Evelo Biosciences (NASDAQ:EVLO) Price Target Cut to $5.00 by Analysts at BMO Capital Markets

Evelo Biosciences (NASDAQ:EVLO – Get Rating) had its target price cut by BMO Capital Markets from $10.00 to $5.00 in a research report issued on Friday, The Fly reports.

A number of other equities research analysts have also weighed in on EVLO. Morgan Stanley dropped their price objective on shares of Evelo Biosciences from $4.00 to $2.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 15th. Cantor Fitzgerald downgraded Evelo Biosciences from an “overweight” rating to a “neutral” rating in a research note on Thursday. Finally, Jefferies Financial Group cut Evelo Biosciences from a “buy” rating to an “underperform” rating in a research note on Wednesday, February 1st.

Evelo Biosciences Stock Down 13.4 %

NASDAQ:EVLO opened at $0.26 on Friday. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 3.93. Evelo Biosciences has a twelve month low of $0.26 and a twelve month high of $4.36. The company has a market cap of $27.95 million, a PE ratio of -0.18 and a beta of 1.37. The company’s 50 day moving average is $0.84 and its two-hundred day moving average is $1.59.

Hedge Funds Weigh In On Evelo Biosciences

Institutional investors have recently modified their holdings of the stock. Flagship Pioneering Inc. boosted its stake in shares of Evelo Biosciences by 119.0% in the second quarter. Flagship Pioneering Inc. now owns 50,427,328 shares of the company’s stock worth $106,401,000 after buying an additional 27,397,259 shares during the last quarter. FMR LLC boosted its position in Evelo Biosciences by 101.2% in the 2nd quarter. FMR LLC now owns 16,185,709 shares of the company’s stock worth $34,152,000 after purchasing an additional 8,139,220 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Evelo Biosciences by 136.9% during the 3rd quarter. Vanguard Group Inc. now owns 3,222,420 shares of the company’s stock worth $6,735,000 after purchasing an additional 1,862,098 shares during the period. CVI Holdings LLC purchased a new position in shares of Evelo Biosciences during the 2nd quarter valued at approximately $4,336,000. Finally, BlackRock Inc. lifted its stake in shares of Evelo Biosciences by 32.3% in the 3rd quarter. BlackRock Inc. now owns 1,205,366 shares of the company’s stock valued at $2,519,000 after purchasing an additional 294,413 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Evelo Biosciences Company Profile

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Evelo Biosciences, Inc operates as a clinical stage biotechnology company, which engages in the development of orally delivered investigational medicines. Its portfolio includes EDP1066 and EDP1815 for the treatment of inflammatory diseases, EDP2939 for inflammation, and EDP1908 for oncology. The company was founded by Noubar B.