Evolus (NASDAQ:EOLS) Shares Down 5.5% After Insider Selling

Evolus, Inc. (NASDAQ:EOLS)’s share price fell 5.5% during mid-day trading on Tuesday after an insider sold shares in the company. The stock traded as low as $9.31 and last traded at $9.42. 110,433 shares traded hands during trading, a decline of 88% from the average session volume of 938,410 shares. The stock had previously closed at $9.96.

Specifically, insider David Moatazedi sold 16,582 shares of the company’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $9.89, for a total transaction of $163,995.98. Following the completion of the transaction, the insider now directly owns 364,927 shares of the company’s stock, valued at $3,609,128.03. This represents a 4.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David Moatazedi sold 111,323 shares of the business’s stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $10.05, for a total value of $1,118,796.15. Following the completion of the sale, the insider now owns 381,509 shares in the company, valued at $3,834,165.45. The trade was a 22.59% decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

EOLS has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Evolus in a research report on Thursday, May 8th. BTIG Research started coverage on shares of Evolus in a research note on Thursday, April 17th. They issued a “buy” rating and a $21.00 price target on the stock. Barclays boosted their price objective on Evolus from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Finally, HC Wainwright reissued a “buy” rating and set a $27.00 price target on shares of Evolus in a report on Thursday, April 10th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $23.75.

Evolus Trading Down 6.9%

The firm has a market capitalization of $597.69 million, a P/E ratio of -10.30 and a beta of 1.00. The company has a quick ratio of 2.23, a current ratio of 2.47 and a debt-to-equity ratio of 20.58. The firm has a 50 day moving average of $10.32 and a 200-day moving average of $11.75.

Hedge Funds Weigh In On Evolus

Hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in Evolus by 9.8% during the fourth quarter. Principal Financial Group Inc. now owns 33,370 shares of the company’s stock worth $368,000 after purchasing an additional 2,989 shares during the last quarter. Barclays PLC lifted its holdings in shares of Evolus by 12.9% in the fourth quarter. Barclays PLC now owns 105,786 shares of the company’s stock worth $1,167,000 after acquiring an additional 12,124 shares during the last quarter. Frontier Capital Management Co. LLC acquired a new stake in shares of Evolus in the 4th quarter valued at approximately $2,648,000. Raymond James Financial Inc. bought a new stake in shares of Evolus during the 4th quarter valued at approximately $575,000. Finally, Comerica Bank acquired a new position in Evolus during the 4th quarter worth approximately $312,000. 90.69% of the stock is owned by institutional investors.

Evolus Company Profile

Evolus, Inc, a performance beauty company, focuses on delivering products in the cash-pay aesthetic market in the United States, Canada, and Europe. The company offers Jeuveau, a proprietary 900 kilodalton purified botulinum toxin type A formulation for the temporary improvement in the appearance of moderate to severe glabellar lines in adults.