Short Interest in Evogene Ltd. (NASDAQ:EVGN) Decreases By 28.8%

Evogene Ltd. (NASDAQ:EVGN) was the recipient of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 180,400 shares, a decrease of 28.8% from the October 15th total of 253,400 shares. Based on an average trading volume of 143,000 shares, the short-interest ratio is presently 1.3 days.

Evogene Stock Up 2.3 %

Shares of Evogene stock opened at $0.57 on Monday. The firm has a market cap of $23.30 million, a PE ratio of -1.03 and a beta of 1.38. Evogene has a 12-month low of $0.45 and a 12-month high of $1.44. The company’s fifty day simple moving average is $0.59 and its two-hundred day simple moving average is $0.75.

Evogene (NASDAQ:EVGN) last announced its earnings results on Thursday, August 17th. The biotechnology company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.02. The firm had revenue of $0.65 million for the quarter, compared to analyst estimates of $0.77 million. Evogene had a negative net margin of 943.25% and a negative return on equity of 68.84%. During the same quarter in the previous year, the firm posted ($0.21) EPS. As a group, sell-side analysts expect that Evogene will post -0.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Evogene

A number of large investors have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its stake in Evogene by 51.8% during the first quarter. Renaissance Technologies LLC now owns 459,081 shares of the biotechnology company’s stock worth $597,000 after acquiring an additional 156,716 shares in the last quarter. Silverarc Capital Management LLC bought a new stake in Evogene during the second quarter worth about $107,000. Bank of America Corp DE boosted its stake in Evogene by 49.7% during the first quarter. Bank of America Corp DE now owns 204,521 shares of the biotechnology company’s stock worth $265,000 after acquiring an additional 67,867 shares in the last quarter. Virtu Financial LLC bought a new stake in Evogene during the first quarter worth about $48,000. Finally, Vident Investment Advisory LLC raised its holdings in Evogene by 68.5% in the first quarter. Vident Investment Advisory LLC now owns 83,868 shares of the biotechnology company’s stock worth $109,000 after buying an additional 34,082 shares during the last quarter. Institutional investors own 1.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on EVGN. Lake Street Capital raised their price objective on shares of Evogene from $2.00 to $3.00 and gave the stock a “buy” rating in a report on Friday, August 18th. StockNews.com raised shares of Evogene to a “sell” rating in a report on Thursday, October 26th. Roth Mkm raised their price objective on shares of Evogene from $1.00 to $6.00 and gave the stock a “buy” rating in a report on Friday, July 21st. Finally, Alliance Global Partners started coverage on shares of Evogene in a report on Monday, October 2nd. They issued a “buy” rating and a $1.85 price objective for the company.

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.