Zimmer Partners LP Increases Stake in Evolus, Inc. $EOLS

Key Points

• Zimmer Partners LP has increased its stake in Evolus, Inc. by 21.2%, holding a total of 505,000 shares valued at approximately $6.08 million.
• Wall Street analysts have a moderate buy rating on Evolus with an average price target of $21.25, despite some firms downgrading their ratings.
• In insider transactions, Director Brady Stewart purchased 30,000 shares valued at over $204,000, while insider David Moatazedi sold 111,323 shares worth about $1.12 million.

Zimmer Partners LP raised its position in Evolus, Inc. (NASDAQ:EOLS - Free Report) by 21.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 505,000 shares of the company's stock after acquiring an additional 88,500 shares during the quarter. Zimmer Partners LP owned approximately 0.78% of Evolus worth $6,075,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Comerica Bank acquired a new position in shares of Evolus in the 4th quarter valued at $312,000. Tang Capital Management LLC boosted its holdings in shares of Evolus by 3.1% in the 4th quarter. Tang Capital Management LLC now owns 4,997,399 shares of the company's stock valued at $55,171,000 after buying an additional 150,000 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Evolus by 9.3% in the 4th quarter. Northern Trust Corp now owns 531,167 shares of the company's stock valued at $5,864,000 after buying an additional 45,384 shares in the last quarter. Rafferty Asset Management LLC acquired a new position in shares of Evolus in the 4th quarter valued at $115,000. Finally, PDT Partners LLC acquired a new position in shares of Evolus in the 1st quarter valued at $730,000. Hedge funds and other institutional investors own 90.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on EOLS shares. Needham & Company LLC restated a "hold" rating and issued a $22.00 target price on shares of Evolus in a report on Wednesday, August 6th. HC Wainwright lowered their target price on shares of Evolus from $27.00 to $20.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Wall Street Zen cut shares of Evolus from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Finally, BTIG Research restated a "buy" rating and issued a $18.00 target price on shares of Evolus in a report on Monday, September 8th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $21.25.

Evolus Stock Performance

EOLS stock traded down $0.32 on Friday, hitting $7.19. The company's stock had a trading volume of 707,868 shares, compared to its average volume of 846,430. The firm has a 50 day moving average of $8.08 and a two-hundred day moving average of $9.90. Evolus, Inc. has a 1 year low of $5.71 and a 1 year high of $17.82. The stock has a market cap of $465.05 million, a price-to-earnings ratio of -7.34 and a beta of 1.07. The company has a current ratio of 2.27, a quick ratio of 1.86 and a debt-to-equity ratio of 22.00.

Insider Activity at Evolus

In other Evolus news, CMO Tomoko Yamagishi-Dressler sold 5,722 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $7.51, for a total transaction of $42,972.22. Following the completion of the transaction, the chief marketing officer owned 89,949 shares in the company, valued at approximately $675,516.99. This represents a 5.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David Moatazedi sold 16,582 shares of the company's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $9.89, for a total transaction of $163,995.98. Following the transaction, the insider owned 364,927 shares of the company's stock, valued at approximately $3,609,128.03. The trade was a 4.35% decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is owned by insiders.

Evolus 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.