Evelo Biosciences Inc (NASDAQ:EVLO) Short Interest Update

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Evelo Biosciences Inc (NASDAQ:EVLO) saw a large increase in short interest in June. As of June 30th, there was short interest totalling 1,591,500 shares, an increase of 6.3% from the May 30th total of 1,496,500 shares. Based on an average trading volume of 36,500 shares, the days-to-cover ratio is currently 43.6 days. Currently, 15.3% of the company’s stock are short sold.

Several hedge funds and other institutional investors have recently made changes to their positions in EVLO. BlackRock Inc. grew its stake in shares of Evelo Biosciences by 157.5% in the 4th quarter. BlackRock Inc. now owns 670,944 shares of the company’s stock valued at $8,729,000 after buying an additional 410,407 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Evelo Biosciences by 147.4% in the 4th quarter. Bank of New York Mellon Corp now owns 36,883 shares of the company’s stock valued at $480,000 after buying an additional 21,974 shares in the last quarter. Citigroup Inc. grew its stake in shares of Evelo Biosciences by 164.8% in the 4th quarter. Citigroup Inc. now owns 3,900 shares of the company’s stock valued at $51,000 after buying an additional 2,427 shares in the last quarter. Northern Trust Corp grew its stake in shares of Evelo Biosciences by 119.7% in the 4th quarter. Northern Trust Corp now owns 128,155 shares of the company’s stock valued at $1,667,000 after buying an additional 69,825 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Evelo Biosciences by 74.8% in the 4th quarter. Geode Capital Management LLC now owns 90,197 shares of the company’s stock valued at $1,173,000 after buying an additional 38,596 shares in the last quarter. 85.90% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have weighed in on the company. Jefferies Financial Group lowered their target price on CommVault Systems to $65.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. They noted that the move was a valuation call. Zacks Investment Research cut G1 Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. Chardan Capital reaffirmed a “buy” rating and set a $15.00 target price on shares of Seres Therapeutics in a research note on Thursday, May 2nd. Finally, Cowen reaffirmed a “hold” rating on shares of PTC Therapeutics in a research note on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $20.75.

Shares of NASDAQ EVLO opened at $7.65 on Wednesday. The firm has a 50 day moving average price of $7.87. Evelo Biosciences has a 52 week low of $6.32 and a 52 week high of $15.89. The company has a debt-to-equity ratio of 0.09, a current ratio of 11.88 and a quick ratio of 11.88.

Evelo Biosciences (NASDAQ:EVLO) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.64) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.55) by ($0.09). As a group, equities analysts forecast that Evelo Biosciences will post -2.42 earnings per share for the current year.

Evelo Biosciences Company Profile

Evelo Biosciences, Inc, a biotechnology company, focuses on the development of monocolonal microbials for the treatment of inflammatory diseases and cancer. It is involved in developing EDP1066 and EDP1815, which are in Phase 1b placebo-controlled dose-escalating safety and tolerability clinical study for the treatment of atopic dermatitis, asthma, psoriatic arthritis, rheumatoid arthritis, and inflammatory bowel diseases.

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