Evolus (NASDAQ:EOLS) Shares Gap Down – Here’s Why

Evolus, Inc. (NASDAQ:EOLS)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $13.69, but opened at $13.40. Evolus shares last traded at $13.46, with a volume of 48,769 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Evolus in a report on Monday, September 16th. HC Wainwright reaffirmed a “buy” rating and set a $27.00 price objective on shares of Evolus in a research note on Thursday, November 7th. Barclays increased their target price on shares of Evolus from $16.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 price target on shares of Evolus in a research note on Friday, September 13th.

Evolus Trading Down 3.0 %

The stock has a fifty day moving average of $15.17 and a 200-day moving average of $13.88. The company has a market cap of $829.49 million, a PE ratio of -14.40 and a beta of 1.27. The company has a debt-to-equity ratio of 20.58, a quick ratio of 2.23 and a current ratio of 2.47.

Insider Activity at Evolus

In related news, CFO Sandra Beaver sold 3,276 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $14.98, for a total value of $49,074.48. Following the transaction, the chief financial officer now owns 148,502 shares of the company’s stock, valued at $2,224,559.96. This represents a 2.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Evolus

Hedge funds have recently made changes to their positions in the company. Barclays PLC increased its stake in shares of Evolus by 268.0% during the third quarter. Barclays PLC now owns 93,662 shares of the company’s stock valued at $1,518,000 after buying an additional 68,213 shares during the period. Geode Capital Management LLC increased its position in Evolus by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,210,621 shares of the company’s stock valued at $19,616,000 after purchasing an additional 11,027 shares during the period. Jane Street Group LLC raised its holdings in shares of Evolus by 47.0% in the 3rd quarter. Jane Street Group LLC now owns 91,899 shares of the company’s stock valued at $1,489,000 after purchasing an additional 29,396 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Evolus by 30.3% in the 3rd quarter. Wellington Management Group LLP now owns 175,039 shares of the company’s stock valued at $2,836,000 after purchasing an additional 40,715 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Evolus in the 3rd quarter worth approximately $132,000. 90.69% of the stock is currently owned by hedge funds and other institutional investors.

About Evolus

Evolus, Inc, a performance beauty company, focuses on delivering products in the cash-pay aesthetic market in the United States, Canada, and Europe. The company offers Jeuveau, a proprietary 900 kilodalton purified botulinum toxin type A formulation for the temporary improvement in the appearance of moderate to severe glabellar lines in adults.