StockNews.com Initiates Coverage on Evogene (NASDAQ:EVGN)

Research analysts at StockNews.com began coverage on shares of Evogene (NASDAQ:EVGN) in a note issued to investors on Wednesday. The firm set a “sell” rating on the biotechnology company’s stock.

Separately, Alliance Global Partners restated a “buy” rating on shares of Evogene in a report on Friday, March 7th.

Evogene Price Performance

NASDAQ EVGN opened at $1.27 on Wednesday. Evogene has a 12 month low of $0.95 and a 12 month high of $9.00. The company has a market capitalization of $6.81 million, a P/E ratio of -0.28 and a beta of 1.55. The company’s 50 day simple moving average is $1.19 and its 200 day simple moving average is $1.45.

Evogene (NASDAQ:EVGN) last posted its quarterly earnings results on Thursday, March 6th. The biotechnology company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.72) by $0.78. Evogene had a negative return on equity of 109.05% and a negative net margin of 314.43%. The company had revenue of $1.61 million for the quarter, compared to analysts’ expectations of $3.63 million. During the same quarter in the prior year, the company earned ($1.30) earnings per share.

Institutional Trading of Evogene

A number of hedge funds have recently bought and sold shares of EVGN. Jane Street Group LLC purchased a new position in shares of Evogene in the fourth quarter worth approximately $40,000. Armistice Capital LLC lifted its position in shares of Evogene by 5.9% in the 1st quarter. Armistice Capital LLC now owns 316,024 shares of the biotechnology company’s stock valued at $395,000 after acquiring an additional 17,743 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new position in Evogene in the 4th quarter worth approximately $30,000. 10.40% of the stock is owned by hedge funds and other institutional investors.

About Evogene

Evogene Ltd., together with its subsidiaries, operates as a computational biology company. It focuses on product discovery and development in life-science based industries, including human health and agriculture, through the use of its Computational Predictive Biology (CPB) platform. The company operates through three segments: Agriculture, Human Health, and Industrial Applications.