded in 2023 and is based in Saint-Laurent, Canada.