enGene (NASDAQ:ENGN) Shares Up 5.9%

enGene Holdings Inc. (NASDAQ:ENGN)’s stock price shot up 5.9% during mid-day trading on Friday . The company traded as high as $15.00 and last traded at $15.00. 5,384 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 43,121 shares. The stock had previously closed at $14.17.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ENGN. Morgan Stanley began coverage on enGene in a research note on Friday, March 8th. They set an “overweight” rating and a $40.00 target price for the company. UBS Group began coverage on shares of enGene in a research note on Thursday, March 28th. They issued a “buy” rating and a $37.00 price objective for the company. Leerink Partnrs reissued an “outperform” rating on shares of enGene in a research note on Tuesday, February 20th. SVB Leerink assumed coverage on shares of enGene in a research note on Tuesday, February 20th. They issued an “outperform” rating and a $31.00 price target for the company. Finally, Guggenheim began coverage on shares of enGene in a report on Monday. They set a “buy” rating and a $34.00 price objective on the stock. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $35.50.

enGene Price Performance

The stock has a fifty day simple moving average of $15.83.

Institutional Investors Weigh In On enGene

A number of hedge funds have recently made changes to their positions in the business. Citadel Advisors LLC purchased a new stake in enGene during the fourth quarter worth about $185,000. Goldman Sachs Group Inc. purchased a new stake in shares of enGene during the 4th quarter worth approximately $346,000. Royal Bank of Canada purchased a new stake in shares of enGene during the 4th quarter worth approximately $349,000. Vivo Capital LLC bought a new stake in shares of enGene in the 4th quarter worth approximately $6,264,000. Finally, Omega Fund Management LLC purchased a new position in enGene in the fourth quarter valued at approximately $10,441,000. 64.16% of the stock is currently owned by institutional investors.

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.