Evogene (NASDAQ:EVGN) Share Price Passes Below Two Hundred Day Moving Average – Here’s Why

Evogene Ltd. (NASDAQ:EVGN) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.16 and traded as low as $0.9114. Evogene shares last traded at $0.96, with a volume of 87,509 shares trading hands.

Evogene Stock Up 1.6%

The company has a market cap of $5.15 million, a P/E ratio of -1.92 and a beta of 1.35. The company has a fifty day moving average of $1.05 and a 200 day moving average of $1.16.

Evogene (NASDAQ:EVGN) last announced its earnings results on Thursday, November 20th. The biotechnology company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.10. The business had revenue of $0.31 million for the quarter, compared to analysts’ expectations of $0.65 million. Evogene had a negative return on equity of 75.09% and a negative net margin of 52.33%.

Institutional Trading of Evogene

An institutional investor recently raised its position in Evogene stock. Citadel Advisors LLC raised its holdings in shares of Evogene Ltd. (NASDAQ:EVGN) by 169.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,575 shares of the biotechnology company’s stock after acquiring an additional 36,206 shares during the quarter. Citadel Advisors LLC owned approximately 1.07% of Evogene worth $66,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 10.40% of the stock is 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.