enGene (NASDAQ:ENGN) Trading Down 5.4%

enGene Holdings Inc. (NASDAQ:ENGN) dropped 5.4% during trading on Tuesday . The stock traded as low as $14.50 and last traded at $14.65. Approximately 309,038 shares were traded during trading, an increase of 421% from the average daily volume of 59,352 shares. The stock had previously closed at $15.49.

Analyst Ratings Changes

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

enGene Price Performance

The stock’s 50 day simple moving average is $16.21.

Insider Buying and Selling at enGene

In other enGene news, major shareholder De Solidarite Des Travai Fonds sold 4,575 shares of the stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $15.01, for a total transaction of $68,670.75. Following the completion of the transaction, the insider now directly owns 3,084,107 shares of the company’s stock, valued at $46,292,446.07. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ENGN. Vivo Capital LLC purchased a new stake in enGene during the fourth quarter valued at about $6,264,000. Omega Fund Management LLC bought a new position in enGene in the 4th quarter worth approximately $10,441,000. BVF Inc. IL purchased a new position in enGene in the 4th quarter valued at approximately $20,777,000. Finally, Fcpm Iii Services B.V. bought a new stake in enGene during the 4th quarter valued at $80,097,000. Institutional investors own 64.16% of the company’s stock.

About enGene

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.