Weiss Ratings Reiterates Sell (D-) Rating for Evolus (NASDAQ:EOLS)

Key Points

• Weiss Ratings has reiterated a "sell (D-)" rating for Evolus, highlighting negative sentiment from analysts regarding the company's stock performance.
• Various analysts have issued differing ratings on Evolus, with HC Wainwright setting a "buy" rating and a target price decrease from $27.00 to $20.00, while others have downgraded the stock to "sell."
• Despite the negative ratings, Evolus shares experienced a 4.4% increase during trading hours, reaching $6.27, indicating some market activity amidst the cautious outlook.

Evolus (NASDAQ:EOLS - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by equities research analysts at Weiss Ratings in a research note issued on Tuesday,Weiss Ratings reports.

A number of other analysts have also recently issued reports on the company. HC Wainwright decreased their target price on Evolus from $27.00 to $20.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Needham & Company LLC reissued a "hold" rating and issued a $22.00 target price on shares of Evolus 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. Finally, BTIG Research reissued a "buy" rating and issued a $18.00 target price on shares of Evolus in a research report on Monday, September 8th. Three 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 company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $21.25.

Evolus Trading Up 4.4%

Shares of NASDAQ EOLS traded up $0.27 during trading hours on Tuesday, reaching $6.27. The stock had a trading volume of 278,483 shares, compared to its average volume of 1,082,404. The firm has a market cap of $405.22 million, a price-to-earnings ratio of -6.39 and a beta of 1.04. Evolus has a fifty-two week low of $5.71 and a fifty-two week high of $17.57. The firm has a 50-day moving average of $6.78 and a 200-day moving average of $8.87.

Insider Activity at Evolus

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

Hedge Funds Weigh In On Evolus

Several hedge funds have recently bought and sold shares of EOLS. Manchester Capital Management LLC purchased a new position in Evolus in the 2nd quarter valued at approximately $26,000. AlphaQuest LLC purchased a new position in Evolus during the first quarter worth $39,000. State of Wyoming increased its position in Evolus by 988.1% during the first quarter. State of Wyoming now owns 3,754 shares of the company's stock worth $45,000 after buying an additional 3,409 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Evolus by 340.2% during the second quarter. Tower Research Capital LLC TRC now owns 7,364 shares of the company's stock worth $68,000 after buying an additional 5,691 shares in the last quarter. Finally, Profund Advisors LLC purchased a new position in Evolus during the second quarter worth $100,000. 90.69% of the stock is owned by hedge funds and other institutional investors.

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.

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