Evofem Biosciences Inc (NASDAQ:EVFM) Short Interest Up 10.0% in November

Evofem Biosciences Inc (NASDAQ:EVFM) was the target of a significant growth in short interest during the month of November. As of November 29th, there was short interest totalling 787,600 shares, a growth of 10.0% from the November 14th total of 716,300 shares. Based on an average trading volume of 65,300 shares, the short-interest ratio is currently 12.1 days. Currently, 2.5% of the company’s stock are sold short.

NASDAQ EVFM traded down $0.08 during trading hours on Friday, reaching $6.13. The stock had a trading volume of 49,605 shares, compared to its average volume of 167,427. The stock has a fifty day moving average of $5.73 and a 200 day moving average of $5.48. The stock has a market cap of $290.70 million, a P/E ratio of -1.07 and a beta of 0.65. Evofem Biosciences has a 52-week low of $3.16 and a 52-week high of $7.50.

Evofem Biosciences (NASDAQ:EVFM) last issued its earnings results on Wednesday, November 6th. The biotechnology company reported ($0.30) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.01. On average, equities analysts forecast that Evofem Biosciences will post -1.56 earnings per share for the current fiscal year.

A number of equities research analysts recently commented on EVFM shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $9.00 target price on shares of Evofem Biosciences in a research report on Wednesday, October 16th. HC Wainwright reiterated a “buy” rating and issued a $11.00 target price (up previously from $9.00) on shares of Evofem Biosciences in a research report on Wednesday. ValuEngine lowered Evofem Biosciences from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, Zacks Investment Research upgraded Evofem Biosciences from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $9.25.

In related news, CFO Justin J. File sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $7.16, for a total value of $71,600.00. Following the sale, the chief financial officer now owns 182,251 shares in the company, valued at $1,304,917.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Saundra L. Pelletier sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $7.30, for a total value of $146,000.00. Following the completion of the sale, the chief executive officer now owns 372,289 shares in the company, valued at approximately $2,717,709.70. The disclosure for this sale can be found here. Insiders have sold 41,100 shares of company stock worth $285,650 in the last 90 days. Insiders own 13.40% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Evofem Biosciences by 116.7% in the 2nd quarter. Vanguard Group Inc. now owns 658,091 shares of the biotechnology company’s stock worth $4,370,000 after purchasing an additional 354,408 shares in the last quarter. BlackRock Inc. boosted its position in Evofem Biosciences by 5,199.0% in the 2nd quarter. BlackRock Inc. now owns 738,420 shares of the biotechnology company’s stock worth $4,903,000 after purchasing an additional 724,485 shares in the last quarter. Northern Trust Corp boosted its position in Evofem Biosciences by 112.4% in the 2nd quarter. Northern Trust Corp now owns 72,709 shares of the biotechnology company’s stock worth $483,000 after purchasing an additional 38,472 shares in the last quarter. Heartland Advisors Inc. boosted its position in Evofem Biosciences by 3.0% in the 2nd quarter. Heartland Advisors Inc. now owns 850,000 shares of the biotechnology company’s stock worth $5,644,000 after purchasing an additional 25,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. purchased a new stake in Evofem Biosciences in the 2nd quarter worth approximately $296,000. Institutional investors and hedge funds own 62.47% of the company’s stock.

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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