Evogene (NASDAQ:EVGN) Stock Price Passes Above 50-Day Moving Average – What’s Next?

Shares of Evogene Ltd. (NASDAQ:EVGN) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $0.58 and traded as high as $0.6080. Evogene shares last traded at $0.5848, with a volume of 378,670 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Evogene in a research report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Evogene currently has a consensus rating of “Moderate Buy”.

Evogene Trading Up 7.6%

The firm has a market capitalization of $5.48 million, a price-to-earnings ratio of -0.45 and a beta of 1.40. The company’s 50 day moving average is $0.58 and its 200-day moving average is $0.79.

Evogene (NASDAQ:EVGN) last announced its quarterly earnings results on Saturday, May 16th. The biotechnology company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.33). Evogene had a negative return on equity of 158.82% and a negative net margin of 638.12%.The business had revenue of $0.33 million for the quarter, compared to analyst estimates of $0.35 million.

Hedge Funds Weigh In On Evogene

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC boosted its holdings in shares of Evogene by 169.4% during 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 period. XTX Topco Ltd bought a new position in Evogene in the 4th quarter valued at about $25,000. Finally, Jane Street Group LLC lifted its position in 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 acquiring an additional 12,387 shares during the last quarter. 10.40% of the stock is owned by institutional investors.

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.