Evolus (NASDAQ:EOLS) Reaches New 1-Year High – Here’s Why

Evolus, Inc. (NASDAQ:EOLS)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $9.15 and last traded at $9.06, with a volume of 618548 shares trading hands. The stock had previously closed at $8.88.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $13.00 target price on shares of Evolus in a research note on Tuesday, August 25th. BTIG Research reissued a “buy” rating and set a $13.00 price target on shares of Evolus in a research report on Wednesday, June 17th. Weiss Ratings raised Evolus from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 15th. Finally, Wall Street Zen upgraded Evolus from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $14.50.

Evolus Trading Up 2.4%

The business’s 50-day simple moving average is $7.04 and its 200-day simple moving average is $5.93. The company has a market cap of $600.39 million, a PE ratio of -17.48 and a beta of 1.35.

Institutional Trading of Evolus

Several hedge funds and other institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Evolus by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,289 shares of the company’s stock valued at $400,000 after purchasing an additional 1,838 shares in the last quarter. Millennium Management LLC raised its stake in shares of Evolus by 1.7% during the 1st quarter. Millennium Management LLC now owns 1,392,028 shares of the company’s stock worth $16,746,000 after purchasing an additional 23,605 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Evolus during the 1st quarter valued at about $158,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Evolus by 36.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 156,565 shares of the company’s stock valued at $1,883,000 after buying an additional 41,513 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in Evolus by 484.8% in the first quarter. Jane Street Group LLC now owns 69,947 shares of the company’s stock worth $841,000 after buying an additional 57,987 shares during the last quarter. 90.69% of the stock is currently owned by hedge funds and other institutional investors.

Evolus Company 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.