Short Interest in Evoke Pharma, Inc. (NASDAQ:EVOK) Grows By 35.2%

Evoke Pharma, Inc. (NASDAQ:EVOK) saw a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 28,400 shares, a growth of 35.2% from the March 15th total of 21,000 shares. Based on an average daily trading volume, of 17,200 shares, the days-to-cover ratio is currently 1.7 days. Currently, 2.0% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on Evoke Pharma in a report on Sunday, April 13th. They set a “sell” rating for the company.

Hedge Funds Weigh In On Evoke Pharma

An institutional investor recently raised its position in Evoke Pharma stock. Nantahala Capital Management LLC lifted its position in shares of Evoke Pharma, Inc. (NASDAQ:EVOK) by 163.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 148,194 shares of the specialty pharmaceutical company’s stock after acquiring an additional 91,945 shares during the period. Nantahala Capital Management LLC owned approximately 9.95% of Evoke Pharma worth $655,000 as of its most recent filing with the Securities & Exchange Commission.

Evoke Pharma Stock Performance

NASDAQ EVOK remained flat at $2.15 on Friday. 7,937 shares of the company’s stock were exchanged, compared to its average volume of 122,455. The firm has a market cap of $3.21 million, a PE ratio of -0.20 and a beta of 0.30. Evoke Pharma has a twelve month low of $1.94 and a twelve month high of $12.32. The stock has a 50 day moving average price of $3.43 and a 200-day moving average price of $4.35.

Evoke Pharma (NASDAQ:EVOK) last released its quarterly earnings data on Thursday, March 13th. The specialty pharmaceutical company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.24). The firm had revenue of $3.31 million during the quarter, compared to analysts’ expectations of $3.08 million. Evoke Pharma had a negative net margin of 71.32% and a negative return on equity of 308.49%.

About Evoke Pharma

Evoke Pharma, Inc, a specialty pharmaceutical company, primarily focuses on the development and commercialization of drugs for the treatment of gastroenterological disorders and diseases. It offers Gimoti, a metoclopramide nasal spray to treat symptoms associated with acute and recurrent diabetic gastroparesis in adults.