Evolus, Inc. (NASDAQ:EOLS) Short Interest Down 20.8% in August

Evolus, Inc. (NASDAQ:EOLS) was the target of a significant decrease in short interest during the month of August. As of August 15th, there was short interest totaling 10,680,000 shares, a decrease of 20.8% from the July 31st total of 13,480,000 shares. Based on an average daily trading volume, of 1,420,000 shares, the short-interest ratio is currently 7.5 days. Currently, 21.1% of the shares of the company are short sold. Currently, 21.1% of the shares of the company are short sold. Based on an average daily trading volume, of 1,420,000 shares, the short-interest ratio is currently 7.5 days.

Insider Buying and Selling at Evolus

In other Evolus news, Director Brady Stewart bought 30,000 shares of Evolus stock in a transaction on Friday, August 15th. The stock was acquired at an average cost of $6.82 per share, with a total value of $204,600.00. Following the completion of the acquisition, the director owned 88,629 shares in the company, valued at approximately $604,449.78. This represents a 51.17% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Tomoko Yamagishi-Dressler sold 5,722 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $7.51, for a total transaction of $42,972.22. Following the sale, the chief marketing officer directly owned 89,949 shares of the company’s stock, valued at approximately $675,516.99. This represents a 5.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 133,627 shares of company stock valued at $1,325,764. Insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Evolus

Several institutional investors have recently bought and sold shares of EOLS. Frazier Life Sciences Management L.P. purchased a new position in Evolus during the second quarter valued at $22,431,000. Soleus Capital Management L.P. grew its stake in Evolus by 96.4% during the second quarter. Soleus Capital Management L.P. now owns 2,119,000 shares of the company’s stock valued at $19,516,000 after acquiring an additional 1,039,842 shares in the last quarter. Nuveen LLC purchased a new position in Evolus during the first quarter valued at $12,330,000. Pinnacle Associates Ltd. purchased a new position in Evolus during the second quarter valued at $6,318,000. Finally, First Light Asset Management LLC purchased a new position in Evolus during the second quarter valued at $4,795,000. 90.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. HC Wainwright reduced their target price on shares of Evolus from $27.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Needham & Company LLC reissued a “hold” rating and issued a $22.00 price objective on shares of Evolus in a research note on Wednesday, August 6th. Wall Street Zen cut shares of Evolus from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Finally, BTIG Research reissued a “buy” rating and issued a $18.00 price objective on shares of Evolus in a research note on Monday. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Evolus has a consensus rating of “Moderate Buy” and an average target price of $21.25.

Evolus Stock Performance

EOLS opened at $7.35 on Thursday. The stock has a market capitalization of $475.40 million, a price-to-earnings ratio of -7.50 and a beta of 1.07. The company has a fifty day moving average of $8.15 and a 200 day moving average of $10.05. Evolus has a fifty-two week low of $5.71 and a fifty-two week high of $17.82. The company has a debt-to-equity ratio of 22.00, a quick ratio of 1.86 and a current ratio of 2.27.

About Evolus

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.