Bank of America Corp DE Sells 202,798 Shares of Evolus, Inc. $EOLS

Key Points

• Bank of America reduced its Evolus stake by 56.6%, selling 202,798 shares and retaining 155,248 shares valued at approximately $638,000. Institutional investors collectively own 90.69% of Evolus.
• Evolus shares opened at $9.30, near their 12-month high of $9.31, with a market capitalization of about $614 million. The stock’s 50-day and 200-day moving averages were $7.31 and $6.13, respectively.
• Analysts maintain a generally positive view, giving Evolus a consensus “Moderate Buy” rating and an average price target of $14.50, while insider David Moatazedi recently sold 105,108 shares for roughly $950,000.

Bank of America Corp DE lowered its stake in shares of Evolus, Inc. (NASDAQ:EOLS - Free Report) by 56.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 155,248 shares of the company's stock after selling 202,798 shares during the period. Bank of America Corp DE owned 0.24% of Evolus worth $638,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in EOLS. Nantahala Capital Management LLC raised its holdings in shares of Evolus by 1.6% in the 4th quarter. Nantahala Capital Management LLC now owns 5,820,649 shares of the company's stock valued at $38,707,000 after purchasing an additional 93,792 shares during the period. Caligan Partners LP boosted its stake in shares of Evolus by 23.8% during the 3rd quarter. Caligan Partners LP now owns 4,138,943 shares of the company's stock worth $25,413,000 after acquiring an additional 796,973 shares during the period. Vanguard Group Inc. increased its holdings in shares of Evolus by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 3,428,943 shares of the company's stock worth $21,054,000 after acquiring an additional 110,693 shares during the last quarter. Braidwell LP bought a new position in Evolus during the fourth quarter worth $20,650,000. Finally, Soleus Capital Management L.P. boosted its position in Evolus by 96.4% during the second quarter. Soleus Capital Management L.P. now owns 2,119,000 shares of the company's stock worth $19,516,000 after purchasing an additional 1,039,842 shares during the period. Institutional investors and hedge funds own 90.69% of the company's stock.

Evolus Price Performance

Shares of Evolus stock opened at $9.30 on Tuesday. The company has a market capitalization of $614.26 million, a price-to-earnings ratio of -17.88 and a beta of 1.42. Evolus, Inc. has a 12-month low of $3.86 and a 12-month high of $9.31. The firm's 50-day moving average price is $7.31 and its two-hundred day moving average price is $6.13.

Analyst Ratings Changes

Several equities analysts have recently weighed in on EOLS shares. Weiss Ratings raised shares of Evolus from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, June 15th. BTIG Research restated a "buy" rating and set a $13.00 price objective on shares of Evolus in a research report on Wednesday, June 17th. HC Wainwright restated a "buy" rating and set a $13.00 price objective on shares of Evolus in a report on Tuesday, August 25th. Finally, Wall Street Zen raised Evolus from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. 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 company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $14.50.

Insider Activity at Evolus

In other Evolus news, insider David Moatazedi sold 105,108 shares of the firm's stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $9.04, for a total value of $950,176.32. Following the sale, the insider owned 499,592 shares of the company's stock, valued at approximately $4,516,311.68. This trade represents a 17.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 5.00% of the company's stock.

Evolus Profile

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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