Vestal Point Capital LP Makes New Investment in enGene Holdings Inc. (NASDAQ:ENGN)

Vestal Point Capital LP purchased a new position in shares of enGene Holdings Inc. (NASDAQ:ENGN) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 370,000 shares of the company’s stock, valued at approximately $2,460,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vontobel Holding Ltd. bought a new stake in enGene during the fourth quarter worth about $69,000. Orbimed Advisors LLC bought a new stake in shares of enGene in the 4th quarter valued at about $6,120,000. Fcpm Iii Services B.V. lifted its stake in shares of enGene by 11.0% in the 4th quarter. Fcpm Iii Services B.V. now owns 9,632,561 shares of the company’s stock valued at $64,057,000 after acquiring an additional 954,610 shares during the last quarter. Corton Capital Inc. bought a new stake in shares of enGene in the 4th quarter valued at about $157,000. Finally, Deep Track Capital LP lifted its stake in shares of enGene by 74.8% in the 4th quarter. Deep Track Capital LP now owns 4,557,575 shares of the company’s stock valued at $30,308,000 after acquiring an additional 1,949,942 shares during the last quarter. Institutional investors own 64.16% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. UBS Group lowered enGene from a “buy” rating to a “neutral” rating and lowered their target price for the company from $34.00 to $7.00 in a research note on Friday, February 14th. JMP Securities reissued a “market outperform” rating and issued a $18.00 target price on shares of enGene in a research note on Tuesday, April 29th. HC Wainwright reissued a “buy” rating and issued a $25.00 target price on shares of enGene in a research note on Tuesday, March 11th. Piper Sandler initiated coverage on enGene in a research report on Tuesday, February 18th. They set an “overweight” rating and a $26.00 price target for the company. Finally, Morgan Stanley lowered their price target on enGene from $37.00 to $34.00 and set an “overweight” rating for the company in a research report on Tuesday, March 11th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, enGene presently has a consensus rating of “Buy” and an average target price of $23.29.

enGene Trading Up 1.5%

ENGN opened at $3.45 on Monday. The business has a 50 day simple moving average of $4.18 and a two-hundred day simple moving average of $6.06. The firm has a market capitalization of $175.87 million, a price-to-earnings ratio of -5.95 and a beta of -0.36. The company has a debt-to-equity ratio of 0.08, a current ratio of 16.87 and a quick ratio of 16.87. enGene Holdings Inc. has a one year low of $2.65 and a one year high of $13.28.

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.