OvaScience Inc. (NASDAQ:OVAS) Sees Significant Decline in Short Interest
OvaScience Inc. (NASDAQ:OVAS) was the target of a significant decline in short interest during the month of July. As of July 31st, there was short interest totalling 3,328,895 shares, a decline of 31.0% from the July 14th total of 4,825,999 shares. Based on an average daily volume of 214,957 shares, the days-to-cover ratio is currently 15.5 days. Approximately 10.4% of the company’s stock are short sold.
Hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN increased its stake in shares of OvaScience by 28.8% in the second quarter. Wells Fargo & Company MN now owns 164,283 shares of the biotechnology company’s stock valued at $256,000 after buying an additional 36,720 shares during the last quarter. Jennison Associates LLC increased its stake in OvaScience by 0.4% in the second quarter. Jennison Associates LLC now owns 2,191,258 shares of the biotechnology company’s stock worth $3,418,000 after buying an additional 7,731 shares in the last quarter. Legal & General Group Plc increased its stake in OvaScience by 4,654.1% in the second quarter. Legal & General Group Plc now owns 458,822 shares of the biotechnology company’s stock worth $713,000 after buying an additional 449,171 shares in the last quarter. LMR Partners LLP bought a new stake in OvaScience during the second quarter worth approximately $145,000. Finally, EcoR1 Capital LLC bought a new stake in OvaScience during the first quarter worth approximately $6,568,000. 63.54% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have issued reports on OVAS. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of OvaScience in a report on Thursday, June 22nd. Zacks Investment Research raised shares of OvaScience from a “sell” rating to a “hold” rating in a report on Wednesday. Credit Suisse Group reaffirmed an “underperform” rating and issued a $1.00 price target on shares of OvaScience in a report on Tuesday, April 18th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price target on shares of OvaScience in a report on Friday, May 12th.
Shares of OvaScience (OVAS) opened at 1.42 on Friday. The stock’s 50 day moving average is $1.55 and its 200-day moving average is $1.51. The stock’s market capitalization is $50.67 million. OvaScience has a one year low of $1.25 and a one year high of $8.98.
OvaScience (NASDAQ:OVAS) last issued its earnings results on Thursday, August 3rd. The biotechnology company reported ($0.45) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.47) by $0.02. The business had revenue of $0.08 million for the quarter, compared to the consensus estimate of $0.09 million. OvaScience had a negative net margin of 16,132.47% and a negative return on equity of 69.13%. The business’s quarterly revenue was down 55.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.62) earnings per share. On average, equities research analysts predict that OvaScience will post ($1.67) EPS for the current fiscal year.
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OvaScience Company Profile
OvaScience, Inc is a global fertility company. The Company is focused on the discovery, development and commercialization of fertility treatment options for women. The Company’s portfolio of fertility treatment options uses its technology, including methods to identify and isolate Egg precursor (EggPC) cells from a patient’s own ovarian tissue.
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