Evolus (NASDAQ:EOLS) Shares Gap Down - Time to Sell?

Evolus, Inc. (NASDAQ:EOLS - Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $9.81, but opened at $9.33. Evolus shares last traded at $9.41, with a volume of 517,556 shares traded.

Wall Street Analysts Forecast Growth

EOLS has been the topic of a number of research reports. BTIG Research began coverage on Evolus in a report on Thursday, April 17th. They issued a "buy" rating and a $21.00 price objective on the stock. HC Wainwright reissued a "buy" rating and issued a $27.00 price target on shares of Evolus in a research note on Thursday, April 10th. Needham & Company LLC restated a "buy" rating and set a $22.00 price target on shares of Evolus in a research report on Thursday, May 8th. Finally, Barclays increased their price objective on shares of Evolus from $22.00 to $25.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $23.75.

Evolus Stock Performance

The firm has a fifty day moving average price of $10.61 and a 200 day moving average price of $11.97. The company has a current ratio of 2.47, a quick ratio of 2.23 and a debt-to-equity ratio of 20.58. The firm has a market cap of $604.14 million, a PE ratio of -10.30 and a beta of 1.11.

Insider Activity at Evolus

In related news, insider Rui Avelar sold 27,904 shares of Evolus stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $13.26, for a total value of $370,007.04. Following the completion of the sale, the insider now owns 362,467 shares in the company, valued at approximately $4,806,312.42. This trade represents a 7.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sandra Beaver sold 8,996 shares of the firm's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $13.26, for a total value of $119,286.96. Following the transaction, the chief financial officer now owns 173,583 shares of the company's stock, valued at approximately $2,301,710.58. This represents a 4.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,241 shares of company stock worth $1,048,666. Insiders own 6.10% of the company's stock.

Hedge Funds Weigh In On Evolus

Several institutional investors have recently bought and sold shares of the company. KBC Group NV purchased a new position in shares of Evolus in the fourth quarter valued at approximately $49,000. China Universal Asset Management Co. Ltd. lifted its holdings in Evolus by 10.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 13,426 shares of the company's stock worth $148,000 after buying an additional 1,291 shares in the last quarter. Rhumbline Advisers boosted its position in Evolus by 2.2% in the 4th quarter. Rhumbline Advisers now owns 80,149 shares of the company's stock valued at $885,000 after buying an additional 1,762 shares during the period. Principal Financial Group Inc. grew its stake in shares of Evolus by 9.8% in the fourth quarter. Principal Financial Group Inc. now owns 33,370 shares of the company's stock worth $368,000 after acquiring an additional 2,989 shares in the last quarter. Finally, Rice Hall James & Associates LLC grew its stake in shares of Evolus by 4.8% in the fourth quarter. Rice Hall James & Associates LLC now owns 948,281 shares of the company's stock worth $10,469,000 after acquiring an additional 43,381 shares in the last quarter. 90.69% of the stock is owned by institutional investors and hedge funds.

About Evolus

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.