In a recent move, Fonds de Solidarite des Travailleurs du Quebec has sold a significant portion of its holdings in enGene Holdings Inc. (NASDAQ:ENGN), a company specializing in biological products. The transactions, which occurred over a span of several days, involved the sale of enGene Holdings shares for a total value of approximately $787,980.
The sales took place between April 18 and April 22, with share prices ranging from $15.00 to $15.01. On April 18, a total of 4,575 shares were sold at $15.01 each. The following day, an additional 100 shares were sold at a price of $15.00 per share. The largest transaction occurred on April 22, with 47,854 shares sold, also at $15.00 per share.
Following these transactions, Fonds de Solidarite des Travailleurs du Quebec's remaining ownership in enGene Holdings stands at 3,036,153 shares. The sales have been publicly reported in line with regulatory requirements, providing transparency for investors and the market.
enGene Holdings Inc., known for its work in the life sciences sector, is tracked under the ticker symbol NASDAQ:ENGN. Investors often monitor such sales by significant shareholders as indicators of confidence and potential strategic shifts within the company.
The details of these transactions were disclosed in a Form 4 filing with the Securities and Exchange Commission, dated April 22. The filing was signed by Liette Leduc, Senior Director - Legal Affairs - Private Equity and Impact Investing on behalf of Fonds de Solidarite des Travailleurs du Quebec.
InvestingPro Insights
In light of recent transactions by Fonds de Solidarite des Travailleurs du Quebec in enGene Holdings Inc. (NASDAQ:ENGN), InvestingPro data provides additional context that may be of interest to investors considering the company's financial health and market performance.
enGene Holdings Inc. currently has a market capitalization of approximately $654.87 million. However, the company's financials show signs of struggle, with a negative P/E ratio of -0.994, reflecting investor concerns about profitability. The adjusted P/E ratio for the last twelve months as of Q1 2024 stands at an even lower -12.02, potentially indicating ongoing challenges in turning a profit.
The company's operating income and EBITDA for the same period are both in the negative, at -32.2M USD and -31.99M USD respectively. These figures highlight operational difficulties that enGene may be facing.
On the brighter side, enGene's share price has seen significant volatility but also notable gains over different time frames. The six-month price total return as of a recent 2024 date shows an increase of 48.49%, and the year-to-date return is an impressive 60.88%. These figures might suggest a level of market confidence in the company's long-term prospects, despite recent sell-offs.
InvestingPro Tips reveal that enGene's current price is at 31.48% of its 52-week high, which could indicate a potential discount for investors if the company's prospects are believed to be better than the current price suggests. Additionally, the fair value estimates from analysts stand at 34 USD, contrasting with InvestingPro's own fair value assessment of 10.58 USD, which could imply that the stock is overvalued according to some models.
For investors seeking more detailed analysis and additional insights, InvestingPro provides a broader range of tips. There are currently more tips available on InvestingPro that could help investors make a more informed decision on enGene Holdings Inc. To access these tips and take advantage of the complete InvestingPro toolkit, use the coupon code PRONEWS24 to get an extra 10% off on a yearly or biyearly Pro and Pro+ subscription.
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