Evogene (NASDAQ:EVGN) Stock Price Passes Below Two Hundred Day Moving Average – Time to Sell?

Shares of Evogene Ltd. (NASDAQ:EVGN) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.18 and traded as low as $1.04. Evogene shares last traded at $1.10, with a volume of 573,151 shares changing hands.

Evogene Trading Up 0.9%

The stock has a market cap of $5.91 million, a PE ratio of -2.20 and a beta of 1.35. The business’s 50-day moving average price is $1.06 and its 200-day moving average price is $1.18.

Evogene (NASDAQ:EVGN) last posted its earnings results on Thursday, November 20th. The biotechnology company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.10. Evogene had a negative net margin of 52.33% and a negative return on equity of 75.09%. The company had revenue of $0.31 million during the quarter, compared to analysts’ expectations of $0.65 million.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Evogene stock. Jane Street Group LLC raised its holdings in Evogene Ltd. (NASDAQ:EVGN) by 58.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 33,732 shares of the biotechnology company’s stock after buying an additional 12,387 shares during the quarter. Jane Street Group LLC owned about 0.63% of Evogene worth $42,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 10.40% of the company’s stock.

Evogene Company Profile

Evogene Ltd. is a biotechnology company specializing in the use of computational and predictive biology technologies to design and develop novel products for agriculture and human health. Founded in 2002 and headquartered in Rehovot, Israel, the company has built a proprietary computational platform that integrates genomics, machine learning and data analytics to identify gene targets and biological traits. Evogene’s platform serves as the backbone for its research and development efforts, enabling the discovery of enhanced crop traits, microbial solutions and microbiome-based diagnostics and therapeutics.

In the agricultural sector, Evogene applies its platform to improve crop performance across a range of parameters, including yield enhancement, stress tolerance and resistance to pests and pathogens.