Evogene (NASDAQ:EVGN) Shares Cross Below Two Hundred Day Moving Average – What’s Next?

Evogene Ltd. (NASDAQ:EVGN) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.19 and traded as low as $1.03. Evogene shares last traded at $1.0550, with a volume of 31,891 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Evogene in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $3.50.

Evogene Stock Performance

The stock has a market cap of $5.67 million, a price-to-earnings ratio of -2.11 and a beta of 1.28. The company has a 50-day simple moving average of $1.07 and a two-hundred day simple moving average of $1.19.

Evogene (NASDAQ:EVGN) last released its earnings results on Thursday, November 20th. The biotechnology company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.10. Evogene had a negative net margin of 52.33% and a negative return on equity of 75.09%. The business had revenue of $0.31 million during the quarter, compared to analysts’ expectations of $0.65 million.

Institutional Investors Weigh In On Evogene

An institutional investor recently raised its position in Evogene stock. Jane Street Group LLC boosted its position in Evogene Ltd. (NASDAQ:EVGN) by 58.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 33,732 shares of the biotechnology company’s stock after purchasing an additional 12,387 shares during the period. Jane Street Group LLC owned about 0.63% of Evogene worth $42,000 as of its most recent filing with the SEC. 10.40% of the stock is currently owned by institutional investors and hedge funds.

Evogene Company Profile

Evogene Ltd. is a biotechnology company specializing in the use of computational and predictive biology technologies to design and develop novel products for agriculture and human health. Founded in 2002 and headquartered in Rehovot, Israel, the company has built a proprietary computational platform that integrates genomics, machine learning and data analytics to identify gene targets and biological traits. Evogene’s platform serves as the backbone for its research and development efforts, enabling the discovery of enhanced crop traits, microbial solutions and microbiome-based diagnostics and therapeutics.

In the agricultural sector, Evogene applies its platform to improve crop performance across a range of parameters, including yield enhancement, stress tolerance and resistance to pests and pathogens.