Comerica Bank Purchases New Stake in Evolus, Inc. (NASDAQ:EOLS)

Comerica Bank purchased a new stake in Evolus, Inc. (NASDAQ:EOLS) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 28,301 shares of the company’s stock, valued at approximately $312,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Tri Locum Partners LP bought a new stake in Evolus during the fourth quarter valued at $8,198,000. Gilder Gagnon Howe & Co. LLC increased its stake in Evolus by 287.2% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 702,239 shares of the company’s stock valued at $7,753,000 after purchasing an additional 520,859 shares during the last quarter. Altium Capital Management LLC increased its stake in Evolus by 93.0% during the fourth quarter. Altium Capital Management LLC now owns 685,000 shares of the company’s stock valued at $7,562,000 after purchasing an additional 330,000 shares during the last quarter. Nantahala Capital Management LLC increased its stake in Evolus by 10.8% during the fourth quarter. Nantahala Capital Management LLC now owns 3,130,149 shares of the company’s stock valued at $34,557,000 after purchasing an additional 305,300 shares during the last quarter. Finally, Boothbay Fund Management LLC increased its stake in Evolus by 30.9% during the fourth quarter. Boothbay Fund Management LLC now owns 1,287,767 shares of the company’s stock valued at $14,217,000 after purchasing an additional 304,065 shares during the last quarter. 90.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on EOLS shares. HC Wainwright reiterated a “buy” rating and set a $27.00 target price on shares of Evolus in a research note on Thursday, April 10th. Barclays boosted their target price on shares of Evolus from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. BTIG Research assumed coverage on shares of Evolus in a research report on Thursday, April 17th. They set a “buy” rating and a $21.00 price target for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $22.00 price target on shares of Evolus in a research report on Thursday, May 8th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Evolus has an average rating of “Buy” and a consensus price target of $23.75.

Evolus Stock Down 3.0%

Evolus stock opened at $9.70 on Friday. The company has a 50-day simple moving average of $11.32 and a 200-day simple moving average of $12.37. The firm has a market capitalization of $625.42 million, a P/E ratio of -10.66 and a beta of 1.11. The company has a debt-to-equity ratio of 20.58, a quick ratio of 2.23 and a current ratio of 2.47. Evolus, Inc. has a one year low of $8.67 and a one year high of $17.82.

Insider Transactions at Evolus

In related news, Director Karah Herdman Parschauer sold 12,888 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $12.99, for a total value of $167,415.12. Following the completion of the transaction, the director now owns 32,183 shares in the company, valued at $418,057.17. This represents a 28.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Sandra Beaver sold 6,494 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $10.02, for a total transaction of $65,069.88. Following the completion of the transaction, the chief financial officer now owns 167,089 shares of the company’s stock, valued at $1,674,231.78. This represents a 3.74% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,241 shares of company stock worth $1,048,666. Insiders own 5.90% of the company’s stock.

Evolus Company Profile

Evolus, Inc, a performance beauty company, focuses on delivering products in the cash-pay aesthetic market in the United States, Canada, and Europe. The company offers Jeuveau, a proprietary 900 kilodalton purified botulinum toxin type A formulation for the temporary improvement in the appearance of moderate to severe glabellar lines in adults.