Evolus (NASDAQ:EOLS) Shares Climb 3.3% - What's Next?

Key Points

• Evolus shares rose 3.3% to $7.624, although trading volume was 92% below the average daily level.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and a $14.50 price target, despite one “Sell” rating.
• Institutional investors own 90.69% of Evolus, while insider ownership stands at 5%; an insider recently sold 105,108 shares at an average price of $9.04.

Evolus, Inc. (NASDAQ:EOLS - Get Free Report)'s share price rose 3.3% on Wednesday. The stock traded as high as $7.57 and last traded at $7.6240. 76,061 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 1,004,378 shares. The stock had previously closed at $7.38.

Analysts Set New Price Targets

Several research firms recently commented on EOLS. Wall Street Zen upgraded shares of Evolus from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. BTIG Research reiterated a "buy" rating and issued a $13.00 price target on shares of Evolus in a research report on Wednesday, June 17th. HC Wainwright reissued a "buy" rating and set a $13.00 price objective on shares of Evolus in a research note on Tuesday, August 25th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Evolus in a research report on Friday, September 11th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Evolus has a consensus rating of "Moderate Buy" and a consensus price target of $14.50.

Evolus Stock Performance

The business has a 50-day moving average of $7.97 and a 200 day moving average of $6.59. The stock has a market cap of $504.42 million, a PE ratio of -14.70 and a beta of 1.33.

Insider Activity

In other Evolus news, insider David Moatazedi sold 105,108 shares of the firm's stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $9.04, for a total transaction of $950,176.32. Following the sale, the insider directly owned 499,592 shares of the company's stock, valued at $4,516,311.68. This trade represents a 17.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Evolus

Several institutional investors and hedge funds have recently modified their holdings of the company. Nantahala Capital Management LLC acquired a new position in Evolus in the 2nd quarter valued at $38,878,026. BlackRock Inc. acquired a new stake in shares of Evolus during the second quarter worth $33,595,000. Braidwell LP boosted its holdings in shares of Evolus by 1.6% during the second quarter. Braidwell LP now owns 3,155,209 shares of the company's stock worth $21,897,000 after purchasing an additional 50,000 shares during the last quarter. Rice Hall James & Associates LLC purchased a new stake in shares of Evolus in the second quarter valued at $8,952,000. Finally, Perceptive Advisors LLC purchased a new stake in shares of Evolus in the first quarter valued at $5,289,000. Hedge funds and other institutional investors own 90.69% of the company's stock.

About Evolus

Evolus, Inc is a commercial-stage medical aesthetics company focused on developing and marketing products for healthcare providers and consumers. The company's portfolio is designed to address facial wrinkles, folds and other signs of aging through injectable aesthetic treatments.

Evolus' flagship product is Jeuveau (prabotulinumtoxinA-xvfs), an injectable botulinum toxin approved in the United States for the temporary improvement of moderate to severe glabellar lines in adults. The company markets Jeuveau in the United States and sells the product internationally under the Nuceiva brand in certain markets.

The company has expanded beyond neuromodulators with its Evolysse collection of injectable hyaluronic acid dermal fillers, which is intended to address facial volume loss and wrinkles.

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