Evelo Biosciences, Inc. (NASDAQ:EVLO) Expected to Post Earnings of -$0.53 Per Share

Equities research analysts expect Evelo Biosciences, Inc. (NASDAQ:EVLO) to post earnings of ($0.53) per share for the current quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Evelo Biosciences’ earnings, with the highest EPS estimate coming in at ($0.45) and the lowest estimate coming in at ($0.60). Evelo Biosciences reported earnings per share of ($0.45) in the same quarter last year, which suggests a negative year over year growth rate of 17.8%. The company is scheduled to report its next earnings results on Thursday, November 4th.

According to Zacks, analysts expect that Evelo Biosciences will report full-year earnings of ($2.24) per share for the current fiscal year, with EPS estimates ranging from ($2.27) to ($2.20). For the next year, analysts anticipate that the company will report earnings of ($2.01) per share, with EPS estimates ranging from ($2.20) to ($1.91). Zacks’ EPS averages are an average based on a survey of research analysts that follow Evelo Biosciences.

Evelo Biosciences (NASDAQ:EVLO) last announced its quarterly earnings data on Wednesday, July 28th. The company reported ($0.53) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.01.

Several equities analysts recently issued reports on the company. JMP Securities raised their price target on Evelo Biosciences from $36.00 to $38.00 and gave the stock a “market outperform” rating in a research report on Wednesday, June 23rd. Cantor Fitzgerald started coverage on Evelo Biosciences in a research report on Wednesday, June 23rd. They issued an “overweight” rating and a $28.00 price objective on the stock. Chardan Capital cut their price objective on Evelo Biosciences from $15.00 to $12.00 and set a “neutral” rating on the stock in a research report on Friday, July 30th. Finally, Zacks Investment Research lowered Evelo Biosciences from a “buy” rating to a “hold” rating in a research report on Thursday, July 29th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Evelo Biosciences presently has an average rating of “Buy” and a consensus price target of $20.33.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board purchased a new position in Evelo Biosciences during the first quarter valued at $268,000. Amundi Asset Management US Inc. purchased a new position in shares of Evelo Biosciences in the first quarter worth $347,000. Federated Hermes Inc. raised its stake in shares of Evelo Biosciences by 260,818.5% in the first quarter. Federated Hermes Inc. now owns 70,448 shares of the company’s stock worth $754,000 after purchasing an additional 70,421 shares during the last quarter. Millennium Management LLC raised its stake in shares of Evelo Biosciences by 212.8% in the first quarter. Millennium Management LLC now owns 124,808 shares of the company’s stock worth $1,335,000 after purchasing an additional 84,906 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in Evelo Biosciences during the first quarter valued at $28,000. Institutional investors own 85.44% of the company’s stock.

NASDAQ EVLO traded up $0.21 during trading hours on Wednesday, hitting $6.99. The company had a trading volume of 30,320 shares, compared to its average volume of 217,665. Evelo Biosciences has a 52 week low of $3.82 and a 52 week high of $19.93. The firm has a 50 day simple moving average of $10.28 and a 200 day simple moving average of $11.66. The company has a debt-to-equity ratio of 0.75, a quick ratio of 6.38 and a current ratio of 6.38. The firm has a market capitalization of $373.25 million, a price-to-earnings ratio of -3.36 and a beta of 1.29.

Evelo Biosciences Company Profile

Evelo Biosciences, Inc operates as a clinical stage biotechnology company, which engages in the development of orally delivered investigational medicines. Its portfolio includes EDP1066 and EDP1815 for the treatment of inflammatory diseases; EDP2939 for inflammation; and EDP1908 for oncology. The company was founded by Noubar B.

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Earnings History and Estimates for Evelo Biosciences (NASDAQ:EVLO)

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