Evogene (NASDAQ:EVGN) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of Evogene (NASDAQ:EVGN) in a report issued on Wednesday. The firm set a “sell” rating on the biotechnology company’s stock.

Evogene Trading Up 1.5 %

Shares of EVGN opened at $0.66 on Wednesday. The business’s fifty day simple moving average is $0.80 and its two-hundred day simple moving average is $0.74. Evogene has a 12 month low of $0.45 and a 12 month high of $1.44. The company has a market cap of $27.19 million, a price-to-earnings ratio of -1.24 and a beta of 1.49.

Evogene (NASDAQ:EVGN) last issued its earnings results on Thursday, March 7th. The biotechnology company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.01. The business had revenue of $0.58 million for the quarter, compared to the consensus estimate of $1.73 million. Evogene had a negative return on equity of 76.93% and a negative net margin of 423.39%. During the same period last year, the business posted ($0.07) EPS.

Hedge Funds Weigh In On Evogene

A hedge fund recently raised its stake in Evogene stock. Silverarc Capital Management LLC grew its position in shares of Evogene Ltd. (NASDAQ:EVGN) by 3,000.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,100,000 shares of the biotechnology company’s stock after buying an additional 3,000,000 shares during the quarter. Silverarc Capital Management LLC owned 7.52% of Evogene worth $1,818,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 10.40% of the company’s stock.

About Evogene

Evogene Ltd., together with its subsidiaries, operates as a computational biology company. It focuses on product discovery and development in life-science based industries, including human health and agriculture, through the use of its Computational Predictive Biology (CPB) platform. The company operates through three segments: Agriculture, Human Health, and Industrial Applications.