Evogene (NASDAQ:EVGN) Coverage Initiated at StockNews.com

Analysts at StockNews.com began coverage on shares of Evogene (NASDAQ:EVGN) in a research note issued to investors on Tuesday. The firm set a “sell” rating on the biotechnology company’s stock.

Evogene Stock Performance

Evogene stock opened at $0.69 on Tuesday. The stock has a market cap of $28.29 million, a PE ratio of -1.29 and a beta of 1.49. Evogene has a one year low of $0.45 and a one year high of $1.44. The stock has a fifty day moving average of $0.81 and a 200 day moving average of $0.73.

Evogene (NASDAQ:EVGN) last released its quarterly earnings results on Thursday, March 7th. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.01. Evogene had a negative return on equity of 76.93% and a negative net margin of 423.39%. The business had revenue of $0.58 million during the quarter, compared to analyst estimates of $1.73 million. During the same quarter in the previous year, the company posted ($0.07) earnings per share.

Hedge Funds Weigh In On Evogene

Hedge funds have recently made changes to their positions in the business. Silverarc Capital Management LLC lifted its position in shares of Evogene by 3,000.0% in the third quarter. Silverarc Capital Management LLC now owns 3,100,000 shares of the biotechnology company’s stock worth $1,818,000 after buying an additional 3,000,000 shares in the last quarter. Walleye Capital LLC purchased a new stake in Evogene during the third quarter valued at approximately $303,000. Renaissance Technologies LLC raised its position in Evogene by 51.8% during the first quarter. Renaissance Technologies LLC now owns 459,081 shares of the biotechnology company’s stock valued at $597,000 after purchasing an additional 156,716 shares during the period. Bank of America Corp DE raised its position 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 valued at $265,000 after purchasing an additional 67,867 shares during the period. Finally, Vident Investment Advisory LLC raised its position in Evogene by 68.5% during the first quarter. Vident Investment Advisory LLC now owns 83,868 shares of the biotechnology company’s stock valued at $109,000 after purchasing an additional 34,082 shares during the period. Institutional investors own 10.40% of the company’s stock.

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.