Evelo Biosciences (NASDAQ:EVLO) Shares Gap Down to $11.56

Evelo Biosciences, Inc. (NASDAQ:EVLO) gapped down prior to trading on Monday . The stock had previously closed at $11.56, but opened at $11.22. Evelo Biosciences shares last traded at $11.79, with a volume of 284 shares changing hands.

EVLO has been the subject of a number of research analyst reports. JMP Securities lifted their price objective on shares of Evelo Biosciences from $27.00 to $36.00 and gave the stock an “outperform” rating in a research report on Monday, January 25th. Zacks Investment Research raised shares of Evelo Biosciences from a “sell” rating to a “hold” rating in a research report on Wednesday, March 24th. Morgan Stanley boosted their target price on shares of Evelo Biosciences from $6.00 to $14.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 19th. Jefferies Financial Group raised shares of Evelo Biosciences from a “hold” rating to a “buy” rating and boosted their target price for the company from $11.00 to $18.00 in a research report on Monday. Finally, Chardan Capital boosted their target price on shares of Evelo Biosciences from $10.00 to $15.00 and gave the company a “neutral” rating in a research report on Friday, March 12th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Evelo Biosciences has a consensus rating of “Buy” and an average target price of $17.67.

The company has a quick ratio of 6.24, a current ratio of 6.24 and a debt-to-equity ratio of 0.59. The firm has a market cap of $578.15 million, a price-to-earnings ratio of -4.35 and a beta of 1.46. The stock has a 50 day moving average of $11.38 and a 200 day moving average of $10.12.

Evelo Biosciences (NASDAQ:EVLO) last issued its earnings results on Monday, March 8th. The company reported ($0.62) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.48) by ($0.14). As a group, analysts predict that Evelo Biosciences, Inc. will post -2.23 EPS for the current fiscal year.

In other Evelo Biosciences news, major shareholder Ventures Fund Iv Gene Flagship bought 130,000 shares of the stock in a transaction on Tuesday, February 2nd. The stock was purchased at an average price of $15.00 per share, with a total value of $1,950,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 7.30% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in Evelo Biosciences by 0.6% in the first quarter. FMR LLC now owns 3,325,107 shares of the company’s stock valued at $26,601,000 after acquiring an additional 19,100 shares during the last quarter. BlackRock Inc. boosted its holdings in Evelo Biosciences by 14.3% in the third quarter. BlackRock Inc. now owns 938,625 shares of the company’s stock valued at $4,946,000 after acquiring an additional 117,614 shares during the last quarter. State Street Corp boosted its holdings in Evelo Biosciences by 13.5% in the third quarter. State Street Corp now owns 261,794 shares of the company’s stock valued at $1,380,000 after acquiring an additional 31,187 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Evelo Biosciences by 57.9% in the third quarter. JPMorgan Chase & Co. now owns 7,469 shares of the company’s stock valued at $36,000 after acquiring an additional 2,740 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Evelo Biosciences by 96.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 144,274 shares of the company’s stock valued at $761,000 after acquiring an additional 70,884 shares during the last quarter. Institutional investors own 84.57% of the company’s stock.

Evelo Biosciences Company Profile (NASDAQ:EVLO)

Evelo Biosciences, Inc, a biotechnology company, discovers and develops oral biologics for the treatment of inflammatory diseases and cancer. It is developing EDP1815, a whole-microbe candidate for the treatment of inflammatory diseases; and is in clinical development trial for the treatment of psoriasis and atopic dermatitis, as well as for the hyperinflammatory response associated with COVID-19.

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