Why enGene Holdings Stock Is Trading Higher - enGene Therapeutics (NASDAQ:ENGN)

enGene Holdings Inc (NASDAQ:ENGN) shares are trading higher by 7.2% to $9.54 during Friday’s session. The company announced it generated approximately $60 million in proceeds from a private placement.

enGene announced a private placement to sell 6,758,311 common shares at $8.90 each, aiming to raise approximately $60 million before expenses. This financing is set to close on October 29, pending standard conditions, and involves participation from both new and existing investors, such as Deep Track Capital and Venrock Healthcare Capital Partners.

The company says funds will support the development of enGene’s lead product, detalimogene voraplasmid, pre-commercial activities, potential expansion of the DDX platform, and general corporate needs.

Combined with existing cash, these proceeds are expected to sustain operations through 2027.

How To Buy ENGN Stock

By now you're likely curious about how to participate in the market for enGene Holdings – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.

In the the case of enGene Holdings, which is trading at $9.75 as of publishing time, $100 would buy you 10.26 shares of stock.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

According to data from Benzinga Pro, ENGN has a 52-week high of $43.00 and a 52-week low of $4.42.

ENGNenGene Therapeutics Inc

$7.12-2.06%

Overview

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