Pinnacle Associates Ltd. Boosts Stake in Evolus, Inc. $EOLS

Pinnacle Associates Ltd. lifted its holdings in Evolus, Inc. (NASDAQ:EOLS) by 15.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 782,365 shares of the company’s stock after buying an additional 107,490 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Evolus were worth $5,203,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Divisadero Street Capital Management LP purchased a new stake in shares of Evolus in the third quarter valued at approximately $2,384,000. American Assets Inc. purchased a new stake in shares of Evolus in the third quarter valued at approximately $768,000. HighVista Strategies LLC boosted its stake in shares of Evolus by 289.4% in the third quarter. HighVista Strategies LLC now owns 226,025 shares of the company’s stock valued at $1,388,000 after buying an additional 167,983 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Evolus in the third quarter valued at approximately $62,000. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Evolus in the third quarter valued at approximately $26,000. 90.69% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Rui Avelar sold 29,996 shares of the business’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $4.89, for a total value of $146,680.44. Following the completion of the transaction, the insider directly owned 430,542 shares of the company’s stock, valued at $2,105,350.38. The trade was a 6.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider David Moatazedi sold 116,720 shares of the business’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $4.89, for a total value of $570,760.80. Following the completion of the transaction, the insider directly owned 618,369 shares of the company’s stock, valued at approximately $3,023,824.41. This trade represents a 15.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 163,504 shares of company stock valued at $797,184. Insiders own 5.00% of the company’s stock.

Analyst Ratings Changes

EOLS has been the topic of a number of research analyst reports. Mizuho set a $15.00 target price on Evolus in a research report on Wednesday, February 4th. HC Wainwright decreased their target price on Evolus from $20.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, February 3rd. Wall Street Zen downgraded Evolus from a “buy” rating to a “hold” rating in a research report on Sunday, March 15th. BTIG Research reiterated a “buy” rating and set a $13.00 target price on shares of Evolus in a research report on Wednesday, March 4th. Finally, Weiss Ratings upgraded Evolus from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $16.00.

Evolus Stock Performance

EOLS opened at $6.50 on Friday. The business’s fifty day moving average is $5.04 and its two-hundred day moving average is $5.62. The company has a market cap of $428.09 million, a price-to-earnings ratio of -9.70 and a beta of 1.28. Evolus, Inc. has a one year low of $3.86 and a one year high of $10.62.

Evolus (NASDAQ:EOLS) last posted its earnings results on Monday, May 4th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.02). The business had revenue of $73.14 million during the quarter, compared to the consensus estimate of $72.52 million. During the same quarter last year, the firm posted ($0.30) EPS. On average, analysts predict that Evolus, Inc. will post -0.41 EPS for the current fiscal year.

Evolus Profile

Evolus, Inc is a specialty pharmaceutical company focused on medical aesthetics. Headquartered in Newport Beach, California, Evolus develops and commercializes products designed to enhance facial appearance through minimally invasive procedures. Since its founding in 2017, the company has positioned itself in the fast-growing aesthetic market by partnering with leading manufacturers and leveraging clinical expertise to bring innovative injectables to practitioners and patients.

The company’s flagship offering, Jeuveau (prabotulinumtoxinA-xvfs), is a neuromodulator approved by the U.S.