Evofem Biosciences Inc (NASDAQ:EVFM) was the target of a large increase in short interest in January. As of January 31st, there was short interest totalling 797,900 shares, an increase of 7.7% from the January 15th total of 740,600 shares. Currently, 2.5% of the company’s stock are short sold. Based on an average daily volume of 89,500 shares, the days-to-cover ratio is presently 8.9 days.
A number of analysts recently issued reports on EVFM shares. HC Wainwright reissued a “buy” rating and set a $11.00 target price on shares of Evofem Biosciences in a research note on Wednesday, December 18th. Zacks Investment Research downgraded Evofem Biosciences from a “buy” rating to a “hold” rating in a research report on Tuesday, February 4th. Finally, ValuEngine raised Evofem Biosciences from a “sell” rating to a “hold” rating in a research report on Monday, December 16th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $9.19.
NASDAQ:EVFM traded up $0.28 during trading hours on Friday, reaching $5.65. 41,407 shares of the stock were exchanged. Evofem Biosciences has a twelve month low of $3.19 and a twelve month high of $7.50. The firm has a 50 day moving average of $5.55 and a 200 day moving average of $5.47.
Large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp bought a new position in Evofem Biosciences in the second quarter valued at about $215,000. Northern Trust Corp grew its position in Evofem Biosciences by 112.4% in the second quarter. Northern Trust Corp now owns 72,709 shares of the biotechnology company’s stock valued at $483,000 after acquiring an additional 38,472 shares during the last quarter. BlackRock Inc. grew its position in Evofem Biosciences by 5,199.0% in the second quarter. BlackRock Inc. now owns 738,420 shares of the biotechnology company’s stock valued at $4,903,000 after acquiring an additional 724,485 shares during the last quarter. Vanguard Group Inc. grew its position in Evofem Biosciences by 116.7% in the second quarter. Vanguard Group Inc. now owns 658,091 shares of the biotechnology company’s stock valued at $4,370,000 after acquiring an additional 354,408 shares during the last quarter. Finally, State Street Corp grew its position in Evofem Biosciences by 11.2% in the third quarter. State Street Corp now owns 210,293 shares of the biotechnology company’s stock valued at $1,060,000 after acquiring an additional 21,208 shares during the last quarter. 55.44% of the stock is owned by hedge funds and other institutional investors.
About Evofem Biosciences
Evofem Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes women's sexual and reproductive health products. Its lead product candidate is Amphora, a non-hormonal woman-controlled vaginal gel, which is in Phase 3 clinical trial for the prevention of pregnancy; and in Phase 2b trial for the prevention of chlamydia and gonorrhea in women.
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