Evolus (NASDAQ:EOLS) Shares Gap Down to $13.76

Evolus, Inc. (NASDAQ:EOLS - Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $13.76, but opened at $13.36. Evolus shares last traded at $13.58, with a volume of 12,338 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Barclays raised shares of Evolus from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $10.00 to $16.00 in a report on Monday, January 29th. Needham & Company LLC restated a "buy" rating and set a $22.00 target price on shares of Evolus in a research report on Wednesday, December 20th. Finally, HC Wainwright restated a "buy" rating and set a $27.00 target price on shares of Evolus in a research report on Friday, March 1st.

Evolus Price Performance

The firm's 50-day moving average is $13.71 and its 200-day moving average is $10.88. The company has a market capitalization of $786.83 million, a P/E ratio of -12.46 and a beta of 1.45.

Evolus (NASDAQ:EOLS - Get Free Report) last posted its quarterly earnings results on Thursday, March 7th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.05). The business had revenue of $61.00 million for the quarter, compared to analyst estimates of $61.14 million. As a group, analysts forecast that Evolus, Inc. will post -0.51 EPS for the current fiscal year.

Insiders Place Their Bets

In other Evolus news, insider David Moatazedi sold 6,236 shares of the company's stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $13.86, for a total value of $86,430.96. Following the completion of the transaction, the insider now directly owns 689,614 shares in the company, valued at $9,558,050.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider David Moatazedi sold 6,236 shares of the company's stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $13.86, for a total transaction of $86,430.96. Following the completion of the transaction, the insider now owns 689,614 shares in the company, valued at $9,558,050.04. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Rui Avelar sold 27,603 shares of the company's stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $13.92, for a total transaction of $384,233.76. Following the transaction, the insider now owns 372,288 shares of the company's stock, valued at approximately $5,182,248.96. The disclosure for this sale can be found here. Insiders sold a total of 60,969 shares of company stock worth $831,005 over the last three months. 5.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Evolus

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 Hong Kong Ltd raised its stake in Evolus by 979.7% during the first quarter. Point72 Hong Kong Ltd now owns 2,343 shares of the company's stock valued at $26,000 after purchasing an additional 2,126 shares in the last quarter. Metropolitan Life Insurance Co NY purchased a new stake in Evolus during the first quarter valued at $26,000. Point72 Middle East FZE purchased a new stake in Evolus during the fourth quarter valued at $39,000. Tower Research Capital LLC TRC raised its stake in Evolus by 453.6% during the third quarter. Tower Research Capital LLC TRC now owns 6,372 shares of the company's stock valued at $51,000 after purchasing an additional 5,221 shares in the last quarter. Finally, Ensign Peak Advisors Inc bought a new stake in shares of Evolus in the 3rd quarter valued at about $54,000. Institutional investors own 90.69% of the company's stock.

Evolus Company 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.