Evogene (NASDAQ:EVGN) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Evogene (NASDAQ:EVGN) in a research report report published on Tuesday. The brokerage issued a sell rating on the biotechnology company’s stock.

Evogene Stock Down 4.5 %

Shares of EVGN opened at $0.61 on Tuesday. Evogene has a fifty-two week low of $0.45 and a fifty-two week high of $1.44. The firm’s 50 day moving average price is $0.80 and its 200 day moving average price is $0.73. The company has a market cap of $25.22 million, a P/E ratio of -1.15 and a beta of 1.49.

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

Institutional Investors Weigh In On Evogene

A number of large investors have recently modified their holdings of EVGN. Silverarc Capital Management LLC boosted its holdings in shares of Evogene by 3,000.0% in the 3rd quarter. Silverarc Capital Management LLC now owns 3,100,000 shares of the biotechnology company’s stock valued at $1,818,000 after buying an additional 3,000,000 shares in the last quarter. Walleye Capital LLC acquired a new position in shares of Evogene in the 3rd quarter valued at $303,000. Renaissance Technologies LLC boosted its stake in Evogene by 51.8% during the 1st quarter. Renaissance Technologies LLC now owns 459,081 shares of the biotechnology company’s stock worth $597,000 after purchasing an additional 156,716 shares during the period. Bank of America Corp DE boosted its stake in Evogene by 49.7% during the 1st quarter. Bank of America Corp DE now owns 204,521 shares of the biotechnology company’s stock worth $265,000 after purchasing an additional 67,867 shares during the period. Finally, Vident Investment Advisory LLC boosted its stake in Evogene by 68.5% during the 1st quarter. Vident Investment Advisory LLC now owns 83,868 shares of the biotechnology company’s stock worth $109,000 after purchasing an additional 34,082 shares during the period. 10.40% of the stock is owned by hedge funds and other institutional investors.

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.