Evogene (NASDAQ:EVGN) Stock Passes Below Two Hundred Day Moving Average – Here’s What Happened

Evogene Ltd. (NASDAQ:EVGN) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.75 and traded as low as $0.45. Evogene shares last traded at $0.5360, with a volume of 221,981 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Evogene in a research report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

Evogene Trading Down 2.3%

The firm’s fifty day moving average is $0.53 and its 200-day moving average is $0.74. The stock has a market capitalization of $5.54 million, a PE ratio of -0.46 and a beta of 1.40.

Evogene (NASDAQ:EVGN) last announced its earnings results on Saturday, May 16th. The biotechnology company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.33). The company had revenue of $0.33 million for the quarter, compared to analysts’ expectations of $0.35 million. Evogene had a negative return on equity of 158.82% and a negative net margin of 638.12%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in EVGN. XTX Topco Ltd purchased a new stake in shares of Evogene in the 4th quarter valued at $25,000. Jane Street Group LLC boosted its holdings in Evogene by 58.0% during the 1st quarter. Jane Street Group LLC now owns 33,732 shares of the biotechnology company’s stock valued at $42,000 after acquiring an additional 12,387 shares during the period. Finally, Citadel Advisors LLC grew its position in Evogene by 169.4% in the 3rd quarter. Citadel Advisors LLC now owns 57,575 shares of the biotechnology company’s stock valued at $66,000 after acquiring an additional 36,206 shares in the last quarter. 10.40% of the stock is currently owned by institutional investors and hedge funds.

About Evogene

Evogene Ltd. is a biotechnology company specializing in the use of computational and predictive biology technologies to design and develop novel products for agriculture and human health. Founded in 2002 and headquartered in Rehovot, Israel, the company has built a proprietary computational platform that integrates genomics, machine learning and data analytics to identify gene targets and biological traits. Evogene’s platform serves as the backbone for its research and development efforts, enabling the discovery of enhanced crop traits, microbial solutions and microbiome-based diagnostics and therapeutics.

In the agricultural sector, Evogene applies its platform to improve crop performance across a range of parameters, including yield enhancement, stress tolerance and resistance to pests and pathogens.