Evogene (NASDAQ:EVGN) Shares Cross Below 200-Day Moving Average – Here’s Why

Shares of Evogene Ltd. (NASDAQ:EVGN) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.90 and traded as low as $0.5524. Evogene shares last traded at $0.5839, with a volume of 126,770 shares changing hands.

Evogene Stock Down 1.2%

The stock has a 50-day moving average of $0.74 and a 200 day moving average of $0.90. The company has a market capitalization of $5.09 million, a PE ratio of -0.42 and a beta of 1.35.

Evogene (NASDAQ:EVGN) last posted its quarterly earnings data 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 business had revenue of $0.33 million during 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%.

Hedge Funds Weigh In On Evogene

Several institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC increased its holdings in Evogene by 58.0% during the first quarter. Jane Street Group LLC now owns 33,732 shares of the biotechnology company’s stock worth $42,000 after buying an additional 12,387 shares during the last quarter. Citadel Advisors LLC raised its position in Evogene by 169.4% in the third quarter. Citadel Advisors LLC now owns 57,575 shares of the biotechnology company’s stock worth $66,000 after acquiring an additional 36,206 shares during the period. Finally, XTX Topco Ltd purchased a new position in Evogene in the fourth quarter valued at about $25,000. 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.