enGene (NASDAQ:ENGN) Shares Gap Down to $13.14

enGene Holdings Inc. (NASDAQ:ENGN) shares gapped down prior to trading on Friday . The stock had previously closed at $13.14, but opened at $12.87. enGene shares last traded at $12.60, with a volume of 2,796 shares trading hands.

Analyst Ratings Changes

ENGN has been the topic of a number of research reports. Guggenheim began coverage on enGene in a research note on Monday, April 15th. They set a “buy” rating and a $34.00 price target on the stock. UBS Group began coverage on shares of enGene in a research report on Thursday, March 28th. They issued a “buy” rating and a $37.00 price target on the stock. Wells Fargo & Company initiated coverage on enGene in a research report on Monday, April 22nd. They set an “overweight” rating and a $30.00 target price on the stock. SVB Leerink began coverage on shares of enGene in a report on Tuesday, February 20th. They issued an “outperform” rating and a $31.00 target price for the company. Finally, Leerink Partnrs restated an “outperform” rating on shares of enGene in a report on Tuesday, February 20th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, enGene has a consensus rating of “Buy” and an average price target of $34.40.

enGene Price Performance

The stock has a 50-day simple moving average of $15.62 and a 200-day simple moving average of $11.90.

Insider Buying and Selling at enGene

In related 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 shares were sold at an average price of $15.00, for a total transaction of $717,810.00. Following the sale, the insider now directly owns 3,036,153 shares in the company, valued at approximately $45,542,295. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Vivo Capital LLC purchased a new stake in enGene in the 4th quarter worth approximately $6,264,000. Fcpm Iii Services B.V. bought a new position in shares of enGene in the fourth quarter worth $80,097,000. Janus Henderson Group PLC purchased a new stake in shares of enGene in the first quarter worth $17,095,000. Altitude Crest Partners Inc. bought a new stake in enGene during the first quarter valued at $2,039,000. Finally, BVF Inc. IL purchased a new position in enGene during the fourth quarter worth about $20,777,000. Hedge funds and other 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.