Evogene (NASDAQ:EVGN) Receives New Coverage from Analysts at StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of Evogene (NASDAQ:EVGN) in a research note issued to investors on Friday. The firm set a “sell” rating on the biotechnology company’s stock.

Evogene Stock Performance

NASDAQ EVGN opened at $0.70 on Friday. The business’s 50-day moving average price is $0.76 and its 200 day moving average price is $0.75. Evogene has a twelve month low of $0.45 and a twelve month high of $1.44. The company has a market capitalization of $28.86 million, a PE ratio of -1.32 and a beta of 1.47.

Evogene (NASDAQ:EVGN) last announced its quarterly earnings data on Thursday, March 7th. The biotechnology company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.01. Evogene had a negative net margin of 423.39% and a negative return on equity of 76.93%. The business had revenue of $0.58 million for the quarter, compared to analyst estimates of $1.73 million. During the same period in the prior year, the firm posted ($0.07) EPS.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Evogene stock. Silverarc Capital Management LLC raised its position in Evogene Ltd. (NASDAQ:EVGN) by 3,000.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,100,000 shares of the biotechnology company’s stock after purchasing an additional 3,000,000 shares during the quarter. Silverarc Capital Management LLC owned 7.52% of Evogene worth $1,818,000 at the end of the most recent quarter. 10.40% of the stock is owned by institutional investors and hedge funds.

About Evogene

Evogene Ltd., together with its subsidiaries, operates as a computational biology company. It focuses on product discovery and development in life-science based industries, including human health and agriculture, through the use of its Computational Predictive Biology (CPB) platform. The company operates through three segments: Agriculture, Human Health, and Industrial Applications.