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

enGene Holdings Inc. (NASDAQ:ENGN) saw a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 8,200 shares, a drop of 82.8% from the February 29th total of 47,600 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 42,600 shares, the days-to-cover ratio is currently 0.2 days.

enGene Stock Performance

enGene stock traded down $0.76 during midday trading on Wednesday, reaching $17.24. The stock had a trading volume of 53,302 shares, compared to its average volume of 45,212. enGene has a 12 month low of $6.69 and a 12 month high of $43.00. The business has a 50-day moving average of $12.96.

Institutional Investors Weigh In On enGene

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC bought a new stake in enGene in the 4th quarter valued at about $185,000. Goldman Sachs Group Inc. bought a new stake in enGene in the 4th quarter valued at about $346,000. Royal Bank of Canada purchased a new position in enGene during the 4th quarter valued at about $349,000. Vivo Capital LLC purchased a new position in enGene during the 4th quarter valued at about $6,264,000. Finally, Omega Fund Management LLC purchased a new position in enGene during the 4th quarter valued at about $10,441,000. 64.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ENGN has been the subject of several recent analyst reports. Leerink Partnrs reaffirmed an “outperform” rating on shares of enGene in a research report on Tuesday, February 20th. SVB Leerink initiated coverage on shares of enGene in a research report on Tuesday, February 20th. They issued an “outperform” rating and a $31.00 price target for the company. Finally, Morgan Stanley initiated coverage on shares of enGene in a report on Friday, March 8th. They set an “overweight” rating and a $40.00 price objective on the 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.