Evelo Biosciences, Inc. Forecasted to Post FY2022 Earnings of ($1.36) Per Share (NASDAQ:EVLO)

Evelo Biosciences, Inc. (NASDAQ:EVLOGet Rating) – Equities researchers at Jefferies Financial Group upped their FY2022 earnings per share estimates for shares of Evelo Biosciences in a research report issued on Wednesday, November 16th. Jefferies Financial Group analyst C. Howerton now forecasts that the company will earn ($1.36) per share for the year, up from their prior estimate of ($1.73). The consensus estimate for Evelo Biosciences’ current full-year earnings is ($1.56) per share. Jefferies Financial Group also issued estimates for Evelo Biosciences’ Q4 2022 earnings at ($0.28) EPS, FY2023 earnings at ($1.64) EPS, FY2024 earnings at ($1.27) EPS, FY2025 earnings at ($1.08) EPS and FY2026 earnings at ($0.69) EPS.

A number of other equities analysts have also recently commented on the company. Morgan Stanley lowered their target price on Evelo Biosciences from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Friday, September 9th. Chardan Capital cut Evelo Biosciences from a “buy” rating to a “neutral” rating and set a $2.50 target price for the company. in a report on Wednesday.

Evelo Biosciences Stock Performance

NASDAQ EVLO opened at $2.05 on Friday. The stock has a fifty day simple moving average of $2.07 and a 200-day simple moving average of $2.18. Evelo Biosciences has a twelve month low of $1.42 and a twelve month high of $10.07. The stock has a market cap of $221.39 million, a PE ratio of -1.15 and a beta of 1.39. The company has a current ratio of 2.69, a quick ratio of 4.52 and a debt-to-equity ratio of 3.93.

Hedge Funds Weigh In On Evelo Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the company. Walleye Capital LLC acquired a new stake in Evelo Biosciences in the 1st quarter valued at about $38,000. Cresset Asset Management LLC raised its position in Evelo Biosciences by 200.0% in the 1st quarter. Cresset Asset Management LLC now owns 30,000 shares of the company’s stock valued at $102,000 after purchasing an additional 20,000 shares in the last quarter. AE Wealth Management LLC raised its position in Evelo Biosciences by 78.2% in the 2nd quarter. AE Wealth Management LLC now owns 56,029 shares of the company’s stock valued at $118,000 after purchasing an additional 24,592 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in Evelo Biosciences in the 1st quarter valued at about $247,000. Finally, State Street Corp raised its position in Evelo Biosciences by 20.9% in the 3rd quarter. State Street Corp now owns 113,858 shares of the company’s stock valued at $238,000 after purchasing an additional 19,700 shares in the last quarter. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Evelo Biosciences Company Profile

(Get Rating)

Evelo Biosciences, Inc, a biotechnology company, discovers and develops oral biologics for the treatment of inflammatory diseases and cancer. It is developing EDP1815, a whole-microbe candidate for the treatment of inflammatory diseases; and is in Phase 2 clinical trial for the treatment of psoriasis and atopic dermatitis, as well as for the hyperinflammatory response associated with COVID-19.

Further Reading

Earnings History and Estimates for Evelo Biosciences (NASDAQ:EVLO)

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