Evogene (NASDAQ:EVGN) Share Price Passes Below Two Hundred Day Moving Average – Here’s Why

Evogene Ltd. (NASDAQ:EVGN)’s share price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.16 and traded as low as $0.9114. Evogene shares last traded at $0.96, with a volume of 87,509 shares.

Evogene Trading Up 1.6%

The company has a market cap of $5.15 million, a P/E ratio of -1.92 and a beta of 1.35. The business’s 50 day simple moving average is $1.05 and its 200 day simple moving average is $1.16.

Evogene (NASDAQ:EVGN) last posted its quarterly earnings results on Thursday, November 20th. The biotechnology company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.10. The business had revenue of $0.31 million during the quarter, compared to analyst estimates of $0.65 million. Evogene had a negative net margin of 52.33% and a negative return on equity of 75.09%.

Hedge Funds Weigh In On Evogene

A hedge fund recently raised its stake in Evogene stock. Jane Street Group LLC lifted its holdings in Evogene Ltd. (NASDAQ:EVGN) by 58.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,732 shares of the biotechnology company’s stock after acquiring an additional 12,387 shares during the period. Jane Street Group LLC owned 0.63% of Evogene worth $42,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 10.40% of the company’s stock.

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.