Evelo Biosciences (NASDAQ:EVLO) Posts Earnings Results, Beats Expectations By $0.05 EPS

Evelo Biosciences (NASDAQ:EVLO – Get Rating) announced its quarterly earnings results on Thursday. The company reported ($0.56) EPS for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.05, MarketWatch Earnings reports.

Shares of EVLO traded down $0.22 on Friday, reaching $1.65. The company’s stock had a trading volume of 559,648 shares, compared to its average volume of 305,988. The company has a debt-to-equity ratio of 5.37, a current ratio of 4.09 and a quick ratio of 4.09. The stock has a market capitalization of $88.52 million, a P/E ratio of -0.71 and a beta of 1.75. The stock’s 50 day simple moving average is $2.89 and its two-hundred day simple moving average is $5.35. Evelo Biosciences has a 12-month low of $1.63 and a 12-month high of $17.13.

Institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA boosted its holdings in shares of Evelo Biosciences by 644.1% in the third quarter. BNP Paribas Arbitrage SA now owns 5,692 shares of the company’s stock worth $40,000 after buying an additional 4,927 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of Evelo Biosciences by 62.9% in the fourth quarter. Citigroup Inc. now owns 9,356 shares of the company’s stock worth $57,000 after buying an additional 3,614 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Evelo Biosciences by 34,145.9% in the fourth quarter. Wells Fargo & Company MN now owns 12,671 shares of the company’s stock worth $76,000 after buying an additional 12,634 shares during the last quarter. Invesco Ltd. purchased a new position in shares of Evelo Biosciences in the third quarter worth approximately $77,000. Finally, Jane Street Group LLC purchased a new position in Evelo Biosciences during the third quarter valued at approximately $79,000. 92.20% of the stock is currently owned by institutional investors.

Separately, Zacks Investment Research lowered shares of Evelo Biosciences from a “buy” rating to a “hold” rating in a research note on Wednesday, March 30th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $20.38.

About Evelo Biosciences (Get Rating)

Evelo Biosciences, Inc, a biotechnology company, discovers and develops oral biologics for the treatment of inflammatory diseases and cancer. It is developing EDP1815, a whole-microbe candidate for the treatment of inflammatory diseases; and is in Phase 2 clinical trial for the treatment of psoriasis and atopic dermatitis, as well as for the hyperinflammatory response associated with COVID-19.

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