UBS Group Initiates Coverage on enGene (NASDAQ:ENGN)

Stock analysts at UBS Group assumed coverage on shares of enGene (NASDAQ:ENGN) in a report released on Thursday, Briefing.com reports. The firm set a “buy” rating and a $37.00 price target on the stock. UBS Group’s price target suggests a potential upside of 114.62% from the stock’s current price.

Several other brokerages also recently commented on ENGN. SVB Leerink assumed coverage on enGene in a report on Tuesday, February 20th. They set an “outperform” rating and a $31.00 target price on the stock. Leerink Partnrs reaffirmed an “outperform” rating on shares of enGene in a report on Tuesday, February 20th. Finally, Morgan Stanley began coverage on enGene in a research report on Friday, March 8th. They issued an “overweight” rating and a $40.00 price objective for the company.

enGene Stock Performance

Shares of ENGN opened at $17.24 on Thursday. enGene has a 12 month low of $6.69 and a 12 month high of $43.00. The stock’s 50-day moving average is $12.96.

Institutional Trading of enGene

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ENGN. Vivo Capital LLC bought a new stake in enGene in the 4th quarter valued at about $6,264,000. Goldman Sachs Group Inc. bought a new stake in enGene in the 4th quarter valued at about $346,000. Royal Bank of Canada bought a new stake in enGene during the 4th quarter worth approximately $349,000. Citadel Advisors LLC bought a new stake in enGene during the 4th quarter worth approximately $185,000. Finally, BVF Inc. IL bought a new stake in enGene during the 4th quarter worth approximately $20,777,000. 64.16% of the stock is 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.