Evofem Biosciences, Inc. (NASDAQ:EVFM) Short Interest Up 30.8% in April


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Evofem Biosciences, Inc. (NASDAQ:EVFM) was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 12,070,000 shares, an increase of 30.8% from the March 31st total of 9,230,000 shares. Based on an average trading volume of 0 shares, the days-to-cover ratio is currently ? days.

Shares of NASDAQ EVFM traded down $0.09 during trading hours on Tuesday, hitting $1.35. The company had a trading volume of 4,027,951 shares, compared to its average volume of 4,439,384. The stock has a market capitalization of $112.22 million, a P/E ratio of -0.74 and a beta of 0.07. Evofem Biosciences has a 1-year low of $1.33 and a 1-year high of $6.87. The firm’s 50 day moving average is $1.90 and its 200-day moving average is $2.53.

Evofem Biosciences (NASDAQ:EVFM) last released its quarterly earnings data on Wednesday, March 3rd. The biotechnology company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.14). The firm had revenue of $0.17 million during the quarter, compared to the consensus estimate of $1.70 million. Equities research analysts expect that Evofem Biosciences will post -1.52 EPS for the current year.

A number of institutional investors have recently made changes to their positions in EVFM. Charles Schwab Investment Management Inc. lifted its holdings in Evofem Biosciences by 91.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 202,967 shares of the biotechnology company’s stock valued at $480,000 after purchasing an additional 96,709 shares during the last quarter. Game Plan Financial Advisors LLC acquired a new stake in Evofem Biosciences during the 4th quarter valued at $51,000. XTX Markets LLC acquired a new stake in Evofem Biosciences during the 4th quarter valued at $137,000. Creative Planning acquired a new stake in Evofem Biosciences during the 4th quarter valued at $66,000. Finally, GSA Capital Partners LLP increased its position in Evofem Biosciences by 283.0% during the 4th quarter. GSA Capital Partners LLP now owns 255,303 shares of the biotechnology company’s stock worth $615,000 after buying an additional 188,637 shares during the period. 44.84% of the stock is owned by institutional investors and hedge funds.

Separately, HC Wainwright reduced their price target on Evofem Biosciences from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Monday, March 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $9.07.

Evofem Biosciences Company Profile

Evofem Biosciences, Inc, a biopharmaceutical company, develops and commercializes various products to address unmet needs in women's sexual and reproductive health. Its commercial product is Phexxi, a vaginal gel for the prevention of pregnancy. The company is also involved in the development of EVO100, an antimicrobial vaginal gel for the prevention of urogenital transmission of Chlamydia trachomatis infection and Neisseria gonorrhoeae infection in women.

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