Evolus, Inc. (NASDAQ:EOLS) Sees Large Decline in Short Interest

Evolus, Inc. (NASDAQ:EOLS) saw a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 4,650,000 shares, a decrease of 6.6% from the March 15th total of 4,980,000 shares. Currently, 9.8% of the company’s shares are short sold. Based on an average daily volume of 657,700 shares, the days-to-cover ratio is currently 7.1 days.

Evolus Price Performance

Shares of EOLS stock traded down $0.38 on Wednesday, hitting $11.67. The stock had a trading volume of 140,080 shares, compared to its average volume of 631,446. The business has a 50 day moving average of $13.70 and a 200 day moving average of $11.13. The stock has a market cap of $676.16 million, a price-to-earnings ratio of -10.89 and a beta of 1.45. Evolus has a 12-month low of $7.07 and a 12-month high of $15.43.

Evolus (NASDAQ:EOLS) last posted its quarterly earnings results on Thursday, March 7th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.05). The company had revenue of $61.00 million for the quarter, compared to the consensus estimate of $61.14 million. As a group, research analysts expect that Evolus will post -0.51 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Rui Avelar sold 27,603 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $13.92, for a total value of $384,233.76. Following the sale, the insider now directly owns 372,288 shares of the company’s stock, valued at approximately $5,182,248.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider David Moatazedi sold 6,236 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $13.86, for a total transaction of $86,430.96. Following the transaction, the insider now directly owns 689,614 shares of the company’s stock, valued at $9,558,050.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Rui Avelar sold 27,603 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $13.92, for a total transaction of $384,233.76. Following the transaction, the insider now directly owns 372,288 shares in the company, valued at $5,182,248.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,969 shares of company stock valued at $831,005. 5.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Evolus

Several institutional investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC bought a new position in Evolus during the first quarter valued at about $1,907,000. Vanguard Group Inc. boosted its position in Evolus by 9.1% during the fourth quarter. Vanguard Group Inc. now owns 2,943,512 shares of the company’s stock worth $30,995,000 after purchasing an additional 244,865 shares during the period. Wellington Management Group LLP bought a new position in Evolus during the fourth quarter worth about $685,000. Perceptive Advisors LLC boosted its position in Evolus by 166.8% during the fourth quarter. Perceptive Advisors LLC now owns 3,963,424 shares of the company’s stock worth $41,735,000 after purchasing an additional 2,477,623 shares during the period. Finally, Sierra Summit Advisors LLC bought a new position in Evolus during the fourth quarter worth about $119,000. Institutional investors own 90.69% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on EOLS. Barclays upgraded shares of Evolus from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $10.00 to $16.00 in a report on Monday, January 29th. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 target price on shares of Evolus in a report on Wednesday, April 10th. Finally, HC Wainwright reiterated a “buy” rating and issued a $27.00 target price on shares of Evolus in a report on Friday, March 1st.

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.