Evolus (NASDAQ:EOLS) Shares Gap Up After Insider Buying Activity

Evolus, Inc. (NASDAQ:EOLS - Get Free Report)'s share price gapped up prior to trading on Wednesday after an insider bought additional shares in the company. The stock had previously closed at $9.87, but opened at $10.17. Evolus shares last traded at $10.38, with a volume of 256,876 shares.

Specifically, Director Albert G. White III purchased 20,000 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was acquired at an average cost of $9.45 per share, for a total transaction of $189,000.00. Following the completion of the purchase, the director now owns 50,378 shares in the company, valued at approximately $476,072.10. This represents a 65.84% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Analyst Ratings Changes

Several equities research analysts recently issued reports on EOLS shares. Barclays boosted their price target on Evolus from $22.00 to $25.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Needham & Company LLC reiterated a "buy" rating and issued a $22.00 price target on shares of Evolus in a research note on Thursday, May 8th. HC Wainwright reiterated a "buy" rating and issued a $27.00 price target on shares of Evolus in a research note on Thursday, April 10th. Finally, BTIG Research started coverage on Evolus in a research note on Thursday, April 17th. They issued a "buy" rating and a $21.00 price target for the company. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $23.75.

Evolus Stock Down 2.5%

The firm has a 50 day simple moving average of $10.31 and a two-hundred day simple moving average of $11.79. The company has a quick ratio of 2.23, a current ratio of 2.47 and a debt-to-equity ratio of 20.58. The stock has a market capitalization of $640.25 million, a P/E ratio of -10.91 and a beta of 1.00.

Institutional Investors Weigh In On Evolus

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AlphaQuest LLC bought a new stake in Evolus during the first quarter worth $39,000. State of Wyoming lifted its stake in Evolus by 988.1% during the first quarter. State of Wyoming now owns 3,754 shares of the company's stock worth $45,000 after purchasing an additional 3,409 shares during the last quarter. IFP Advisors Inc lifted its stake in Evolus by 17,440.7% during the fourth quarter. IFP Advisors Inc now owns 4,736 shares of the company's stock worth $52,000 after purchasing an additional 4,709 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in Evolus during the fourth quarter worth $106,000. Finally, Rafferty Asset Management LLC bought a new stake in Evolus during the fourth quarter worth $115,000. 90.69% of the stock is currently owned by institutional investors.

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.