Short Interest in Evofem Biosciences, Inc. (NASDAQ:EVFM) Declines By 93.3%

Evofem Biosciences, Inc. (NASDAQ:EVFMGet Rating) was the recipient of a significant decrease in short interest in the month of April. As of April 30th, there was short interest totalling 1,190,000 shares, a decrease of 93.3% from the April 15th total of 17,790,000 shares. Based on an average daily trading volume, of 238,100 shares, the days-to-cover ratio is presently 5.0 days.

Shares of NASDAQ EVFM traded down $0.10 during mid-day trading on Wednesday, reaching $1.02. The company had a trading volume of 11,934 shares, compared to its average volume of 277,686. The stock has a market cap of $12.40 million, a PE ratio of -0.05 and a beta of 0.02. The company has a 50-day moving average price of $4.69 and a two-hundred day moving average price of $6.27. Evofem Biosciences has a 1-year low of $1.11 and a 1-year high of $21.30.

Evofem Biosciences (NASDAQ:EVFMGet Rating) last released its quarterly earnings data on Thursday, March 3rd. The biotechnology company reported ($4.95) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($3.45) by ($1.50). The company had revenue of $3.57 million during the quarter, compared to analysts’ expectations of $3.52 million. During the same period last year, the firm posted ($7.50) earnings per share. Sell-side analysts predict that Evofem Biosciences will post -9.35 earnings per share for the current fiscal year.

A number of equities analysts have recently commented on the company. Morgan Stanley raised their price objective on Evofem Biosciences from $7.95 to $8.55 and gave the stock an “underweight” rating in a report on Tuesday, April 12th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Evofem Biosciences in a report on Monday, January 31st.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Mirador Capital Partners LP grew its stake in shares of Evofem Biosciences by 530.8% in the 4th quarter. Mirador Capital Partners LP now owns 80,017 shares of the biotechnology company’s stock valued at $30,000 after purchasing an additional 67,332 shares during the period. UBS Group AG lifted its holdings in Evofem Biosciences by 441.4% during the 3rd quarter. UBS Group AG now owns 46,432 shares of the biotechnology company’s stock worth $34,000 after buying an additional 37,855 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Evofem Biosciences by 5,822.7% during the 4th quarter. JPMorgan Chase & Co. now owns 132,490 shares of the biotechnology company’s stock worth $49,000 after buying an additional 130,253 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Evofem Biosciences in the 4th quarter valued at $53,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Evofem Biosciences by 148.0% in the 3rd quarter. Goldman Sachs Group Inc. now owns 89,997 shares of the biotechnology company’s stock valued at $67,000 after purchasing an additional 53,707 shares during the period. Hedge funds and other institutional investors own 12.92% of the company’s stock.

About Evofem Biosciences (Get Rating)

Evofem Biosciences, Inc, a biopharmaceutical company, develops and commercializes various products to address unmet needs in women's sexual and reproductive health. Its commercial product is Phexxi, a vaginal gel for the prevention of pregnancy. The company is also involved in the development of EVO100, an antimicrobial vaginal gel for the prevention of urogenital transmission of Chlamydia trachomatis infection and Neisseria gonorrhoeae infection in women.

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