256,364 Evolus, Inc. $EOLS Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its Evolus stake by 28.2%, selling 256,364 shares in the third quarter and retaining 651,816 shares worth approximately $5.2 million.
• Institutional ownership remains high at 90.69%, while Evolus insider David Moatazedi sold 105,108 shares for about $950,176; insiders own 5% of the company.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $14.50, compared with the stock’s reported price of $7.37.

Assenagon Asset Management S.A. lessened its position in shares of Evolus, Inc. (NASDAQ:EOLS - Free Report) by 28.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 651,816 shares of the company's stock after selling 256,364 shares during the quarter. Assenagon Asset Management S.A. owned about 0.99% of Evolus worth $5,215,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nantahala Capital Management LLC purchased a new stake in Evolus during the second quarter valued at $38,878,026. BlackRock Inc. bought a new position in Evolus during the second quarter valued at $33,595,000. Braidwell LP grew its stake in shares of Evolus by 1.6% in the 2nd quarter. Braidwell LP now owns 3,155,209 shares of the company's stock worth $21,897,000 after buying an additional 50,000 shares in the last quarter. Rice Hall James & Associates LLC purchased a new position in shares of Evolus in the 2nd quarter worth $8,952,000. Finally, Perceptive Advisors LLC purchased a new position in shares of Evolus in the 1st quarter worth $5,289,000. 90.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Evolus

In related news, insider David Moatazedi sold 105,108 shares of the firm's stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $9.04, for a total value of $950,176.32. Following the transaction, the insider owned 499,592 shares of the company's stock, valued at $4,516,311.68. This trade represents a 17.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 5.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on EOLS. Weiss Ratings restated a "sell (d-)" rating on shares of Evolus in a report on Friday, September 11th. Wall Street Zen upgraded Evolus from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Finally, HC Wainwright restated a "buy" rating and set a $13.00 price objective on shares of Evolus in a research report on Tuesday, August 25th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $14.50.

Evolus Stock Up 0.1%

EOLS opened at $7.37 on Wednesday. The business has a fifty day moving average of $8.13 and a 200 day moving average of $6.81. Evolus, Inc. has a 52-week low of $3.86 and a 52-week high of $9.31. The stock has a market cap of $486.79 million, a P/E ratio of -14.17 and a beta of 1.33.

Evolus Company Profile

Evolus, Inc is a commercial-stage medical aesthetics company focused on developing and marketing products for healthcare providers and consumers. The company's portfolio is designed to address facial wrinkles, folds and other signs of aging through injectable aesthetic treatments.

Evolus' flagship product is Jeuveau (prabotulinumtoxinA-xvfs), an injectable botulinum toxin approved in the United States for the temporary improvement of moderate to severe glabellar lines in adults. The company markets Jeuveau in the United States and sells the product internationally under the Nuceiva brand in certain markets.

The company has expanded beyond neuromodulators with its Evolysse collection of injectable hyaluronic acid dermal fillers, which is intended to address facial volume loss and wrinkles.

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