Evofem Biosciences Inc (NASDAQ:EVFM) saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 5,440,000 shares, an increase of 48.2% from the August 15th total of 3,670,000 shares. Based on an average daily volume of 4,100,000 shares, the days-to-cover ratio is currently 1.3 days.
NASDAQ:EVFM traded up $0.04 on Wednesday, hitting $2.22. The stock had a trading volume of 201,455 shares, compared to its average volume of 2,416,433. The firm’s fifty day simple moving average is $3.04 and its two-hundred day simple moving average is $4.07. Evofem Biosciences has a 1 year low of $2.03 and a 1 year high of $7.50. The stock has a market cap of $177.19 million, a P/E ratio of -1.16 and a beta of 0.28.
Evofem Biosciences (NASDAQ:EVFM) last announced its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported ($0.91) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.37) by ($0.54). Research analysts expect that Evofem Biosciences will post -1.59 EPS for the current fiscal year.
In related news, CEO Saundra L. Pelletier sold 122,500 shares of the business’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $3.26, for a total value of $399,350.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 9.40% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd bought a new stake in Evofem Biosciences during the second quarter worth about $25,000. Bank of America Corp DE raised its holdings in shares of Evofem Biosciences by 48.6% during the second quarter. Bank of America Corp DE now owns 12,065 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 3,948 shares during the last quarter. Personal CFO Solutions LLC purchased a new stake in Evofem Biosciences during the second quarter valued at approximately $36,000. Two Sigma Advisers LP purchased a new stake in Evofem Biosciences during the second quarter valued at approximately $44,000. Finally, Hancock Whitney Corp bought a new position in shares of Evofem Biosciences in the second quarter worth approximately $47,000. Hedge funds and other institutional investors own 51.45% of the company’s stock.
Evofem Biosciences Company Profile
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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