Begins Coverage on Evogene (NASDAQ:EVGN) assumed coverage on shares of Evogene (NASDAQ:EVGNFree Report) in a research note released on Friday. The firm issued a sell rating on the biotechnology company’s stock.

Evogene Stock Performance

NASDAQ EVGN traded up $0.01 during trading on Friday, hitting $0.70. 40,124 shares of the company’s stock traded hands, compared to its average volume of 148,253. The stock has a market capitalization of $28.85 million, a price-to-earnings ratio of -1.25 and a beta of 1.47. Evogene has a 12-month low of $0.45 and a 12-month high of $1.44. The business has a 50 day moving average of $0.75 and a 200-day moving average of $0.75.

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

Hedge Funds Weigh In On Evogene

A hedge fund recently raised its stake in Evogene stock. Silverarc Capital Management LLC lifted its position in Evogene Ltd. (NASDAQ:EVGNFree Report) by 3,000.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,100,000 shares of the biotechnology company’s stock after purchasing an additional 3,000,000 shares during the quarter. Silverarc Capital Management LLC owned about 7.52% of Evogene worth $1,818,000 at the end of the most recent quarter. Institutional investors own 10.40% of the company’s stock.

Evogene Company Profile

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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.

Further Reading

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