BlackRock Inc. Makes New Investment in Evolus, Inc. $EOLS

Key Points

• BlackRock acquired 4.84 million Evolus shares worth approximately $33.6 million, giving it a 7.35% stake. Institutional investors collectively own 90.69% of the company.
• Evolus shares opened at $9.08, near their 52-week high of $9.15, with the stock trading above both its 50-day and 200-day moving averages.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $14.50, well above the current price.

BlackRock Inc. acquired a new stake in shares of Evolus, Inc. (NASDAQ:EOLS - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 4,840,828 shares of the company's stock, valued at approximately $33,595,000. BlackRock Inc. owned approximately 7.35% of Evolus as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. raised its stake in Evolus by 51.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 908,180 shares of the company's stock worth $6,303,000 after acquiring an additional 310,035 shares during the period. Perceptive Advisors LLC bought a new position in shares of Evolus in the first quarter worth approximately $5,289,000. Deutsche Bank AG bought a new position in shares of Evolus in the second quarter worth approximately $3,157,000. Rice Hall James & Associates LLC purchased a new stake in shares of Evolus in the second quarter worth $8,952,000. Finally, Pinnacle Associates Ltd. increased its stake in shares of Evolus by 15.9% in the fourth quarter. Pinnacle Associates Ltd. now owns 782,365 shares of the company's stock worth $5,203,000 after purchasing an additional 107,490 shares in the last quarter. 90.69% of the stock is currently owned by institutional investors.

Evolus Price Performance

Evolus stock opened at $9.08 on Wednesday. Evolus, Inc. has a 1 year low of $3.86 and a 1 year high of $9.15. The firm's 50 day moving average price is $7.14 and its 200-day moving average price is $5.99. The stock has a market cap of $599.73 million, a P/E ratio of -17.46 and a beta of 1.35.

Wall Street Analyst Weigh In

EOLS has been the topic of a number of analyst reports. BTIG Research restated a "buy" rating and set a $13.00 target price on shares of Evolus in a research note on Wednesday, June 17th. Wall Street Zen raised shares of Evolus from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. HC Wainwright reiterated a "buy" rating and issued a $13.00 price target on shares of Evolus in a research note on Tuesday, August 25th. Finally, Weiss Ratings raised Evolus from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, June 15th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Evolus presently has a consensus rating of "Moderate Buy" and an average target price of $14.50.

Evolus Company 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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