enGene (NASDAQ:ENGN) Stock Price Down 5.7%

Shares of enGene Holdings Inc. (NASDAQ:ENGN - Get Free Report) were down 5.7% on Wednesday . The stock traded as low as $12.52 and last traded at $12.52. Approximately 821 shares traded hands during trading, a decline of 98% from the average daily volume of 53,480 shares. The stock had previously closed at $13.27.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ENGN shares. 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. Leerink Partnrs restated an "outperform" rating on shares of enGene in a research report on Tuesday, February 20th. SVB Leerink initiated coverage on enGene in a research report on Tuesday, February 20th. They issued an "outperform" rating and a $31.00 price objective for the company. Guggenheim initiated coverage on enGene in a research report on Monday, April 15th. They issued a "buy" rating and a $34.00 price objective for the company. Finally, Morgan Stanley initiated coverage on enGene in a research report on Friday, March 8th. They issued an "overweight" rating and a $40.00 price objective for the company. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $34.40.

enGene Price Performance

The company has a 50 day moving average of $15.76.

Insider Transactions at enGene

In other news, major shareholder De Solidarite Des Travai Fonds sold 47,854 shares of enGene stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $15.00, for a total value of $717,810.00. Following the sale, the insider now directly owns 3,036,153 shares of the company's stock, valued at $45,542,295. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 13.70% of the company's stock.

Hedge Funds Weigh In On enGene

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vivo Capital LLC acquired a new position in enGene during the fourth quarter worth $6,264,000. Fcpm Iii Services B.V. acquired a new position in enGene during the fourth quarter worth $80,097,000. Janus Henderson Group PLC acquired a new position in enGene during the first quarter worth $17,095,000. Altitude Crest Partners Inc. acquired a new position in enGene during the first quarter worth $2,039,000. Finally, BVF Inc. IL acquired a new position in enGene during the fourth quarter worth $20,777,000. Institutional investors and hedge funds 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.