Evelo Biosciences, Inc. (NASDAQ:EVLO)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $9.80, but opened at $10.20. Evelo Biosciences shares last traded at $10.00, with a volume of 302 shares trading hands.
Several equities research analysts have commented on EVLO shares. Morgan Stanley dropped their price target on shares of Evelo Biosciences from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Monday. JMP Securities increased their price objective on shares of Evelo Biosciences from $27.00 to $36.00 and gave the company an “outperform” rating in a report on Monday, January 25th. Jefferies Financial Group upgraded shares of Evelo Biosciences from a “hold” rating to a “buy” rating and raised their target price for the stock from $11.00 to $18.00 in a report on Monday, April 19th. Zacks Investment Research cut shares of Evelo Biosciences from a “hold” rating to a “sell” rating in a report on Wednesday, May 5th. Finally, Chardan Capital raised their target price on shares of Evelo Biosciences from $10.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, March 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Evelo Biosciences presently has an average rating of “Hold” and a consensus price target of $17.50.
The company has a current ratio of 6.24, a quick ratio of 6.24 and a debt-to-equity ratio of 0.59. The firm has a market cap of $531.07 million, a PE ratio of -3.94 and a beta of 1.46. The company’s 50-day moving average is $11.13 and its 200 day moving average is $10.76.
Large investors have recently modified their holdings of the stock. Meeder Asset Management Inc. purchased a new stake in shares of Evelo Biosciences in the 1st quarter valued at approximately $28,000. Dorsey Wright & Associates purchased a new stake in shares of Evelo Biosciences during the first quarter worth $34,000. Citigroup Inc. boosted its position in Evelo Biosciences by 275.1% during the fourth quarter. Citigroup Inc. now owns 3,605 shares of the company’s stock valued at $44,000 after purchasing an additional 2,644 shares during the last quarter. American International Group Inc. grew its stake in Evelo Biosciences by 15.5% in the first quarter. American International Group Inc. now owns 13,422 shares of the company’s stock valued at $144,000 after purchasing an additional 1,801 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in Evelo Biosciences in the 4th quarter worth about $172,000. Institutional investors and hedge funds own 84.57% of the company’s stock.
Evelo Biosciences Company Profile (NASDAQ:EVLO)
Evelo Biosciences, Inc, a biotechnology company, discovers and develops oral biologics for the treatment of inflammatory diseases and cancer. It is developing EDP1815, a whole-microbe candidate for the treatment of inflammatory diseases; and is in clinical development trial for the treatment of psoriasis and atopic dermatitis, as well as for the hyperinflammatory response associated with COVID-19.
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