Evoke Pharma, Inc. (NASDAQ:EVOK) Sees Large Increase in Short Interest

Evoke Pharma, Inc. (NASDAQ:EVOK) was the recipient of a significant growth in short interest in December. As of December 15th, there was short interest totaling 10,911 shares, a growth of 56.2% from the November 30th total of 6,987 shares. Approximately 0.6% of the shares of the company are sold short. Based on an average daily volume of 27,579 shares, the short-interest ratio is currently 0.4 days. Based on an average daily volume of 27,579 shares, the short-interest ratio is currently 0.4 days. Approximately 0.6% of the shares of the company are sold short.

Insiders Place Their Bets

In other Evoke Pharma news, major shareholder Roger M. Klein sold 9,000 shares of Evoke Pharma stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $10.65, for a total value of $95,850.00. Following the sale, the insider owned 29,000 shares of the company’s stock, valued at approximately $308,850. The trade was a 23.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.29% of the company’s stock.

Hedge Funds Weigh In On Evoke Pharma

A hedge fund recently bought a new stake in Evoke Pharma stock. National Wealth Management Group LLC purchased a new stake in Evoke Pharma, Inc. (NASDAQ:EVOK) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 80,130 shares of the specialty pharmaceutical company’s stock, valued at approximately $398,000. National Wealth Management Group LLC owned approximately 5.14% of Evoke Pharma at the end of the most recent reporting period.

Analyst Upgrades and Downgrades

Several analysts have recently commented on EVOK shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Evoke Pharma in a report on Monday, December 15th. Laidlaw lowered shares of Evoke Pharma from a “buy” rating to a “hold” rating in a research report on Thursday, November 6th. Finally, Wall Street Zen raised shares of Evoke Pharma to a “hold” rating in a research note on Saturday, December 20th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce”.

Evoke Pharma Price Performance

NASDAQ EVOK opened at $11.00 on Wednesday. The business has a 50 day moving average price of $9.78 and a 200 day moving average price of $6.44. The company has a market capitalization of $18.92 million, a P/E ratio of -5.31 and a beta of -0.15. Evoke Pharma has a 1-year low of $1.94 and a 1-year high of $11.00.

Evoke Pharma (NASDAQ:EVOK) last posted its earnings results on Thursday, November 13th. The specialty pharmaceutical company reported ($0.45) earnings per share for the quarter, meeting the consensus estimate of ($0.45). Evoke Pharma had a negative return on equity of 101.40% and a negative net margin of 36.23%.The company had revenue of $4.28 million for the quarter, compared to analyst estimates of $4.33 million.

Evoke Pharma Company Profile

Evoke Pharma, Inc is a clinical-stage specialty pharmaceutical company focused on developing novel therapies for gastrointestinal (GI) motility disorders. The company’s lead product candidate, relamorelin, is a selective ghrelin receptor agonist designed to restore gastric motility and accelerate gastric emptying in conditions such as diabetic gastroparesis. Relamorelin has been granted orphan drug designation by the U.S. Food and Drug Administration and has demonstrated proof-of-concept activity in multiple clinical trials, positioning it as a promising treatment for patients with impaired GI function.

In addition to relamorelin, Evoke Pharma is advancing earlier-stage programs targeting metabolic and GI conditions, leveraging its expertise in peptide chemistry and receptor pharmacology.