Evogene (NASDAQ:EVGN) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Evogene (NASDAQ:EVGN) in a report issued on Wednesday morning. The brokerage issued a sell rating on the biotechnology company’s stock.

Evogene Price Performance

EVGN opened at $0.67 on Wednesday. Evogene has a fifty-two week low of $0.45 and a fifty-two week high of $1.44. The firm’s fifty day moving average price is $0.79 and its two-hundred day moving average price is $0.74. The company has a market capitalization of $27.60 million, a P/E ratio of -1.26 and a beta of 1.49.

Evogene (NASDAQ:EVGN) last issued its earnings results on Thursday, March 7th. The biotechnology company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.01. The company had revenue of $0.58 million for the quarter, compared to the consensus estimate of $1.73 million. Evogene had a negative net margin of 423.39% and a negative return on equity of 76.93%. During the same quarter in the previous year, the company earned ($0.07) EPS.

Institutional Trading of Evogene

A hedge fund recently raised its stake in Evogene stock. Silverarc Capital Management LLC boosted its position in shares of Evogene Ltd. (NASDAQ:EVGN) by 3,000.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,100,000 shares of the biotechnology company’s stock after purchasing an additional 3,000,000 shares during the quarter. Silverarc Capital Management LLC owned about 7.52% of Evogene worth $1,818,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 10.40% of the company’s stock.

About Evogene

Evogene Ltd., together with its subsidiaries, operates as a computational biology company. It focuses on product discovery and development in life-science based industries, including human health and agriculture, through the use of its Computational Predictive Biology (CPB) platform. The company operates through three segments: Agriculture, Human Health, and Industrial Applications.