Evogene (NASDAQ:EVGN) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com assumed coverage on shares of Evogene (NASDAQ:EVGN) in a research report issued to clients and investors on Thursday. The firm set a “sell” rating on the biotechnology company’s stock.

Evogene Price Performance

Shares of EVGN stock opened at $0.71 on Thursday. The stock’s 50-day moving average is $0.78 and its two-hundred day moving average is $0.74. Evogene has a 1 year low of $0.45 and a 1 year high of $1.44.

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

Hedge Funds Weigh In On Evogene

A hedge fund recently raised its stake in Evogene stock. Silverarc Capital Management LLC raised its stake in Evogene Ltd. (NASDAQ:EVGN) by 3,000.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,100,000 shares of the biotechnology company’s stock after purchasing an additional 3,000,000 shares during the quarter. Silverarc Capital Management LLC owned 7.52% of Evogene worth $1,818,000 at the end of the most recent reporting period. 10.40% of the stock is currently owned by institutional investors and hedge funds.

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.