Short Interest in enGene Holdings Inc. (NASDAQ:ENGN) Drops By 82.8%

enGene Holdings Inc. (NASDAQ:ENGN) was the target of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 8,200 shares, a decrease of 82.8% from the February 29th total of 47,600 shares. Based on an average daily volume of 42,600 shares, the short-interest ratio is presently 0.2 days. Approximately 0.1% of the company’s shares are sold short.

enGene Price Performance

Shares of ENGN traded down $0.29 during midday trading on Thursday, reaching $16.95. 34,993 shares of the stock were exchanged, compared to its average volume of 45,045. enGene has a 12-month low of $6.69 and a 12-month high of $43.00. The business has a 50 day simple moving average of $13.16.

Institutional Investors Weigh In On enGene

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fcpm Iii Services B.V. acquired a new position in shares of enGene during the 4th quarter valued at about $80,097,000. BVF Inc. IL acquired a new position in shares of enGene during the 4th quarter valued at about $20,777,000. Blue Owl Capital Holdings LP acquired a new position in shares of enGene during the 4th quarter valued at about $11,397,000. Omega Fund Management LLC acquired a new position in shares of enGene during the 4th quarter valued at about $10,441,000. Finally, Vivo Capital LLC acquired a new position in shares of enGene during the 4th quarter valued at about $6,264,000. 64.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Morgan Stanley assumed coverage on enGene in a report on Friday, March 8th. They set an “overweight” rating and a $40.00 target price for the company. UBS Group initiated coverage on enGene in a report on Thursday. They set a “buy” rating and a $37.00 target price for the company. Leerink Partnrs reissued an “outperform” rating on shares of enGene in a research note on Tuesday, February 20th. Finally, SVB Leerink initiated coverage on enGene in a research note on Tuesday, February 20th. They issued an “outperform” rating and a $31.00 price objective for the company.

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.