Evogene (NASDAQ:EVGN) Share Price Passes Above 50-Day Moving Average – Should You Sell?

Evogene Ltd. (NASDAQ:EVGN) shares crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $0.94 and traded as high as $0.97. Evogene shares last traded at $0.9347, with a volume of 575,746 shares traded.

Evogene Stock Up 10.5%

The firm has a market capitalization of $5.02 million, a price-to-earnings ratio of -0.80 and a beta of 1.36. The company has a fifty day moving average price of $0.94 and a two-hundred day moving average price of $1.09.

Evogene (NASDAQ:EVGN) last announced its earnings results on Thursday, March 5th. The biotechnology company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.35). Evogene had a negative net margin of 214.57% and a negative return on equity of 121.44%. The business had revenue of $0.31 million during the quarter, compared to analyst estimates of $0.28 million.

Institutional Investors Weigh In On Evogene

Institutional investors and hedge funds have recently made changes to their positions in the business. Citadel Advisors LLC boosted its stake in shares of Evogene by 169.4% during the third quarter. Citadel Advisors LLC now owns 57,575 shares of the biotechnology company’s stock worth $66,000 after buying an additional 36,206 shares during the period. Jane Street Group LLC increased its position in Evogene by 58.0% in the 1st quarter. Jane Street Group LLC now owns 33,732 shares of the biotechnology company’s stock valued at $42,000 after acquiring an additional 12,387 shares during the period. Finally, XTX Topco Ltd acquired a new position in Evogene in the 4th quarter valued at about $25,000. 10.40% of the stock is owned by hedge funds and other institutional investors.

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.