StockNews.com Begins Coverage on Evogene (NASDAQ:EVGN)

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

Evogene Stock Performance

NASDAQ EVGN opened at $0.71 on Thursday. The stock’s 50-day moving average is $0.78 and its two-hundred day moving average is $0.74. Evogene has a fifty-two week low of $0.45 and a fifty-two week high of $1.44.

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

Institutional Investors Weigh In On Evogene

An institutional investor recently raised its position in Evogene stock. BNP Paribas Financial Markets lifted its stake in Evogene Ltd. (NASDAQ:EVGN) by 30.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 91,400 shares of the biotechnology company’s stock after buying an additional 21,500 shares during the period. BNP Paribas Financial Markets owned about 0.22% of Evogene worth $69,000 at the end of the most recent reporting period. 10.40% of the stock is owned by hedge funds and other institutional investors.

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.