Evolus (NASDAQ:EOLS) Reaches New 52-Week Low on Analyst Downgrade

Key Points

• Evolus' stock hit a new 52-week low at $5.85 following a downgrade of its price target by BTIG Research from $21.00 to $18.00, despite holding a buy rating.
• Other analysts have also lowered their price targets, with HC Wainwright bringing their target down from $27.00 to $20.00, while Needham & Company maintained a hold rating with a target of $22.00.
• Evolus has seen significant insider trading activity, with Director Albert G. White III increasing his holdings by 65.84% after buying 20,000 shares at an average price of $9.45 each.

Shares of Evolus, Inc. (NASDAQ:EOLS - Get Free Report) hit a new 52-week low during trading on Thursday after Wall Street Zen downgraded the stock from a hold rating to a sell rating. The company traded as low as $5.85 and last traded at $6.37, with a volume of 13690747 shares trading hands. The stock had previously closed at $8.91.

Several other equities analysts have also issued reports on EOLS. BTIG Research decreased their price objective on Evolus from $21.00 to $18.00 and set a "buy" rating for the company in a research report on Wednesday. HC Wainwright decreased their price objective on Evolus from $27.00 to $20.00 and set a "buy" rating for the company in a research report on Wednesday. Finally, Needham & Company LLC reiterated a "hold" rating and issued a $22.00 price objective on shares of Evolus in a research report on Wednesday. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $21.25.

Insiders Place Their Bets

In other Evolus news, CFO Sandra Beaver sold 6,494 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $10.02, for a total transaction of $65,069.88. Following the completion of the transaction, the chief financial officer owned 167,089 shares of the company's stock, valued at $1,674,231.78. This represents a 3.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Albert G. White III purchased 20,000 shares of Evolus stock in a transaction on Monday, June 9th. The shares were purchased at an average cost of $9.45 per share, with a total value of $189,000.00. Following the transaction, the director owned 50,378 shares in the company, valued at approximately $476,072.10. The trade was a 65.84% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 153,571 shares of company stock valued at $1,537,090 over the last 90 days. 5.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Evolus

A number of large investors have recently bought and sold shares of EOLS. Geode Capital Management LLC boosted its position in Evolus by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 1,214,590 shares of the company's stock worth $13,412,000 after acquiring an additional 3,969 shares during the last quarter. ExodusPoint Capital Management LP acquired a new stake in shares of Evolus in the 4th quarter valued at approximately $149,000. Wells Fargo & Company MN raised its position in Evolus by 41.6% during the fourth quarter. Wells Fargo & Company MN now owns 49,347 shares of the company's stock worth $545,000 after acquiring an additional 14,506 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its stake in Evolus by 60.3% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 18,886 shares of the company's stock valued at $208,000 after acquiring an additional 7,103 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Evolus in the fourth quarter valued at $575,000. Institutional investors and hedge funds own 90.69% of the company's stock.

Evolus Trading Down 2.8%

The stock has a market cap of $381.64 million, a price-to-earnings ratio of -6.02 and a beta of 1.12. The company has a quick ratio of 2.16, a current ratio of 2.27 and a debt-to-equity ratio of 22.00. The business's 50 day simple moving average is $9.25 and its 200 day simple moving average is $11.12.

Evolus Company Profile

Evolus, Inc, a performance beauty company, focuses on delivering products in the cash-pay aesthetic market in the United States, Canada, and Europe. The company offers Jeuveau, a proprietary 900 kilodalton purified botulinum toxin type A formulation for the temporary improvement in the appearance of moderate to severe glabellar lines in adults.