enGene (NASDAQ:ENGN) Trading Down 5.4%

enGene Holdings Inc. (NASDAQ:ENGN)’s stock price fell 5.4% during mid-day trading on Tuesday . The company traded as low as $14.50 and last traded at $14.65. 309,038 shares changed hands during mid-day trading, an increase of 421% from the average session volume of 59,352 shares. The stock had previously closed at $15.49.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ENGN shares. Leerink Partnrs reaffirmed an “outperform” rating on shares of enGene in a research report on Tuesday, February 20th. Guggenheim initiated coverage on shares of enGene in a report on Monday, April 15th. They issued a “buy” rating and a $34.00 price target for the company. SVB Leerink initiated coverage on shares of enGene in a report on Tuesday, February 20th. They set an “outperform” rating and a $31.00 price objective on the stock. Morgan Stanley started coverage on shares of enGene in a research note on Friday, March 8th. They issued an “overweight” rating and a $40.00 target price for the company. Finally, Wells Fargo & Company started coverage on enGene in a research note on Monday, April 22nd. They issued an “overweight” rating and a $30.00 price target on the stock. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $34.40.

enGene Price Performance

The firm’s fifty day moving average price is $16.21.

Insider Buying and Selling at enGene

In other news, major shareholder De Solidarite Des Travai Fonds sold 47,854 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $15.00, for a total transaction of $717,810.00. Following the sale, the insider now owns 3,036,153 shares in the company, valued at approximately $45,542,295. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Vivo Capital LLC bought a new position in shares of enGene during the 4th quarter worth approximately $6,264,000. BVF Inc. IL acquired a new stake in enGene during the 4th quarter valued at $20,777,000. Omega Fund Management LLC bought a new position in enGene during the fourth quarter worth $10,441,000. Finally, Fcpm Iii Services B.V. acquired a new position in shares of enGene in the fourth quarter valued at $80,097,000. 64.16% of the stock is currently owned by institutional investors and hedge funds.

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.