Evolus (NASDAQ:EOLS) Reaches New 1-Year High - Here's What Happened

Key Points

• Evolus shares reached a new 52-week high, trading as high as $8.00 and gaining 5.5% from the previous close of $7.57.
• Analyst sentiment is generally positive: the stock has an average “Moderate Buy” rating and a consensus price target of $14.50, well above its recent trading level.
• Institutional investors own approximately 90.69% of Evolus, with several large funds recently increasing their positions.

Evolus, Inc. (NASDAQ:EOLS - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $8.00 and last traded at $7.9980, with a volume of 558070 shares. The stock had previously closed at $7.57.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on EOLS. Wall Street Zen raised shares of Evolus from a "hold" rating to a "buy" rating in a report on Saturday. BTIG Research restated a "buy" rating and issued a $13.00 target price on shares of Evolus in a research report on Wednesday, June 17th. Finally, Weiss Ratings upgraded shares of Evolus from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, June 15th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $14.50.

Evolus Trading Up 5.5%

The firm has a 50-day moving average price of $6.52 and a 200-day moving average price of $5.56. The company has a market capitalization of $527.74 million, a price-to-earnings ratio of -15.37 and a beta of 1.35.

Hedge Funds Weigh In On Evolus

Several large investors have recently made changes to their positions in the business. Rhumbline Advisers raised its holdings in shares of Evolus by 2.0% in the 2nd quarter. Rhumbline Advisers now owns 85,093 shares of the company's stock worth $784,000 after purchasing an additional 1,657 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Evolus by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,289 shares of the company's stock worth $400,000 after buying an additional 1,838 shares during the last quarter. Invesco Ltd. grew its position in Evolus by 7.5% in the second quarter. Invesco Ltd. now owns 34,283 shares of the company's stock worth $316,000 after buying an additional 2,383 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of Evolus by 136.6% in the fourth quarter. Larson Financial Group LLC now owns 4,914 shares of the company's stock valued at $33,000 after buying an additional 2,837 shares in the last quarter. Finally, Quantbot Technologies LP increased its holdings in shares of Evolus by 15.4% in the second quarter. Quantbot Technologies LP now owns 29,731 shares of the company's stock valued at $274,000 after buying an additional 3,971 shares in the last quarter. Institutional investors own 90.69% of the company's stock.

About Evolus

Evolus, Inc is a specialty pharmaceutical company focused on medical aesthetics. Headquartered in Newport Beach, California, Evolus develops and commercializes products designed to enhance facial appearance through minimally invasive procedures. Since its founding in 2017, the company has positioned itself in the fast-growing aesthetic market by partnering with leading manufacturers and leveraging clinical expertise to bring innovative injectables to practitioners and patients.

The company's flagship offering, Jeuveau (prabotulinumtoxinA-xvfs), is a neuromodulator approved by the U.S.

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