StockNews.com Initiates Coverage on Evogene (NASDAQ:EVGN)

StockNews.com started coverage on shares of Evogene (NASDAQ:EVGN) in a research note issued to investors on Tuesday. The brokerage set a “sell” rating on the biotechnology company’s stock.

Evogene Stock Performance

Shares of EVGN opened at $0.69 on Tuesday. Evogene has a 52-week low of $0.45 and a 52-week high of $1.44. The stock’s 50-day simple moving average is $0.80 and its 200 day simple moving average is $0.73. The stock has a market capitalization of $28.24 million, a price-to-earnings ratio of -1.29 and a beta of 1.49.

Evogene (NASDAQ:EVGN) last released its quarterly earnings results on Thursday, March 7th. The biotechnology company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.01. Evogene had a negative net margin of 423.39% and a negative return on equity of 76.93%. The firm had revenue of $0.58 million for the quarter, compared to analysts’ expectations of $1.73 million. During the same quarter in the prior year, the firm posted ($0.07) earnings per share.

Institutional Trading of Evogene

A number of institutional investors have recently made changes to their positions in the stock. Silverarc Capital Management LLC increased its position in shares of Evogene by 3,000.0% during the third quarter. Silverarc Capital Management LLC now owns 3,100,000 shares of the biotechnology company’s stock valued at $1,818,000 after buying an additional 3,000,000 shares during the period. Walleye Capital LLC bought a new position in shares of Evogene during the third quarter valued at approximately $303,000. Renaissance Technologies LLC lifted its holdings in shares of Evogene by 51.8% during the first quarter. Renaissance Technologies LLC now owns 459,081 shares of the biotechnology company’s stock valued at $597,000 after purchasing an additional 156,716 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Evogene by 49.7% in the 1st quarter. Bank of America Corp DE now owns 204,521 shares of the biotechnology company’s stock worth $265,000 after purchasing an additional 67,867 shares in the last quarter. Finally, Vident Investment Advisory LLC grew its stake in shares of Evogene by 68.5% in the 1st quarter. Vident Investment Advisory LLC now owns 83,868 shares of the biotechnology company’s stock worth $109,000 after buying an additional 34,082 shares during the last quarter. Hedge funds and other institutional investors own 10.40% of the company’s stock.

Evogene Company Profile

Evogene Ltd., together with its subsidiaries, operates as a computational biology company. It focuses on product discovery and development in life-science based industries, including human health and agriculture, through the use of its Computational Predictive Biology (CPB) platform. The company operates through three segments: Agriculture, Human Health, and Industrial Applications.