Evolus (NASDAQ:EOLS) Shares Down 6.5% – Here’s What Happened

Evolus, Inc. (NASDAQ:EOLS)’s stock price dropped 6.5% during trading on Thursday . The company traded as low as $8.00 and last traded at $8.0110. 239,506 shares were traded during trading, a decline of 77% from the average daily volume of 1,033,910 shares. The stock had previously closed at $8.57.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. HC Wainwright reiterated a “buy” rating and issued a $13.00 price target on shares of Evolus in a research note on Tuesday, August 25th. Wall Street Zen upgraded shares of Evolus from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. BTIG Research reiterated a “buy” rating and issued a $13.00 price target on shares of Evolus in a research report on Wednesday, June 17th. Finally, Weiss Ratings raised Evolus from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 15th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $14.50.

Evolus Stock Down 9.2%

The company’s 50 day moving average price is $7.38 and its two-hundred day moving average price is $6.19. The firm has a market cap of $514.20 million, a PE ratio of -14.97 and a beta of 1.42.

Insiders Place Their Bets

In related news, insider David Moatazedi sold 105,108 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $9.04, for a total value of $950,176.32. Following the sale, the insider directly owned 499,592 shares of the company’s stock, valued at $4,516,311.68. This represents a 17.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Evolus by 5.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,289 shares of the company’s stock worth $400,000 after acquiring an additional 1,838 shares during the last quarter. Millennium Management LLC grew its position in Evolus by 1.7% in the 1st quarter. Millennium Management LLC now owns 1,392,028 shares of the company’s stock valued at $16,746,000 after acquiring an additional 23,605 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in Evolus in the first quarter worth $158,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Evolus by 36.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 156,565 shares of the company’s stock worth $1,883,000 after purchasing an additional 41,513 shares during the period. Finally, Jane Street Group LLC lifted its position in shares of Evolus by 484.8% during the first quarter. Jane Street Group LLC now owns 69,947 shares of the company’s stock worth $841,000 after purchasing an additional 57,987 shares during the last quarter. Institutional investors own 90.69% of the company’s stock.

Evolus Company Profile

Evolus, Inc is a specialty pharmaceutical company focused on medical aesthetics. Headquartered in Newport Beach, California, Evolus develops and commercializes products designed to enhance facial appearance through minimally invasive procedures. Since its founding in 2017, the company has positioned itself in the fast-growing aesthetic market by partnering with leading manufacturers and leveraging clinical expertise to bring innovative injectables to practitioners and patients.

The company’s flagship offering, Jeuveau (prabotulinumtoxinA-xvfs), is a neuromodulator approved by the U.S.