Jefferies Financial Group upgraded shares of Evelo Biosciences (NASDAQ:EVLO) from a hold rating to a buy rating in a report issued on Monday, Analyst Ratings Network reports. The firm currently has $18.00 price target on the stock, up from their prior price target of $11.00. Jefferies Financial Group also issued estimates for Evelo Biosciences’ Q4 2021 earnings at ($0.55) EPS, FY2021 earnings at ($2.35) EPS, FY2022 earnings at ($2.09) EPS, FY2023 earnings at ($2.98) EPS, FY2024 earnings at ($2.31) EPS and FY2025 earnings at ($1.52) EPS.
Several other analysts have also recently issued reports on the stock. Morgan Stanley increased their target price on shares of Evelo Biosciences from $6.00 to $14.00 and gave the stock an equal weight rating in a research note on Tuesday, January 19th. Chardan Capital increased their target price on shares of Evelo Biosciences from $10.00 to $15.00 and gave the stock a neutral rating in a research note on Friday, March 12th. Zacks Investment Research upgraded shares of Evelo Biosciences from a sell rating to a hold rating in a research report on Wednesday, March 24th. Finally, JMP Securities raised their price objective on shares of Evelo Biosciences from $27.00 to $36.00 and gave the company an outperform rating in a research report on Monday, January 25th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $17.67.
NASDAQ EVLO opened at $11.56 on Monday. Evelo Biosciences has a 1 year low of $3.55 and a 1 year high of $19.93. The company has a debt-to-equity ratio of 0.59, a current ratio of 6.24 and a quick ratio of 6.24. The stock has a market capitalization of $616.55 million, a PE ratio of -4.64 and a beta of 1.46. The company’s 50 day simple moving average is $11.51 and its two-hundred day simple moving average is $9.96.
In other Evelo Biosciences news, major shareholder Ventures Fund Iv Gene Flagship bought 130,000 shares of Evelo Biosciences stock in a transaction that occurred on Tuesday, February 2nd. The shares were bought at an average price of $15.00 per share, with a total value of $1,950,000.00. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 7.30% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in EVLO. BlackRock Inc. grew its holdings in shares of Evelo Biosciences by 38.5% during the 4th quarter. BlackRock Inc. now owns 1,300,252 shares of the company’s stock valued at $15,720,000 after purchasing an additional 361,627 shares during the last quarter. Artal Group S.A. grew its holdings in Evelo Biosciences by 47.4% in the 4th quarter. Artal Group S.A. now owns 700,000 shares of the company’s stock worth $8,463,000 after acquiring an additional 225,000 shares during the last quarter. Credit Suisse AG grew its holdings in Evelo Biosciences by 7.8% in the 4th quarter. Credit Suisse AG now owns 2,705,511 shares of the company’s stock worth $32,710,000 after acquiring an additional 196,126 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Evelo Biosciences by 96.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 144,274 shares of the company’s stock worth $761,000 after acquiring an additional 70,884 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Evelo Biosciences by 601.2% in the 4th quarter. JPMorgan Chase & Co. now owns 52,373 shares of the company’s stock worth $633,000 after acquiring an additional 44,904 shares during the last quarter. 84.57% of the stock is currently owned by institutional investors.
About Evelo Biosciences
Evelo Biosciences, Inc, a biotechnology company, discovers and develops oral biologics for the treatment of inflammatory diseases and cancer. It is developing EDP1815, a whole-microbe candidate for the treatment of inflammatory diseases; and is in clinical development trial for the treatment of psoriasis and atopic dermatitis, as well as for the hyperinflammatory response associated with COVID-19.
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