enGene Holdings Inc. (NASDAQ:ENGN) Short Interest Up 472.4% in April

enGene Holdings Inc. (NASDAQ:ENGN) was the target of a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 72,700 shares, a growth of 472.4% from the March 31st total of 12,700 shares. Based on an average trading volume of 51,000 shares, the days-to-cover ratio is presently 1.4 days. Currently, 1.0% of the company’s stock are sold short.

enGene Trading Down 1.2 %

NASDAQ:ENGN traded down $0.17 during trading hours on Friday, hitting $14.55. 97,541 shares of the stock were exchanged, compared to its average volume of 44,216. enGene has a 52-week low of $6.69 and a 52-week high of $43.00. The business’s fifty day simple moving average is $16.21.

Insider Activity

In other news, major shareholder De Solidarite Des Travai Fonds sold 4,575 shares of enGene stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $15.01, for a total value of $68,670.75. Following the transaction, the insider now directly owns 3,084,107 shares in the company, valued at approximately $46,292,446.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Institutional Investors Weigh In On enGene

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ENGN shares. Wells Fargo & Company started coverage on enGene in a research note on Monday. They set an “overweight” rating and a $30.00 target price on the stock. Leerink Partnrs reaffirmed an “outperform” rating on shares of enGene in a research report on Tuesday, February 20th. UBS Group initiated coverage on enGene in a research report on Thursday, March 28th. They set a “buy” rating and a $37.00 price target for the company. Guggenheim initiated coverage on enGene in a research report on Monday, April 15th. They set a “buy” rating and a $34.00 price target for the company. Finally, Morgan Stanley initiated coverage on enGene in a research report on Friday, March 8th. They set an “overweight” rating and a $40.00 price target for the company. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $34.40.

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.