enGene Holdings Announces Public Offering of Common Shares

An announcement from enGene Holdings ( (ENGN) ) is now available.

enGene Holdings Inc., a biotechnology company specializing in genetic medicines, announced a public offering of its common shares, with Jefferies, Leerink Partners, and Wells Fargo Securities as joint book-running managers. The offering aims to bolster enGene’s financial resources, potentially enhancing its market position and operational capabilities, though its completion is contingent on market conditions.

The most recent analyst rating on (ENGN) stock is a Buy with a $19.00 price target. To see the full list of analyst forecasts on enGene Holdings stock, see the ENGN Stock Forecast page.

Spark’s Take on ENGN Stock

According to Spark, TipRanks’ AI Analyst, ENGN is a Neutral.

enGene Holdings shows significant financial challenges, with no revenue generation and persistent losses impacting both income and cash flow statements. Technical indicators suggest bearish momentum, with the stock underperforming key moving averages. The valuation is further hampered by a negative P/E ratio and absence of dividends. These factors collectively result in a low overall stock score, highlighting the company’s urgent need to establish a revenue model and improve operational efficiency.

To see Spark’s full report on ENGN stock, click here.

More about enGene Holdings

enGene is a clinical-stage biotechnology company focused on genetic medicine, delivering therapeutics to mucosal tissues and other organs. Its lead program, detalimogene voraplasmid, targets non-muscle invasive bladder cancer, utilizing the proprietary Dually Derivatized Oligochitosan® (DDX) platform for effective delivery of genetic materials.

Average Trading Volume: 1,077,045

Technical Sentiment Signal: Buy

Current Market Cap: $307.7M

Learn more about ENGN stock on TipRanks’ Stock Analysis page.