Short Interest in Evogene Ltd. (NASDAQ:EVGN) Drops By 30.7%

Evogene Ltd. (NASDAQ:EVGN) saw a large decline in short interest during the month of December. As of December 15th, there was short interest totaling 49,723 shares, a decline of 30.7% from the November 30th total of 71,799 shares. Currently, 1.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 41,656 shares, the days-to-cover ratio is presently 1.2 days. Based on an average daily trading volume, of 41,656 shares, the days-to-cover ratio is presently 1.2 days. Currently, 1.0% of the shares of the stock are short sold.

Evogene Trading Down 1.8%

Evogene stock traded down $0.02 during mid-day trading on Tuesday, hitting $0.95. The stock had a trading volume of 48,718 shares, compared to its average volume of 584,451. Evogene has a one year low of $0.95 and a one year high of $2.42. The firm’s 50 day moving average is $1.14 and its 200 day moving average is $1.24. The firm has a market capitalization of $5.11 million, a P/E ratio of -1.91 and a beta of 1.37.

Evogene (NASDAQ:EVGN) last posted its earnings results on Thursday, November 20th. The biotechnology company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.10. The firm had revenue of $0.31 million during the quarter, compared to the consensus estimate of $0.65 million. Evogene had a negative return on equity of 75.09% and a negative net margin of 52.33%.

Institutional Trading of Evogene

Several institutional investors have recently added to or reduced their stakes in the company. Armistice Capital LLC grew its position in Evogene by 5.9% in the 1st quarter. Armistice Capital LLC now owns 316,024 shares of the biotechnology company’s stock valued at $395,000 after acquiring an additional 17,743 shares during the last quarter. Citadel Advisors LLC grew its position in shares of Evogene by 169.4% in the 3rd quarter. Citadel Advisors LLC now owns 57,575 shares of the biotechnology company’s stock worth $66,000 after buying an additional 36,206 shares during the last quarter. Finally, Jane Street Group LLC increased its position in shares of Evogene by 58.0% during the first quarter. Jane Street Group LLC now owns 33,732 shares of the biotechnology company’s stock worth $42,000 after purchasing an additional 12,387 shares in the last quarter. Institutional investors own 10.40% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Evogene in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $3.50.

Evogene Company Profile

Evogene Ltd. is a biotechnology company specializing in the use of computational and predictive biology technologies to design and develop novel products for agriculture and human health. Founded in 2002 and headquartered in Rehovot, Israel, the company has built a proprietary computational platform that integrates genomics, machine learning and data analytics to identify gene targets and biological traits. Evogene’s platform serves as the backbone for its research and development efforts, enabling the discovery of enhanced crop traits, microbial solutions and microbiome-based diagnostics and therapeutics.

In the agricultural sector, Evogene applies its platform to improve crop performance across a range of parameters, including yield enhancement, stress tolerance and resistance to pests and pathogens.