Evelo Biosciences Inc (NASDAQ:EVLO) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 1,785,700 shares, an increase of 16.4% from the July 31st total of 1,534,700 shares. Based on an average daily trading volume, of 41,200 shares, the short-interest ratio is presently 43.3 days. Approximately 16.9% of the company’s stock are short sold.

A number of large investors have recently added to or reduced their stakes in EVLO. Rhumbline Advisers purchased a new stake in Evelo Biosciences during the 1st quarter worth approximately $122,000. Wells Fargo & Company MN grew its position in Evelo Biosciences by 121.0% during the 2nd quarter. Wells Fargo & Company MN now owns 24,670 shares of the company’s stock worth $221,000 after purchasing an additional 13,505 shares during the last quarter. Deutsche Bank AG grew its position in Evelo Biosciences by 68.0% during the 4th quarter. Deutsche Bank AG now owns 18,048 shares of the company’s stock worth $234,000 after purchasing an additional 7,305 shares during the last quarter. Bank of New York Mellon Corp grew its position 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 worth $392,000 after purchasing an additional 11,667 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position 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 worth $397,000 after purchasing an additional 3,088 shares during the last quarter. 86.20% of the stock is currently owned by institutional investors.

A number of brokerages have recently issued reports on EVLO. Zacks Investment Research downgraded shares of Evelo Biosciences from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. ValuEngine raised shares of Evelo Biosciences from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $18.30.

Shares of Evelo Biosciences stock traded up $0.04 on Friday, reaching $7.93. The stock had a trading volume of 142,313 shares, compared to its average volume of 53,498. The company has a 50 day moving average price of $6.23 and a 200 day moving average price of $7.73. The company has a quick ratio of 11.86, a current ratio of 11.86 and a debt-to-equity ratio of 0.15. Evelo Biosciences has a 1 year low of $4.90 and a 1 year high of $15.89. The stock has a market capitalization of $216.40 million, a P/E ratio of -2.85 and a beta of -0.22.

Evelo Biosciences (NASDAQ:EVLO) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.05). On average, analysts forecast that Evelo Biosciences will post -2.46 earnings per share for the current fiscal year.

Evelo Biosciences Company Profile

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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