enGene Holdings Inc. (NASDAQ:ENGN) Sees Significant Growth in Short Interest

enGene Holdings Inc. (NASDAQ:ENGN) saw a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 160,300 shares, an increase of 821.3% from the June 15th total of 17,400 shares. Based on an average daily volume of 99,600 shares, the days-to-cover ratio is presently 1.6 days. Currently, 1.3% of the company’s stock are short sold.

Insider Activity

In other enGene news, major shareholder De Solidarite Des Travai Fonds sold 4,575 shares of the firm’s 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 owns 3,084,107 shares of the company’s stock, valued at $46,292,446.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 13.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ENGN. Fcpm Iii Services B.V. bought a new stake in shares of enGene in the 4th quarter valued at about $80,097,000. BVF Inc. IL purchased a new stake in shares of enGene in the 4th quarter valued at $20,777,000. Omega Fund Management LLC purchased a new position in shares of enGene during the fourth quarter worth $10,441,000. Janus Henderson Group PLC purchased a new stake in enGene in the first quarter valued at $17,095,000. Finally, Vivo Capital LLC acquired a new stake in enGene during the 4th quarter worth about $6,264,000. 64.16% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on ENGN shares. UBS Group assumed coverage on enGene in a report on Thursday, March 28th. They issued a “buy” rating and a $37.00 target price for the company. Wells Fargo & Company started coverage on shares of enGene in a research note on Monday, April 22nd. They set an “overweight” rating and a $30.00 target price on the stock. Finally, Guggenheim began coverage on shares of enGene in a report on Monday, April 15th. They set a “buy” rating and a $34.00 price objective for the company. Six investment 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 target price of $34.40.

enGene Stock Performance

Shares of enGene stock opened at $9.00 on Friday. enGene has a 1-year low of $6.69 and a 1-year high of $43.00. The company’s fifty day simple moving average is $10.66 and its 200-day simple moving average is $12.12.

enGene (NASDAQ:ENGN) last posted its quarterly earnings results on Friday, June 14th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.14). As a group, research analysts predict that enGene will post -1.33 EPS for the current year.

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.