Evolus (NASDAQ:EOLS) Hits New 12-Month Low After 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.

Evolus, Inc. (NASDAQ:EOLS - Get Free Report)'s stock price reached a new 52-week low on Thursday after BTIG Research lowered their price target on the stock from $21.00 to $18.00. BTIG Research currently has a buy rating on the stock. Evolus 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 research analysts have also weighed in on EOLS. HC Wainwright dropped their price target on Evolus from $27.00 to $20.00 and set a "buy" rating on the stock in a research report on Wednesday. Needham & Company LLC reiterated a "hold" rating and issued a $22.00 target price on shares of Evolus in a report on Wednesday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $21.25.

Insider Transactions at Evolus

In other news, Director Albert G. White III bought 20,000 shares of the stock in a transaction on Monday, June 9th. The shares were purchased at an average price of $9.45 per share, for a total transaction of $189,000.00. Following the completion of the purchase, the director directly owned 50,378 shares of the company's stock, valued at $476,072.10. This trade represents a 65.84% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Rui Avelar sold 3,385 shares of Evolus stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $9.87, for a total value of $33,409.95. Following the sale, the insider owned 359,082 shares of the company's stock, valued at approximately $3,544,139.34. This represents a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 153,571 shares of company stock valued at $1,537,090 in the last three months. 5.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Evolus by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,451 shares of the company's stock worth $347,000 after purchasing an additional 1,094 shares during the last quarter. Tradition Wealth Management LLC raised its position in shares of Evolus by 18.2% in the fourth quarter. Tradition Wealth Management LLC now owns 13,000 shares of the company's stock valued at $144,000 after purchasing an additional 2,000 shares during the period. MetLife Investment Management LLC lifted its stake in shares of Evolus by 6.3% in the fourth quarter. MetLife Investment Management LLC now owns 34,272 shares of the company's stock worth $378,000 after buying an additional 2,044 shares during the last quarter. AlphaQuest LLC bought a new stake in shares of Evolus during the 1st quarter worth $39,000. Finally, Rhumbline Advisers grew its stake in Evolus by 4.1% in the 1st quarter. Rhumbline Advisers now owns 83,436 shares of the company's stock valued at $1,004,000 after buying an additional 3,287 shares during the last quarter. Institutional investors and hedge funds own 90.69% of the company's stock.

Evolus Stock Down 28.5%

The firm has a market capitalization of $410.74 million, a price-to-earnings ratio of -6.50 and a beta of 1.12. The company has a debt-to-equity ratio of 22.00, a quick ratio of 2.16 and a current ratio of 2.34. The business's 50 day moving average is $9.38 and its 200-day moving average is $11.22.

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.

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