King Luther Capital Management Corp purchased a new stake in Evofem Biosciences Inc (NASDAQ:EVFM) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 15,000 shares of the biotechnology company’s stock, valued at approximately $100,000.
Several other large investors also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp purchased a new position in Evofem Biosciences during the 2nd quarter worth approximately $215,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of Evofem Biosciences in the second quarter worth $296,000. Heartland Advisors Inc. grew its holdings in shares of Evofem Biosciences by 3.0% during the second quarter. Heartland Advisors Inc. now owns 850,000 shares of the biotechnology company’s stock valued at $5,644,000 after buying an additional 25,000 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in shares of Evofem Biosciences during the second quarter valued at $163,000. Finally, Strs Ohio purchased a new position in shares of Evofem Biosciences during the second quarter valued at $25,000. Institutional investors and hedge funds own 62.54% of the company’s stock.
Several brokerages recently issued reports on EVFM. ValuEngine downgraded Evofem Biosciences from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research cut Evofem Biosciences from a “buy” rating to a “hold” rating in a research note on Friday, September 6th. Finally, HC Wainwright set a $9.00 target price on Evofem Biosciences and gave the company a “buy” rating in a report on Tuesday, May 28th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $8.75.
About Evofem Biosciences
Evofem Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes women's sexual and reproductive health products. Its lead product candidate is Amphora, a non-hormonal woman-controlled vaginal gel, which is in Phase 3 clinical trial for the prevention of pregnancy; and in Phase 2b trial for the prevention of chlamydia and gonorrhea in women.
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