Evolus (NASDAQ:EOLS) Trading Down 2.4% – What’s Next?

Evolus, Inc. (NASDAQ:EOLS) dropped 2.4% during trading on Monday . The stock traded as low as $12.80 and last traded at $12.72. Approximately 41,269 shares traded hands during trading, a decline of 93% from the average daily volume of 590,097 shares. The stock had previously closed at $13.03.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Evolus in a report on Wednesday, March 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 price target on shares of Evolus in a report on Wednesday, March 5th. Finally, Barclays lifted their price objective on Evolus from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th.

Evolus Stock Performance

The company has a current ratio of 2.47, a quick ratio of 2.23 and a debt-to-equity ratio of 20.58. The firm’s fifty day moving average price is $13.42 and its two-hundred day moving average price is $13.87. The stock has a market capitalization of $809.46 million, a PE ratio of -13.99 and a beta of 1.28.

Insiders Place Their Bets

In other news, insider Rui Avelar sold 27,904 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $13.26, for a total transaction of $370,007.04. Following the completion of the sale, the insider now owns 362,467 shares of the company’s stock, valued at $4,806,312.42. The trade was a 7.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Sandra Beaver sold 8,996 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $13.26, for a total transaction of $119,286.96. Following the completion of the transaction, the chief financial officer now directly owns 173,583 shares in the company, valued at $2,301,710.58. This represents a 4.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,324 shares of company stock worth $716,856. Company insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Evolus

Several large investors have recently bought and sold shares of the company. Tang Capital Management LLC boosted its stake in shares of Evolus by 3.1% in the fourth quarter. Tang Capital Management LLC now owns 4,997,399 shares of the company’s stock worth $55,171,000 after acquiring an additional 150,000 shares during the last quarter. Nantahala Capital Management LLC boosted its stake in Evolus by 10.8% during the 4th quarter. Nantahala Capital Management LLC now owns 3,130,149 shares of the company’s stock worth $34,557,000 after purchasing an additional 305,300 shares during the last quarter. Caligan Partners LP grew its holdings in shares of Evolus by 22.7% during the fourth quarter. Caligan Partners LP now owns 2,692,388 shares of the company’s stock worth $29,724,000 after buying an additional 498,900 shares in the last quarter. Millennium Management LLC raised its position in shares of Evolus by 29.1% in the fourth quarter. Millennium Management LLC now owns 1,368,423 shares of the company’s stock valued at $15,107,000 after buying an additional 308,753 shares during the last quarter. Finally, Boothbay Fund Management LLC raised its position in shares of Evolus by 30.9% in the fourth quarter. Boothbay Fund Management LLC now owns 1,287,767 shares of the company’s stock valued at $14,217,000 after buying an additional 304,065 shares during the last quarter. 90.69% of the stock is currently owned by hedge funds and other institutional investors.

About Evolus

Evolus, Inc, a performance beauty company, focuses on delivering products in the cash-pay aesthetic market in the United States, Canada, and Europe. The company offers Jeuveau, a proprietary 900 kilodalton purified botulinum toxin type A formulation for the temporary improvement in the appearance of moderate to severe glabellar lines in adults.