Panagora Asset Management Inc. Invests $2.94 Million 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. bought a new stake in Evolus, Inc. (NASDAQ:EOLS - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 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 quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Tang Capital Management LLC boosted its holdings in Evolus by 3.1% in the fourth quarter. Tang Capital Management LLC now owns 4,997,399 shares of the company's stock valued at $55,171,000 after purchasing an additional 150,000 shares during the period. Vanguard Group Inc. lifted its holdings in Evolus by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 3,234,068 shares of the company's stock worth $38,906,000 after buying an additional 62,664 shares during the last quarter. Millennium Management LLC increased its position in shares of Evolus by 29.1% during the fourth quarter. Millennium Management LLC now owns 1,368,423 shares of the company's stock worth $15,107,000 after purchasing an additional 308,753 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Evolus during the first quarter worth about $12,330,000. Finally, Assenagon Asset Management S.A. increased its position in shares of Evolus by 63.2% during the first quarter. Assenagon Asset Management S.A. now owns 710,713 shares of the company's stock worth $8,550,000 after purchasing an additional 275,260 shares in the last quarter. 90.69% of the stock is currently owned by hedge funds and other institutional investors.

Evolus Stock Performance

NASDAQ EOLS traded down $0.03 on Monday, hitting $7.63. 122,999 shares of the company's stock were exchanged, compared to its average volume of 1,085,625. The company has a debt-to-equity ratio of 22.00, a current ratio of 2.27 and a quick ratio of 1.86. The firm's 50-day moving average price is $8.26 and its two-hundred day moving average price is $10.13. Evolus, Inc. has a fifty-two week low of $5.71 and a fifty-two week high of $17.82. The firm has a market cap of $493.51 million, a price-to-earnings ratio of -7.78 and a beta of 1.07.

Insiders Place Their Bets

In other Evolus news, CMO Tomoko Yamagishi-Dressler sold 5,722 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $7.51, for a total transaction of $42,972.22. Following the transaction, the chief marketing officer owned 89,949 shares in the company, valued at approximately $675,516.99. The trade was a 5.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Brady Stewart bought 30,000 shares of the company's stock in a transaction on Friday, August 15th. The shares were acquired at an average price of $6.82 per share, for a total transaction of $204,600.00. Following the transaction, the director directly owned 88,629 shares in the company, valued at $604,449.78. This trade represents a 51.17% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 133,627 shares of company stock worth $1,325,764. Company insiders own 6.10% of the company's stock.

Wall Street Analyst Weigh In

EOLS has been the topic of a number of research analyst reports. BTIG Research cut their target price on Evolus from $21.00 to $18.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Wall Street Zen cut Evolus from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Needham & Company LLC reiterated a "hold" rating and set a $22.00 target price on shares of Evolus in a research report on Wednesday, August 6th. Finally, HC Wainwright dropped their price target on Evolus from $27.00 to $20.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Evolus currently has a consensus rating of "Moderate Buy" and a consensus target price of $21.25.

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.