Evogene (NASDAQ:EVGN) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Evogene (NASDAQ:EVGN) in a research note released on Thursday morning. The firm issued a sell rating on the biotechnology company’s stock.

Evogene Stock Performance

Evogene stock opened at $0.71 on Thursday. The company’s 50 day moving average is $0.78 and its two-hundred day moving average is $0.74. Evogene has a 52-week low of $0.45 and a 52-week high of $1.44.

Evogene (NASDAQ:EVGN) last announced its quarterly earnings data on Thursday, March 7th. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.01. The business had revenue of $0.58 million during the quarter, compared to analysts’ expectations of $1.73 million. Evogene had a negative return on equity of 76.93% and a negative net margin of 423.39%. During the same quarter last year, the business posted ($0.07) EPS.

Hedge Funds Weigh In On Evogene

An institutional investor recently raised its position in Evogene stock. Silverarc Capital Management LLC increased its holdings in shares of Evogene Ltd. (NASDAQ:EVGN) by 3,000.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,100,000 shares of the biotechnology company’s stock after purchasing an additional 3,000,000 shares during the period. Silverarc Capital Management LLC owned 7.52% of Evogene worth $1,818,000 as of its most recent SEC filing. Institutional investors and hedge funds own 10.40% of the company’s stock.

About Evogene

Evogene Ltd., together with its subsidiaries, operates as a computational biology company. It focuses on product discovery and development in life-science based industries, including human health and agriculture, through the use of its Computational Predictive Biology (CPB) platform. The company operates through three segments: Agriculture, Human Health, and Industrial Applications.