Evelo Biosciences, Inc. (NASDAQ:EVLO) Major Shareholder Purchases $39,999,998.14 in Stock

Posted by on Jun 2nd, 2022

Evelo Biosciences, Inc. (NASDAQ:EVLO – Get Rating) major shareholder Ventures Fund Iv Gene Flagship purchased 27,397,259 shares of the company’s stock in a transaction on Friday, May 27th. The shares were purchased at an average cost of $1.46 per share, with a total value of $39,999,998.14. Following the purchase, the insider now owns 13,698,630 shares of the company’s stock, valued at $19,999,999.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Shares of NASDAQ EVLO traded up $0.40 during midday trading on Wednesday, reaching $2.50. The company had a trading volume of 1,226,402 shares, compared to its average volume of 317,790. Evelo Biosciences, Inc. has a one year low of $1.42 and a one year high of $17.13. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 5.37. The firm’s fifty day moving average price is $2.56 and its 200-day moving average price is $4.60. The stock has a market cap of $134.15 million, a PE ratio of -1.08 and a beta of 1.75.

Evelo Biosciences (NASDAQ:EVLO – Get Rating) last released its earnings results on Thursday, May 12th. The company reported ($0.56) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.05. As a group, equities research analysts expect that Evelo Biosciences, Inc. will post -2.07 EPS for the current year.

A number of large investors have recently made changes to their positions in the stock. Walleye Capital LLC purchased a new position in Evelo Biosciences during the 1st quarter valued at about $38,000. State Street Corp increased its holdings in Evelo Biosciences by 3.3% during the 1st quarter. State Street Corp now owns 578,861 shares of the company’s stock valued at $1,962,000 after purchasing an additional 18,469 shares during the period. Cresset Asset Management LLC increased its holdings in Evelo Biosciences by 200.0% during the 1st quarter. Cresset Asset Management LLC now owns 30,000 shares of the company’s stock valued at $102,000 after purchasing an additional 20,000 shares during the period. Vanguard Group Inc. increased its holdings in Evelo Biosciences by 9.4% during the 1st quarter. Vanguard Group Inc. now owns 1,544,518 shares of the company’s stock valued at $5,235,000 after purchasing an additional 132,702 shares during the period. Finally, Group One Trading L.P. grew its holdings in shares of Evelo Biosciences by 93.4% during the 1st quarter. Group One Trading L.P. now owns 452,939 shares of the company’s stock worth $1,535,000 after acquiring an additional 218,730 shares during the period. Institutional investors own 92.20% of the company’s stock.

Separately, Zacks Investment Research lowered Evelo Biosciences from a “buy” rating to a “hold” rating in a research note on Wednesday, March 30th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $20.38.

Evelo Biosciences Company Profile (Get Rating)

Evelo Biosciences, Inc, a biotechnology company, discovers and develops oral biologics for the treatment of inflammatory diseases and cancer. It is developing EDP1815, a whole-microbe candidate for the treatment of inflammatory diseases; and is in Phase 2 clinical trial for the treatment of psoriasis and atopic dermatitis, as well as for the hyperinflammatory response associated with COVID-19.

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