Evogene (NASDAQ:EVGN) Shares Cross Below 200 Day Moving Average – Should You Sell?

Evogene Ltd. (NASDAQ:EVGN) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.16 and traded as low as $0.9114. Evogene shares last traded at $0.96, with a volume of 87,509 shares changing hands.

Evogene Stock Performance

The firm’s 50-day moving average is $1.05 and its two-hundred day moving average is $1.16. The stock has a market cap of $5.16 million, a P/E ratio of -1.92 and a beta of 1.35.

Evogene (NASDAQ:EVGN) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $0.65 million. Evogene had a negative return on equity of 75.09% and a negative net margin of 52.33%.

Institutional Investors Weigh In On Evogene

A hedge fund recently raised its stake in Evogene stock. Citadel Advisors LLC boosted its holdings in Evogene Ltd. (NASDAQ:EVGN) by 169.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 57,575 shares of the biotechnology company’s stock after buying an additional 36,206 shares during the period. Citadel Advisors LLC owned approximately 1.07% of Evogene worth $66,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 10.40% of the company’s stock.

About Evogene

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.