Panagora Asset Management Inc. Makes New $2.94 Million Investment in Evolus, Inc. $EOLS

Key Points

• Panagora Asset Management Inc. invested $2.94 million in Evolus, acquiring 244,129 shares, representing approximately 0.38% ownership of the company.
• Institutional investors now hold 90.69% of Evolus' stock, with recent trades showing various hedge funds increasing their stakes in the company.
• Evolus shares are currently priced around $7.50 and have a market capitalization of $485.10 million, while analysts suggest a consensus price target of $21.25.

Panagora Asset Management Inc. acquired a new stake in Evolus, Inc. (NASDAQ:EOLS - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 244,129 shares of the company's stock, valued at approximately $2,937,000. Panagora Asset Management Inc. owned 0.38% of Evolus at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Frontier Capital Management Co. LLC acquired a new stake in shares of Evolus in the fourth quarter valued at about $2,648,000. Raymond James Financial Inc. acquired a new position in shares of Evolus in the 4th quarter worth approximately $575,000. Comerica Bank bought a new stake in shares of Evolus in the 4th quarter valued at $312,000. Tang Capital Management LLC increased its position in shares of Evolus by 3.1% during the fourth quarter. Tang Capital Management LLC now owns 4,997,399 shares of the company's stock worth $55,171,000 after buying an additional 150,000 shares during the period. Finally, Northern Trust Corp raised its stake in Evolus by 9.3% during the fourth quarter. Northern Trust Corp now owns 531,167 shares of the company's stock worth $5,864,000 after buying an additional 45,384 shares during the last quarter. Institutional investors and hedge funds own 90.69% of the company's stock.

Evolus Stock Performance

EOLS stock traded up $0.15 during midday trading on Friday, hitting $7.66. The company's stock had a trading volume of 534,857 shares, compared to its average volume of 1,155,379. 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 $495.49 million, a price-to-earnings ratio of -7.82 and a beta of 1.07. The stock's 50-day moving average price is $8.26 and its 200 day moving average price is $10.19. The company has a quick ratio of 1.86, a current ratio of 2.27 and a debt-to-equity ratio of 22.00.

Analyst Upgrades and Downgrades

Several brokerages recently commented on EOLS. Needham & Company LLC restated a "hold" rating and set a $22.00 target price on shares of Evolus in a research report on Wednesday, August 6th. BTIG Research reduced their price objective on shares of Evolus from $21.00 to $18.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Wall Street Zen lowered shares of Evolus from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, HC Wainwright dropped their price objective on shares of Evolus from $27.00 to $20.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $21.25.

Insider Transactions at Evolus

In other news, Director Albert G. White III bought 20,000 shares of the stock in a transaction on Monday, June 9th. The shares were purchased at an average cost of $9.45 per share, for a total transaction of $189,000.00. Following the completion of the purchase, the director directly owned 50,378 shares in the company, valued at $476,072.10. This represents a 65.84% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Tomoko Yamagishi-Dressler sold 5,722 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $7.51, for a total transaction of $42,972.22. Following the sale, the chief marketing officer directly owned 89,949 shares in the company, valued at approximately $675,516.99. This trade represents a 5.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 133,627 shares of company stock valued at $1,325,764 in the last three months. 5.90% of the stock is currently owned by company 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.