Evelo Biosciences Target of Unusually Large Options Trading (NASDAQ:EVLO)

Posted by Defense World Staff on Jun 15th, 2023

Evelo Biosciences, Inc. (NASDAQ:EVLO – Get Rating) was the recipient of unusually large options trading on Wednesday. Stock traders bought 1,885 put options on the stock. This is an increase of 1,101% compared to the average volume of 157 put options.

Wall Street Analysts Forecast Growth

EVLO has been the subject of a number of analyst reports. BMO Capital Markets decreased their price objective on shares of Evelo Biosciences from $10.00 to $5.00 in a research report on Friday, March 17th. Morgan Stanley lowered their price objective on 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, Cantor Fitzgerald lowered Evelo Biosciences from an “overweight” rating to a “neutral” rating in a research report on Thursday, March 16th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of EVLO. Citigroup Inc. raised its stake in Evelo Biosciences by 1,522.6% during the fourth quarter. Citigroup Inc. now owns 99,625 shares of the company’s stock worth $160,000 after acquiring an additional 93,485 shares during the period. Morgan Stanley boosted its position in Evelo Biosciences by 22.6% during the 4th quarter. Morgan Stanley now owns 78,892 shares of the company’s stock valued at $127,000 after purchasing an additional 14,567 shares during the period. Cresset Asset Management LLC grew its stake in Evelo Biosciences by 200.0% during the 1st quarter. Cresset Asset Management LLC now owns 30,000 shares of the company’s stock worth $102,000 after buying an additional 20,000 shares during the last quarter. Boothbay Fund Management LLC acquired a new stake in Evelo Biosciences in the fourth quarter worth $85,000. Finally, Man Group plc bought a new stake in Evelo Biosciences in the fourth quarter valued at $85,000. 85.31% of the stock is currently owned by institutional investors.

Evelo Biosciences Trading Up 9.4 %

Shares of NASDAQ EVLO opened at $0.10 on Thursday. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 3.93. The stock’s 50 day moving average price is $0.14 and its two-hundred day moving average price is $0.73. 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 $11.04 million, a P/E ratio of -0.07 and a beta of 1.26.

Evelo Biosciences (NASDAQ:EVLO – Get Rating) last posted its quarterly earnings results on Thursday, March 16th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.09. On average, analysts anticipate that Evelo Biosciences will post -0.74 earnings per share for the current fiscal year.

About Evelo Biosciences

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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.