Evolus (NASDAQ:EOLS) Shares Climb 3.3% – Should You Buy?

Evolus, Inc. (NASDAQ:EOLS)’s share price was up 3.3% during mid-day trading on Wednesday. The stock traded as high as $7.57 and last traded at $7.6240. 76,061 shares were traded during mid-day trading, a decline of 92% from the average session volume of 1,004,378 shares. The stock had previously closed at $7.38.

Analysts Set New Price Targets

Several research analysts have commented on the company. HC Wainwright reaffirmed a “buy” rating and set a $13.00 price target on shares of Evolus in a research report on Tuesday, August 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Evolus in a report on Friday, September 11th. Wall Street Zen upgraded shares of Evolus from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, BTIG Research restated a “buy” rating and issued a $13.00 price objective on shares of Evolus in a research note on Wednesday, June 17th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.50.

Evolus Trading Up 0.8%

The stock has a fifty day simple moving average of $8.04 and a two-hundred day simple moving average of $6.63. The company has a market cap of $515.19 million, a PE ratio of -15.00 and a beta of 1.33.

Insider Activity

In related news, insider David Moatazedi sold 105,108 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $9.04, for a total value of $950,176.32. Following the completion of the sale, the insider owned 499,592 shares in the company, valued at $4,516,311.68. This trade represents a 17.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Nantahala Capital Management LLC purchased a new stake in shares of Evolus during the 2nd quarter worth approximately $38,878,026. BlackRock Inc. purchased a new stake in Evolus during the second quarter worth $33,595,000. Braidwell LP grew its holdings in Evolus by 1.6% in the second quarter. Braidwell LP now owns 3,155,209 shares of the company’s stock valued at $21,897,000 after purchasing an additional 50,000 shares during the last quarter. Rice Hall James & Associates LLC purchased a new position in shares of Evolus in the second quarter valued at $8,952,000. Finally, Perceptive Advisors LLC purchased a new position in shares of Evolus in the first quarter valued at $5,289,000. 90.69% of the stock is owned by hedge funds and other institutional investors.

About Evolus

Evolus, Inc is a commercial-stage medical aesthetics company focused on developing and marketing products for healthcare providers and consumers. The company’s portfolio is designed to address facial wrinkles, folds and other signs of aging through injectable aesthetic treatments.

Evolus’ flagship product is Jeuveau (prabotulinumtoxinA-xvfs), an injectable botulinum toxin approved in the United States for the temporary improvement of moderate to severe glabellar lines in adults. The company markets Jeuveau in the United States and sells the product internationally under the Nuceiva brand in certain markets.

The company has expanded beyond neuromodulators with its Evolysse collection of injectable hyaluronic acid dermal fillers, which is intended to address facial volume loss and wrinkles.