Evogene (NASDAQ:EVGN) Share Price Passes Above Fifty Day Moving Average – Here’s What Happened

Evogene Ltd. (NASDAQ:EVGN)’s share price crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $0.58 and traded as high as $0.6080. Evogene shares last traded at $0.5848, with a volume of 378,670 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Evogene in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Evogene currently has an average rating of “Moderate Buy”.

Evogene Stock Up 0.9%

The firm has a 50 day simple moving average of $0.58 and a 200-day simple moving average of $0.79. The company has a market cap of $5.10 million, a PE ratio of -0.42 and a beta of 1.40.

Evogene (NASDAQ:EVGN) last announced its earnings results on Saturday, May 16th. The biotechnology company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.33). Evogene had a negative return on equity of 158.82% and a negative net margin of 638.12%.The firm had revenue of $0.33 million during the quarter, compared to the consensus estimate of $0.35 million.

Institutional Investors Weigh In On Evogene

Hedge funds and other institutional investors have recently bought and sold shares of the company. Citadel Advisors LLC increased its position in shares of Evogene by 169.4% during the third quarter. Citadel Advisors LLC now owns 57,575 shares of the biotechnology company’s stock worth $66,000 after purchasing an additional 36,206 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Evogene in the 4th quarter worth $25,000. Finally, Jane Street Group LLC boosted its position in shares of Evogene by 58.0% in the 1st quarter. Jane Street Group LLC now owns 33,732 shares of the biotechnology company’s stock worth $42,000 after purchasing an additional 12,387 shares in the last quarter. Hedge funds and other institutional investors own 10.40% of the company’s stock.

About Evogene

Evogene Ltd. is a biotechnology company specializing in the use of computational and predictive biology technologies to design and develop novel products for agriculture and human health. Founded in 2002 and headquartered in Rehovot, Israel, the company has built a proprietary computational platform that integrates genomics, machine learning and data analytics to identify gene targets and biological traits. Evogene’s platform serves as the backbone for its research and development efforts, enabling the discovery of enhanced crop traits, microbial solutions and microbiome-based diagnostics and therapeutics.

In the agricultural sector, Evogene applies its platform to improve crop performance across a range of parameters, including yield enhancement, stress tolerance and resistance to pests and pathogens.