Evolus (NASDAQ:EOLS) Reaches New 52-Week Low – Here’s Why

Evolus, Inc. (NASDAQ:EOLS) hit a new 52-week low on Wednesday . The stock traded as low as $10.16 and last traded at $10.21, with a volume of 505260 shares changing hands. The stock had previously closed at $10.74.

Analyst Ratings Changes

A number of brokerages have weighed in on EOLS. Barclays raised their target price on Evolus from $16.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 target price on shares of Evolus in a research report on Friday, September 13th. HC Wainwright reissued a “buy” rating and issued a $27.00 target price on shares of Evolus in a report on Thursday, November 7th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Evolus in a report on Monday, September 16th.

Evolus Stock Performance

The stock has a market capitalization of $633.20 million, a price-to-earnings ratio of -10.99 and a beta of 1.27. The company has a 50 day simple moving average of $12.38 and a 200-day simple moving average of $13.72. The company has a quick ratio of 2.23, a current ratio of 2.47 and a debt-to-equity ratio of 20.58.

Hedge Funds Weigh In On Evolus

A number of institutional investors have recently modified their holdings of EOLS. Quest Partners LLC bought a new stake in Evolus during the second quarter worth $43,000. Quarry LP purchased a new position in Evolus during the 2nd quarter worth $54,000. Profund Advisors LLC bought a new stake in shares of Evolus in the 2nd quarter worth $130,000. Point72 Asset Management L.P. purchased a new stake in shares of Evolus in the third quarter valued at about $132,000. Finally, Arizona State Retirement System lifted its position in shares of Evolus by 9.4% during the second quarter. Arizona State Retirement System now owns 14,603 shares of the company’s stock valued at $158,000 after purchasing an additional 1,253 shares in the last quarter. 90.69% of the stock is owned by institutional investors and hedge funds.

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.