Saundra L. Pelletier Acquires 50,000 Shares of Evofem Biosciences, Inc. (NASDAQ:EVFM) Stock

Evofem Biosciences, Inc. (NASDAQ:EVFM) CEO Saundra L. Pelletier acquired 50,000 shares of the business’s stock in a transaction on Thursday, June 10th. The stock was bought at an average cost of $1.03 per share, for a total transaction of $51,500.00. Following the completion of the transaction, the chief executive officer now directly owns 850,837 shares of the company’s stock, valued at $876,362.11. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

NASDAQ:EVFM traded up $0.05 during mid-day trading on Thursday, hitting $1.05. The company had a trading volume of 12,639,185 shares, compared to its average volume of 7,233,839. The business has a fifty day simple moving average of $1.28. The company has a quick ratio of 0.94, a current ratio of 1.06 and a debt-to-equity ratio of 18.72. Evofem Biosciences, Inc. has a 1 year low of $0.75 and a 1 year high of $5.53. The company has a market capitalization of $107.98 million, a price-to-earnings ratio of -0.45 and a beta of -0.28.

Evofem Biosciences (NASDAQ:EVFM) last announced its earnings results on Thursday, May 6th. The biotechnology company reported ($0.56) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.49) by ($0.07). The firm had revenue of $1.11 million during the quarter, compared to analyst estimates of $2.02 million. As a group, sell-side analysts forecast that Evofem Biosciences, Inc. will post -1.57 EPS for the current year.

Separately, HC Wainwright cut their price objective on Evofem Biosciences from $7.00 to $4.00 and set a “buy” rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. Evofem Biosciences has a consensus rating of “Hold” and a consensus price target of $8.10.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Virtu Financial LLC purchased a new stake in shares of Evofem Biosciences during the fourth quarter worth about $26,000. HighTower Advisors LLC purchased a new stake in shares of Evofem Biosciences during the fourth quarter worth about $27,000. Kestra Advisory Services LLC purchased a new stake in shares of Evofem Biosciences during the first quarter worth about $31,000. Beacon Pointe Advisors LLC acquired a new position in Evofem Biosciences in the first quarter worth about $33,000. Finally, XTX Topco Ltd acquired a new position in Evofem Biosciences in the first quarter worth about $34,000. 41.28% of the stock is currently owned by institutional investors and hedge funds.

Evofem Biosciences Company Profile

Evofem Biosciences, Inc, a biopharmaceutical company, develops and commercializes various products to address unmet needs in women's sexual and reproductive health. Its commercial product is Phexxi, a vaginal gel for the prevention of pregnancy. The company is also involved in the development of EVO100, an antimicrobial vaginal gel for the prevention of urogenital transmission of Chlamydia trachomatis infection and Neisseria gonorrhoeae infection in women.

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