Stonepine Capital Management LLC Sells 130,077 Shares of Evolus, Inc. $EOLS

Key Points

• Stonepine Capital Management LLC reduced its stake in Evolus, Inc. by 10.3%, now holding 1,134,574 shares valued at approximately $13.65 million.
• Analysts have mixed opinions on Evolus, with current price targets ranging from $18.00 to $22.00, and an average rating of "Moderate Buy."
• Insider trading activity includes Director Brady Stewart buying 30,000 shares at $6.82 per share, significantly increasing his stake in the company.

Stonepine Capital Management LLC decreased its position in Evolus, Inc. (NASDAQ:EOLS - Free Report) by 10.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,134,574 shares of the company's stock after selling 130,077 shares during the quarter. Evolus accounts for approximately 13.1% of Stonepine Capital Management LLC's holdings, making the stock its 2nd biggest holding. Stonepine Capital Management LLC owned approximately 1.76% of Evolus worth $13,649,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in EOLS. AlphaQuest LLC bought a new stake in shares of Evolus in the 1st quarter worth about $39,000. IFP Advisors Inc grew its holdings in Evolus by 99.0% during the 1st quarter. IFP Advisors Inc now owns 9,427 shares of the company's stock worth $113,000 after acquiring an additional 4,691 shares during the last quarter. Rafferty Asset Management LLC bought a new stake in Evolus during the 4th quarter worth about $115,000. Man Group plc bought a new stake in Evolus during the 4th quarter worth about $121,000. Finally, Freestone Grove Partners LP bought a new stake in Evolus during the 4th quarter worth about $140,000. Institutional investors own 90.69% of the company's stock.

Evolus Price Performance

Shares of NASDAQ:EOLS traded down $0.07 during mid-day trading on Wednesday, reaching $7.58. The stock had a trading volume of 677,311 shares, compared to its average volume of 2,323,515. The firm has a 50 day simple moving average of $8.50 and a two-hundred day simple moving average of $10.52. The company has a debt-to-equity ratio of 22.00, a quick ratio of 1.86 and a current ratio of 2.27. Evolus, Inc. has a twelve month low of $5.71 and a twelve month high of $17.82.

Analyst Upgrades and Downgrades

EOLS has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of Evolus from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. BTIG Research decreased their price objective on shares of Evolus from $21.00 to $18.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. HC Wainwright decreased 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. Finally, Needham & Company LLC reissued a "hold" rating and set a $22.00 price objective on shares of Evolus in a report on Wednesday, August 6th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $21.25.

Insider Activity

In related news, insider David Moatazedi sold 16,582 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $9.89, for a total value of $163,995.98. Following the sale, the insider directly owned 364,927 shares in the company, valued at $3,609,128.03. This trade represents a 4.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Albert G. White III bought 20,000 shares of the company's stock in a transaction on Monday, June 9th. The shares were bought at an average price of $9.45 per share, for a total transaction of $189,000.00. Following the completion of the acquisition, the director directly owned 50,378 shares in the company, valued at approximately $476,072.10. This trade represents a 65.84% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 133,627 shares of company stock valued at $1,325,764. Insiders own 5.90% of the company's stock.

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.