OvaScience Inc. (OVAS) Sees Significant Decline in Short Interest
OvaScience Inc. (NASDAQ:OVAS) was the recipient of a significant decline in short interest in July. As of July 31st, there was short interest totalling 3,328,895 shares, a decline of 31.0% from the July 14th total of 4,825,999 shares. Based on an average daily trading volume, of 214,957 shares, the short-interest ratio is currently 15.5 days. Currently, 10.4% of the shares of the stock are sold short.
A number of equities analysts have issued reports on the stock. Zacks Investment Research upgraded shares of OvaScience from a “sell” rating to a “hold” rating in a research report on Wednesday. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of OvaScience in a research report on Thursday, August 3rd. HC Wainwright restated a “buy” rating and set a $15.00 target price on shares of OvaScience in a research report on Friday, May 12th. Finally, Credit Suisse Group restated an “underperform” rating and set a $1.00 target price on shares of OvaScience in a research report on Tuesday, April 18th.
OvaScience (NASDAQ OVAS) opened at 1.42 on Friday. OvaScience has a 12 month low of $1.25 and a 12 month high of $8.98. The firm’s market cap is $50.67 million. The firm’s 50-day moving average is $1.55 and its 200-day moving average is $1.51.
OvaScience (NASDAQ:OVAS) last announced its quarterly earnings results on Thursday, August 3rd. The biotechnology company reported ($0.45) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.02. OvaScience had a negative return on equity of 69.13% and a negative net margin of 16,132.47%. The company had revenue of $0.08 million for the quarter, compared to the consensus estimate of $0.09 million. During the same quarter last year, the company posted ($0.62) earnings per share. The company’s revenue for the quarter was down 55.6% compared to the same quarter last year. Equities analysts expect that OvaScience will post ($1.67) earnings per share for the current year.
A number of institutional investors have recently made changes to their positions in OVAS. UBS Asset Management Americas Inc. bought a new position in shares of OvaScience during the first quarter valued at approximately $107,000. LMR Partners LLP bought a new position in shares of OvaScience during the second quarter valued at approximately $145,000. Northern Capital Management LLC increased its position in shares of OvaScience by 92.6% in the first quarter. Northern Capital Management LLC now owns 91,865 shares of the biotechnology company’s stock valued at $172,000 after buying an additional 44,175 shares during the period. Wells Fargo & Company MN increased its position in shares of OvaScience by 28.8% in the second quarter. Wells Fargo & Company MN now owns 164,283 shares of the biotechnology company’s stock valued at $256,000 after buying an additional 36,720 shares during the period. Finally, KCG Holdings Inc. bought a new position in shares of OvaScience during the first quarter valued at approximately $375,000. Institutional investors own 63.54% of the company’s stock.
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OvaScience Company Profile
OvaScience, Inc is a global fertility company. The Company is focused on the discovery, development and commercialization of fertility treatment options for women. The Company’s portfolio of fertility treatment options uses its technology, including methods to identify and isolate Egg precursor (EggPC) cells from a patient’s own ovarian tissue.
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