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

StockNews.com initiated coverage on shares of Evogene (NASDAQ:EVGN) in a research note released on Wednesday morning. The firm issued a sell rating on the biotechnology company’s stock.

Evogene Trading Down 5.1 %

EVGN opened at $0.63 on Wednesday. The company has a market capitalization of $25.77 million, a PE ratio of -1.18 and a beta of 1.49. Evogene has a 1-year low of $0.45 and a 1-year high of $1.44. The firm’s 50 day simple moving average is $0.79 and its two-hundred day simple moving average is $0.74.

Evogene (NASDAQ:EVGN) last announced its quarterly earnings data on Thursday, March 7th. The biotechnology company reported ($0.13) EPS for the quarter, beating the consensus estimate 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 net margin of 423.39% and a negative return on equity of 76.93%. During the same period last year, the firm earned ($0.07) EPS.

Hedge Funds Weigh In On Evogene

A hedge fund recently raised its stake in Evogene stock. Silverarc Capital Management LLC boosted its stake in shares of Evogene Ltd. (NASDAQ:EVGN) by 3,000.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,100,000 shares of the biotechnology company’s stock after acquiring an additional 3,000,000 shares during the period. Silverarc Capital Management LLC owned 7.52% of Evogene worth $1,818,000 at the end of the most recent quarter. Institutional investors own 10.40% of the company’s stock.

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.