Evofem Biosciences, Inc. (NASDAQ:EVFM) was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 12,070,000 shares, an increase of 30.8% from the March 31st total of 9,230,000 shares. Based on an average daily volume of 0 shares, the days-to-cover ratio is presently ∞ days.
EVFM opened at $1.35 on Wednesday. The company has a market capitalization of $112.22 million, a price-to-earnings ratio of -0.69 and a beta of 0.07. The firm’s fifty day moving average price is $1.87 and its two-hundred day moving average price is $2.53. Evofem Biosciences has a 1 year low of $1.33 and a 1 year high of $6.87.
Evofem Biosciences (NASDAQ:EVFM) last posted its quarterly earnings data on Wednesday, March 3rd. The biotechnology company reported ($0.50) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.36) by ($0.14). The business had revenue of $0.17 million for the quarter, compared to analysts’ expectations of $1.70 million. As a group, sell-side analysts forecast that Evofem Biosciences will post -1.52 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of EVFM. Great Lakes Advisors LLC purchased a new position in Evofem Biosciences during the 1st quarter worth $2,970,000. BlackRock Inc. boosted its holdings in shares of Evofem Biosciences by 5.2% in the 4th quarter. BlackRock Inc. now owns 5,213,684 shares of the biotechnology company’s stock worth $12,564,000 after buying an additional 259,755 shares during the last quarter. Heartland Advisors Inc. boosted its holdings in shares of Evofem Biosciences by 10.9% in the 4th quarter. Heartland Advisors Inc. now owns 2,571,900 shares of the biotechnology company’s stock worth $6,198,000 after buying an additional 252,250 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in shares of Evofem Biosciences by 283.0% in the 4th quarter. GSA Capital Partners LLP now owns 255,303 shares of the biotechnology company’s stock worth $615,000 after buying an additional 188,637 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Evofem Biosciences by 548.8% in the 4th quarter. JPMorgan Chase & Co. now owns 211,822 shares of the biotechnology company’s stock worth $510,000 after buying an additional 179,175 shares during the last quarter. 44.84% of the stock is currently owned by hedge funds and other institutional investors.
Separately, HC Wainwright lowered their price objective on shares of Evofem Biosciences from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, March 15th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $9.07.
About Evofem Biosciences
Evofem Biosciences, Inc, a biopharmaceutical company, develops and commercializes various products to address unmet needs in women's sexual and reproductive health. Its commercial product is Phexxi, a vaginal gel for the prevention of pregnancy. The company is also involved in the development of EVO100, an antimicrobial vaginal gel for the prevention of urogenital transmission of Chlamydia trachomatis infection and Neisseria gonorrhoeae infection in women.
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