Evolus (NASDAQ:EOLS) Shares Gap Down – What’s Next?

Evolus, Inc. (NASDAQ:EOLS) shares gapped down prior to trading on Monday . The stock had previously closed at $13.69, but opened at $13.40. Evolus shares last traded at $13.46, with a volume of 48,769 shares traded.

Analyst Ratings Changes

Several research firms have recently issued reports on EOLS. Needham & Company LLC reissued a “buy” rating and issued a $22.00 price target on shares of Evolus in a research report on Friday, September 13th. HC Wainwright restated a “buy” rating and set a $27.00 target price on shares of Evolus in a research report on Thursday, November 7th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Evolus in a report on Monday, September 16th. Finally, Barclays boosted their price objective on Evolus from $16.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, September 13th.

Evolus Stock Down 1.7 %

The company’s 50 day simple moving average is $15.26 and its 200-day simple moving average is $13.88. The company has a debt-to-equity ratio of 20.58, a quick ratio of 2.23 and a current ratio of 2.47. The firm has a market capitalization of $852.29 million, a PE ratio of -15.04 and a beta of 1.31.

Insider Activity at Evolus

In related news, CFO Sandra Beaver sold 3,276 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $14.98, for a total transaction of $49,074.48. Following the transaction, the chief financial officer now directly owns 148,502 shares of the company’s stock, valued at approximately $2,224,559.96. This trade represents a 2.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 6.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Evolus

Hedge funds have recently made changes to their positions in the business. Assenagon Asset Management S.A. raised its position in Evolus by 5,627.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 947,103 shares of the company’s stock worth $10,276,000 after purchasing an additional 930,566 shares during the period. Bank of New York Mellon Corp boosted its holdings in Evolus by 24.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 181,093 shares of the company’s stock valued at $1,965,000 after acquiring an additional 35,760 shares during the period. Armistice Capital LLC bought a new position in Evolus during the 2nd quarter worth approximately $3,906,000. California State Teachers Retirement System increased its stake in Evolus by 1.6% in the 1st quarter. California State Teachers Retirement System now owns 48,109 shares of the company’s stock worth $674,000 after purchasing an additional 739 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in Evolus by 4.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 39,882 shares of the company’s stock valued at $559,000 after purchasing an additional 1,637 shares during the last quarter. 90.69% of the stock is currently owned by institutional investors.

About Evolus

Evolus, Inc, a performance beauty company, focuses on delivering products in the cash-pay aesthetic market in the United States, Canada, and Europe. The company offers Jeuveau, a proprietary 900 kilodalton purified botulinum toxin type A formulation for the temporary improvement in the appearance of moderate to severe glabellar lines in adults.