Evolus, Inc. (NASDAQ:EOLS) Sees Significant Decline in Short Interest

Evolus, Inc. (NASDAQ:EOLS – Get Rating) was the recipient of a significant drop in short interest in February. As of February 28th, there was short interest totalling 2,210,000 shares, a drop of 6.4% from the February 13th total of 2,360,000 shares. Currently, 5.4% of the shares of the stock are short sold. Based on an average trading volume of 528,300 shares, the days-to-cover ratio is presently 4.2 days.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on EOLS shares. HC Wainwright restated a “buy” rating and issued a $15.00 target price on shares of Evolus in a report on Thursday, March 9th. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price target on shares of Evolus in a report on Thursday, March 9th. SVB Leerink lifted their price target on shares of Evolus from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Thursday, January 19th. Finally, Mizuho lifted their price target on shares of Evolus from $15.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, January 19th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.00.

Insiders Place Their Bets

In other Evolus news, major shareholder Alphaeon 1 Llc sold 1,850,000 shares of Evolus stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $8.40, for a total transaction of $15,540,000.00. Following the transaction, the insider now directly owns 4,214,871 shares of the company’s stock, valued at $35,404,916.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder Alphaeon 1 Llc sold 1,850,000 shares of the firm’s stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $8.40, for a total value of $15,540,000.00. Following the transaction, the insider now owns 4,214,871 shares in the company, valued at $35,404,916.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Medytox Inc. sold 2,187,511 shares of the firm’s stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $8.50, for a total transaction of $18,593,843.50. Following the completion of the transaction, the insider now owns 5,071,989 shares in the company, valued at approximately $43,111,906.50. The disclosure for this sale can be found here. Insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On Evolus

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Deerfield Management Company L.P. Series C lifted its position in Evolus by 195.5% in the second quarter. Deerfield Management Company L.P. Series C now owns 3,632,751 shares of the company’s stock worth $42,140,000 after buying an additional 2,403,517 shares during the last quarter. BlackRock Inc. increased its stake in shares of Evolus by 0.8% during the third quarter. BlackRock Inc. now owns 2,398,868 shares of the company’s stock valued at $19,311,000 after buying an additional 18,621 shares during the period. Vanguard Group Inc. grew its stake in Evolus by 1.5% in the third quarter. Vanguard Group Inc. now owns 1,876,388 shares of the company’s stock valued at $15,105,000 after purchasing an additional 27,846 shares during the last quarter. Caligan Partners LP purchased a new position in Evolus in the fourth quarter valued at about $13,073,000. Finally, Millennium Management LLC grew its stake in Evolus by 93.3% in the fourth quarter. Millennium Management LLC now owns 1,457,190 shares of the company’s stock valued at $10,943,000 after purchasing an additional 703,402 shares during the last quarter. 45.41% of the stock is owned by hedge funds and other institutional investors.

Evolus Price Performance

EOLS opened at $8.71 on Wednesday. The company’s 50-day simple moving average is $9.24 and its two-hundred day simple moving average is $8.54. Evolus has a 52-week low of $6.51 and a 52-week high of $14.34. The company has a debt-to-equity ratio of 3.89, a quick ratio of 1.76 and a current ratio of 2.17. The stock has a market capitalization of $491.33 million, a P/E ratio of -6.60 and a beta of 1.93.

Evolus Company Profile

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Evolus, Inc is a medical aesthetics company, which engages in the provision of medical aesthetic treatments and procedures. It offers products under the brand of Jeuveau. The company was founded by Scott Cannizzaro in November 2012 and is headquartered in Newport Beach, CA.