Analysts Set Expectations for Evelo Biosciences, Inc.’s FY2023 Earnings (NASDAQ:EVLO)

Evelo Biosciences, Inc. (NASDAQ:EVLOGet Rating) – Research analysts at Cantor Fitzgerald cut their FY2023 earnings estimates for Evelo Biosciences in a note issued to investors on Wednesday, May 17th. Cantor Fitzgerald analyst K. Kluska now expects that the company will post earnings per share of ($0.58) for the year, down from their previous estimate of ($0.45). Cantor Fitzgerald has a “Neutral” rating on the stock. The consensus estimate for Evelo Biosciences’ current full-year earnings is ($0.74) per share.

Evelo Biosciences (NASDAQ:EVLOGet Rating) last issued its quarterly earnings data on Thursday, March 16th. The company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.09.

A number of other equities analysts have also recently commented on the stock. BMO Capital Markets dropped their price objective on shares of Evelo Biosciences from $10.00 to $5.00 in a research note on Friday, March 17th. Morgan Stanley dropped their price objective on shares of Evelo Biosciences from $4.00 to $2.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 15th. Finally, Jefferies Financial Group lowered shares of Evelo Biosciences from a “buy” rating to an “underperform” rating in a report on Wednesday, February 1st.

Evelo Biosciences Stock Performance

Shares of NASDAQ:EVLO opened at $0.15 on Monday. Evelo Biosciences has a 52 week low of $0.02 and a 52 week high of $3.29. The stock has a market capitalization of $17.08 million, a P/E ratio of -0.11 and a beta of 1.26. The firm has a fifty day simple moving average of $0.18 and a two-hundred day simple moving average of $0.96. The company has a quick ratio of 4.16, a current ratio of 0.53 and a debt-to-equity ratio of 3.93.

Institutional Investors Weigh In On Evelo Biosciences

Several institutional investors have recently made changes to their positions in EVLO. Vanguard Group Inc. lifted its holdings in shares of Evelo Biosciences by 9.4% in the 1st quarter. Vanguard Group Inc. now owns 1,544,518 shares of the company’s stock worth $5,235,000 after acquiring an additional 132,702 shares during the last quarter. Cresset Asset Management LLC lifted 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 buying an additional 20,000 shares in the last quarter. State Street Corp lifted 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 buying an additional 18,469 shares in the last quarter. Walleye Capital LLC bought a new stake in Evelo Biosciences during the 1st quarter valued at about $38,000. Finally, Millennium Management LLC lifted its holdings in Evelo Biosciences by 343.7% during the 2nd quarter. Millennium Management LLC now owns 193,134 shares of the company’s stock valued at $408,000 after buying an additional 149,605 shares in the last quarter. 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.

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Earnings History and Estimates for Evelo Biosciences (NASDAQ:EVLO)

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