Evogene (NASDAQ:EVGN) Now Covered by StockNews.com

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

Evogene Stock Down 6.5 %

EVGN stock opened at $0.64 on Tuesday. Evogene has a twelve month low of $0.45 and a twelve month high of $1.44. The firm has a market capitalization of $26.41 million, a PE ratio of -1.21 and a beta of 1.49. The stock has a 50-day simple moving average of $0.80 and a two-hundred day simple moving average of $0.73.

Evogene (NASDAQ:EVGN) last posted its earnings results on Thursday, March 7th. The biotechnology company reported ($0.13) earnings per share (EPS) 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 business had revenue of $0.58 million for the quarter, compared to analysts’ expectations of $1.73 million. During the same period in the prior year, the company posted ($0.07) EPS.

Institutional Investors Weigh In On Evogene

Several hedge funds have recently bought and sold shares of the stock. Silverarc Capital Management LLC increased its holdings in shares of Evogene by 3,000.0% in the 3rd quarter. Silverarc Capital Management LLC now owns 3,100,000 shares of the biotechnology company’s stock worth $1,818,000 after buying an additional 3,000,000 shares during the last quarter. Walleye Capital LLC purchased a new position in Evogene in the third quarter worth $303,000. Renaissance Technologies LLC increased its stake in Evogene by 51.8% in the first quarter. Renaissance Technologies LLC now owns 459,081 shares of the biotechnology company’s stock valued at $597,000 after acquiring an additional 156,716 shares during the last quarter. Bank of America Corp DE increased its stake in Evogene by 49.7% in the first quarter. Bank of America Corp DE now owns 204,521 shares of the biotechnology company’s stock valued at $265,000 after acquiring an additional 67,867 shares during the last quarter. Finally, Vident Investment Advisory LLC raised its position in Evogene by 68.5% during the first quarter. Vident Investment Advisory LLC now owns 83,868 shares of the biotechnology company’s stock valued at $109,000 after purchasing an additional 34,082 shares in the last quarter. 10.40% of the stock is currently owned by institutional investors.

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.