Evogene (NASDAQ:EVGN) Stock Passes Below 200-Day Moving Average – Should You Sell?

Evogene Ltd. (NASDAQ:EVGN)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.70 and traded as low as $0.5331. Evogene shares last traded at $0.5495, with a volume of 113,325 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Evogene in a report on Wednesday, July 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Evogene has an average rating of “Sell”.

Evogene Price Performance

The stock’s 50 day moving average is $0.53 and its 200-day moving average is $0.70. The company has a market capitalization of $4.69 million, a P/E ratio of -0.59 and a beta of 1.40.

Insider Activity at Evogene

In other news, Director Leon Recanati bought 460,000 shares of the stock in a transaction dated Tuesday, August 11th. The stock was bought at an average price of $0.64 per share, for a total transaction of $294,400.00. Following the purchase, the director directly owned 1,343,886 shares in the company, valued at $860,087.04. This trade represents a 52.04% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Evogene

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

Evogene Company Profile

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.