Research Analysts Offer Predictions for Evelo Biosciences, Inc.’s FY2023 Earnings (NASDAQ:EVLO)

Evelo Biosciences, Inc. (NASDAQ:EVLO – Get Rating) – Equities research analysts at Cantor Fitzgerald issued their FY2023 earnings estimates for shares of Evelo Biosciences in a research note issued on Monday, June 6th. Cantor Fitzgerald analyst K. Kluska forecasts that the company will post earnings per share of ($0.57) for the year.

Separately, Zacks Investment Research downgraded shares of Evelo Biosciences from a “buy” rating to a “hold” rating in a research report on Wednesday, March 30th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $20.38.

NASDAQ EVLO opened at $2.47 on Thursday. The company has a fifty day moving average of $2.43 and a 200 day moving average of $4.34. Evelo Biosciences has a 1 year low of $1.42 and a 1 year high of $17.13. The company has a debt-to-equity ratio of 5.37, a quick ratio of 2.67 and a current ratio of 2.67.

Evelo Biosciences (NASDAQ:EVLO – Get Rating) last posted its quarterly earnings data on Thursday, May 12th. The company reported ($0.56) EPS for the quarter, topping the consensus estimate of ($0.61) by $0.05.

In other news, major shareholder Ventures Fund Iv Gene Flagship acquired 27,397,259 shares of the firm’s stock in a transaction on Friday, May 27th. The stock was acquired at an average price of $1.46 per share, for a total transaction of $39,999,998.14. Following the completion of the transaction, the insider now owns 13,698,630 shares in the company, valued at approximately $19,999,999.80. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 6.10% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA increased its stake in shares of Evelo Biosciences by 644.1% during the third quarter. BNP Paribas Arbitrage SA now owns 5,692 shares of the company’s stock worth $40,000 after purchasing an additional 4,927 shares in the last quarter. Citigroup Inc. increased its stake in shares of Evelo Biosciences by 297.6% during the third quarter. Citigroup Inc. now owns 5,742 shares of the company’s stock worth $40,000 after purchasing an additional 4,298 shares in the last quarter. Invesco Ltd. purchased a new stake in shares of Evelo Biosciences during the third quarter worth about $77,000. Walleye Capital LLC purchased a new stake in shares of Evelo Biosciences during the first quarter worth about $38,000. Finally, Jane Street Group LLC purchased a new stake in shares of Evelo Biosciences during the third quarter worth about $79,000. 92.20% of the stock is owned by institutional investors and hedge funds.

About Evelo Biosciences (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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