Evolus, Inc. (NASDAQ:EOLS) is Altium Capital Management LLC's 2nd Largest Position

Key Points

• Altium Capital Management LLC reduced its holdings in Evolus, Inc. by 56.8%, owning approximately 296,193 shares after selling 388,807 shares in the first quarter.
• The stock price of Evolus has seen recent movement, with shares opening at $6.40, a 10.9% increase, having a 12-month high of $17.82 and level of $5.71.
• This month, insider activity included a notable sale by David Moatazedi, who sold 111,323 shares, reflecting a 22.59% decrease in his ownership of the stock.

Altium Capital Management LLC cut its position in shares of Evolus, Inc. (NASDAQ:EOLS - Free Report) by 56.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 296,193 shares of the company's stock after selling 388,807 shares during the quarter. Evolus makes up about 8.6% of Altium Capital Management LLC's holdings, making the stock its 2nd biggest position. Altium Capital Management LLC owned approximately 0.46% of Evolus worth $3,563,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Evolus by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,451 shares of the company's stock valued at $347,000 after acquiring an additional 1,094 shares during the last quarter. Tradition Wealth Management LLC boosted its stake in 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 acquiring an additional 2,000 shares during the last quarter. MetLife Investment Management LLC boosted its stake in Evolus by 6.3% in the fourth quarter. MetLife Investment Management LLC now owns 34,272 shares of the company's stock valued at $378,000 after acquiring an additional 2,044 shares during the last quarter. Rhumbline Advisers boosted its stake in Evolus by 4.1% in the first quarter. Rhumbline Advisers now owns 83,436 shares of the company's stock valued at $1,004,000 after acquiring an additional 3,287 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Evolus by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 1,214,590 shares of the company's stock valued at $13,412,000 after acquiring an additional 3,969 shares during the last quarter. 90.69% of the stock is currently owned by hedge funds and other institutional investors.

Evolus Price Performance

Evolus stock traded up $0.33 during midday trading on Friday, reaching $6.73. 1,068,342 shares of the stock were exchanged, compared to its average volume of 2,275,758. The company's fifty day moving average is $8.89 and its 200-day moving average is $10.87. The company has a debt-to-equity ratio of 22.00, a quick ratio of 1.86 and a current ratio of 2.27. The firm has a market cap of $435.33 million, a PE ratio of -6.87 and a beta of 1.12. Evolus, Inc. has a 52 week low of $5.71 and a 52 week high of $17.82.

Insider Buying and Selling

In related news, insider David Moatazedi sold 16,582 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $9.89, for a total transaction of $163,995.98. Following the sale, the insider owned 364,927 shares of the company's stock, valued at approximately $3,609,128.03. This represents a 4.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Albert G. White III purchased 20,000 shares of the business's stock in a transaction on Monday, June 9th. The stock was bought at an average cost of $9.45 per share, with a total value of $189,000.00. Following the purchase, the director owned 50,378 shares in the company, valued at approximately $476,072.10. This represents a 65.84% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 5.90% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on EOLS. Wall Street Zen lowered shares of Evolus from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. BTIG Research lowered their price target on shares of Evolus from $21.00 to $18.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Needham & Company LLC reissued a "hold" rating and issued a $22.00 price target on shares of Evolus in a research report on Wednesday, August 6th. Finally, HC Wainwright lowered their price target on shares of Evolus from $27.00 to $20.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Evolus has a consensus rating of "Moderate Buy" and an average price target of $21.25.

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.