Evolus (NASDAQ:EOLS) Shares Up 3.3% – Time to Buy?

Evolus, Inc. (NASDAQ:EOLS)’s stock price shot up 3.3% during mid-day trading on Wednesday. The company traded as high as $7.57 and last traded at $7.6240. 76,061 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 1,004,378 shares. The stock had previously closed at $7.38.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on EOLS shares. BTIG Research reaffirmed a “buy” rating and set a $13.00 price objective on shares of Evolus in a research note on Wednesday, June 17th. Wall Street Zen raised shares of Evolus from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Evolus in a report on Friday, September 11th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $13.00 price target on shares of Evolus in a research report on Tuesday, August 25th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Evolus presently has a consensus rating of “Moderate Buy” and an average target price of $14.50.

Evolus Price Performance

The stock has a 50-day simple moving average of $7.97 and a 200-day simple moving average of $6.59. The stock has a market cap of $504.42 million, a PE ratio of -14.70 and a beta of 1.33.

Insider Activity

In related news, insider David Moatazedi sold 105,108 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $9.04, for a total transaction of $950,176.32. Following the completion of the sale, the insider owned 499,592 shares of the company’s stock, valued at approximately $4,516,311.68. This represents a 17.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sequoia Financial Advisors LLC acquired a new stake in shares of Evolus in the second quarter worth $71,000. WINTON GROUP Ltd purchased a new position in shares of Evolus in the 2nd quarter valued at $77,000. Squarepoint Ops LLC lifted its holdings in shares of Evolus by 24.8% during the 2nd quarter. Squarepoint Ops LLC now owns 197,708 shares of the company’s stock valued at $1,372,000 after acquiring an additional 39,316 shares in the last quarter. Angeles Wealth Management LLC acquired a new position in shares of Evolus during the 2nd quarter valued at $732,000. Finally, Concurrent Investment Advisors LLC purchased a new stake in Evolus during the 2nd quarter worth $193,000. 90.69% of the stock is owned by institutional investors and hedge funds.

About Evolus

Evolus, Inc is a commercial-stage medical aesthetics company focused on developing and marketing products for healthcare providers and consumers. The company’s portfolio is designed to address facial wrinkles, folds and other signs of aging through injectable aesthetic treatments.

Evolus’ flagship product is Jeuveau (prabotulinumtoxinA-xvfs), an injectable botulinum toxin approved in the United States for the temporary improvement of moderate to severe glabellar lines in adults. The company markets Jeuveau in the United States and sells the product internationally under the Nuceiva brand in certain markets.

The company has expanded beyond neuromodulators with its Evolysse collection of injectable hyaluronic acid dermal fillers, which is intended to address facial volume loss and wrinkles.