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

StockNews.com assumed coverage on shares of Evogene (NASDAQ:EVGN) in a report issued on Saturday. The firm issued a sell rating on the biotechnology company’s stock.

Separately, Lake Street Capital decreased their price target on shares of Evogene from $30.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, August 23rd.

Evogene Stock Down 6.7 %

NASDAQ:EVGN opened at $2.09 on Friday. Evogene has a 12-month low of $2.02 and a 12-month high of $10.40. The firm has a market capitalization of $8.61 million, a price-to-earnings ratio of -0.53 and a beta of 1.43. The stock’s 50 day moving average price is $2.75 and its two-hundred day moving average price is $4.90.

Evogene (NASDAQ:EVGN) last announced its quarterly earnings results on Thursday, August 22nd. The biotechnology company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.94). Evogene had a negative net margin of 210.26% and a negative return on equity of 72.33%. The business had revenue of $0.91 million for the quarter.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Evogene stock. BNP Paribas Financial Markets grew its holdings in Evogene Ltd. (NASDAQ:EVGN) by 30.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 91,400 shares of the biotechnology company’s stock after acquiring an additional 21,500 shares during the quarter. BNP Paribas Financial Markets owned 0.22% of Evogene worth $69,000 as of its most recent SEC filing. 10.40% of the stock is owned by institutional investors and hedge funds.

About Evogene

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.