Evogene (NASDAQ:EVGN) Shares Cross Below 200-Day Moving Average – Here’s Why

Evogene Ltd. (NASDAQ:EVGN) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $0.90 and traded as low as $0.5524. Evogene shares last traded at $0.5839, with a volume of 126,770 shares changing hands.

Evogene Stock Down 1.2%

The business has a 50-day moving average price of $0.74 and a two-hundred day moving average price of $0.90. The company has a market capitalization of $5.09 million, a price-to-earnings ratio of -0.42 and a beta of 1.35.

Evogene (NASDAQ:EVGN) last posted its quarterly earnings results on Saturday, May 16th. The biotechnology company reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.33). The business had revenue of $0.33 million during the quarter, compared to analyst estimates of $0.35 million. Evogene had a negative net margin of 638.12% and a negative return on equity of 158.82%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in EVGN. XTX Topco Ltd acquired a new stake in shares of Evogene in the 4th quarter worth about $25,000. Citadel Advisors LLC boosted its stake in Evogene by 169.4% during the 3rd quarter. Citadel Advisors LLC now owns 57,575 shares of the biotechnology company’s stock valued at $66,000 after purchasing an additional 36,206 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in Evogene by 58.0% during the 1st quarter. Jane Street Group LLC now owns 33,732 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 12,387 shares during the last quarter. 10.40% of the stock is currently owned by institutional investors and hedge funds.

Evogene Company Profile

Evogene Ltd. is a biotechnology company specializing in the use of computational and predictive biology technologies to design and develop novel products for agriculture and human health. Founded in 2002 and headquartered in Rehovot, Israel, the company has built a proprietary computational platform that integrates genomics, machine learning and data analytics to identify gene targets and biological traits. Evogene’s platform serves as the backbone for its research and development efforts, enabling the discovery of enhanced crop traits, microbial solutions and microbiome-based diagnostics and therapeutics.

In the agricultural sector, Evogene applies its platform to improve crop performance across a range of parameters, including yield enhancement, stress tolerance and resistance to pests and pathogens.