Tang Capital Management LLC Buys 150,000 Shares of Evolus, Inc. (NASDAQ:EOLS)

Tang Capital Management LLC increased its stake in Evolus, Inc. (NASDAQ:EOLS - Free Report) by 3.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,997,399 shares of the company's stock after purchasing an additional 150,000 shares during the quarter. Evolus makes up 3.7% of Tang Capital Management LLC's investment portfolio, making the stock its 4th largest holding. Tang Capital Management LLC owned approximately 7.89% of Evolus worth $55,171,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. Nantahala Capital Management LLC boosted its stake in Evolus by 10.8% during the 4th quarter. Nantahala Capital Management LLC now owns 3,130,149 shares of the company's stock valued at $34,557,000 after purchasing an additional 305,300 shares during the period. Caligan Partners LP boosted its position in shares of Evolus by 22.7% in the fourth quarter. Caligan Partners LP now owns 2,692,388 shares of the company's stock valued at $29,724,000 after acquiring an additional 498,900 shares during the period. Millennium Management LLC boosted its position in shares of Evolus by 29.1% in the fourth quarter. Millennium Management LLC now owns 1,368,423 shares of the company's stock valued at $15,107,000 after acquiring an additional 308,753 shares during the period. Boothbay Fund Management LLC grew its stake in shares of Evolus by 30.9% in the fourth quarter. Boothbay Fund Management LLC now owns 1,287,767 shares of the company's stock worth $14,217,000 after acquiring an additional 304,065 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Evolus by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 1,214,590 shares of the company's stock worth $13,412,000 after acquiring an additional 3,969 shares during the period. Institutional investors own 90.69% of the company's stock.

Evolus Price Performance

Shares of EOLS stock traded up $0.05 during trading hours on Friday, reaching $9.61. 111,084 shares of the company were exchanged, compared to its average volume of 690,233. Evolus, Inc. has a fifty-two week low of $8.67 and a fifty-two week high of $17.82. The company has a debt-to-equity ratio of 20.58, a current ratio of 2.47 and a quick ratio of 2.23. The stock's fifty day moving average is $11.04 and its two-hundred day moving average is $12.18. The company has a market cap of $619.87 million, a price-to-earnings ratio of -10.54 and a beta of 1.11.

Insiders Place Their Bets

In other news, CFO Sandra Beaver sold 6,494 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $10.02, for a total transaction of $65,069.88. Following the transaction, the chief financial officer now directly owns 167,089 shares in the company, valued at $1,674,231.78. The trade was a 3.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Rui Avelar sold 27,904 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $13.26, for a total value of $370,007.04. Following the completion of the sale, the insider now owns 362,467 shares in the company, valued at $4,806,312.42. This represents a 7.15% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 86,241 shares of company stock worth $1,048,666. Corporate insiders own 5.90% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on EOLS shares. BTIG Research started coverage on shares of Evolus in a report on Thursday, April 17th. They set a "buy" rating and a $21.00 price objective on the stock. Barclays boosted their price target on Evolus from $22.00 to $25.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Needham & Company LLC reiterated a "buy" rating and issued a $22.00 price objective on shares of Evolus in a research report on Thursday, May 8th. Finally, HC Wainwright restated a "buy" rating and set a $27.00 price objective on shares of Evolus in a research report on Thursday, April 10th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy" and an average target price of $23.75.

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.