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enGene Holdings ( (ENGN) ) just unveiled an announcement.
enGene Holdings Inc., a biotechnology company specializing in genetic medicine, has announced the pricing of its public offering, aiming to raise approximately $130 million through the sale of common shares and pre-funded warrants. This move is expected to bolster enGene’s financial position as it continues to advance its clinical programs, particularly its lead program for non-muscle invasive bladder cancer. The offering, managed by several prominent financial institutions, highlights enGene’s strategic efforts to secure funding for its innovative therapeutic developments.
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 to address diseases with high clinical needs. Its lead program, detalimogene voraplasmid, targets non-muscle invasive bladder cancer and is being evaluated in a Phase 2 trial.
Average Trading Volume: 1,077,045
Technical Sentiment Signal: Buy
Current Market Cap: $307.7M
For a thorough assessment of ENGN stock, go to TipRanks’ Stock Analysis page.