Evogene (NASDAQ:EVGN) Earns Sell Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Evogene (NASDAQ:EVGN) in a research note released on Wednesday. The firm issued a sell rating on the biotechnology company’s stock.

Evogene Trading Down 5.0 %

Evogene stock opened at $0.63 on Wednesday. The stock has a 50-day moving average of $0.79 and a two-hundred day moving average of $0.74. Evogene has a one year low of $0.45 and a one year high of $1.44.

Evogene (NASDAQ:EVGN) last released its quarterly earnings results on Thursday, March 7th. The biotechnology company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.01. Evogene had a negative return on equity of 76.93% and a negative net margin of 423.39%. The company had revenue of $0.58 million during the quarter, compared to analysts’ expectations of $1.73 million. During the same period last year, the business posted ($0.07) earnings per share.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Evogene stock. Silverarc Capital Management LLC increased its stake in shares of Evogene Ltd. (NASDAQ:EVGN) by 3,000.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,100,000 shares of the biotechnology company’s stock after acquiring an additional 3,000,000 shares during the period. Silverarc Capital Management LLC owned about 7.52% of Evogene worth $1,818,000 as of its most recent filing with the Securities & Exchange Commission. 10.40% of the stock is currently owned by institutional investors and hedge funds.

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.