Evelo Biosciences Inc (NASDAQ:EVLO)’s share price shot up 11.9% during mid-day trading on Thursday . The company traded as high as $6.50 and last traded at $6.01, 348,137 shares were traded during mid-day trading. An increase of 270% from the average session volume of 94,206 shares. The stock had previously closed at $5.37.
Separately, Zacks Investment Research upgraded shares of Evelo Biosciences from a “sell” rating to a “hold” rating in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Evelo Biosciences has a consensus rating of “Buy” and an average target price of $12.17.
The stock has a market cap of $148.24 million, a price-to-earnings ratio of -2.45 and a beta of -0.35. The company has a debt-to-equity ratio of 0.24, a quick ratio of 10.46 and a current ratio of 10.46. The company’s 50 day simple moving average is $4.22 and its 200 day simple moving average is $5.95.
Evelo Biosciences (NASDAQ:EVLO) last released its earnings results on Tuesday, November 5th. The company reported ($0.67) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.67). Sell-side analysts predict that Evelo Biosciences Inc will post -2.54 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers increased its stake in Evelo Biosciences by 7.7% during the 3rd quarter. Rhumbline Advisers now owns 20,048 shares of the company’s stock valued at $122,000 after buying an additional 1,429 shares during the period. Wells Fargo & Company MN increased its stake in Evelo Biosciences by 121.0% during the 2nd quarter. Wells Fargo & Company MN now owns 24,670 shares of the company’s stock valued at $221,000 after buying an additional 13,505 shares during the period. Bank of New York Mellon Corp increased its stake in Evelo Biosciences by 36.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 43,599 shares of the company’s stock valued at $392,000 after buying an additional 11,667 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Evelo Biosciences by 7.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 44,103 shares of the company’s stock valued at $397,000 after buying an additional 3,088 shares during the period. Finally, Morgan Stanley grew its stake in shares of Evelo Biosciences by 15.0% in the 2nd quarter. Morgan Stanley now owns 64,206 shares of the company’s stock worth $576,000 after purchasing an additional 8,366 shares during the last quarter. 86.29% of the stock is currently owned by hedge funds and other institutional investors.
Evelo Biosciences Company Profile (NASDAQ:EVLO)
Evelo Biosciences, Inc, a biotechnology company, focuses on the development of monocolonal microbials for the treatment of inflammatory diseases and cancer. It is involved in developing EDP1066 and EDP1815, which are in Phase 1b placebo-controlled dose-escalating safety and tolerability clinical study for the treatment of atopic dermatitis, asthma, psoriatic arthritis, rheumatoid arthritis, and inflammatory bowel diseases.
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