Evogene (NASDAQ:EVGN) Stock Price Passes Above 50-Day Moving Average – Time to Sell?

Evogene Ltd. (NASDAQ:EVGN)’s share price passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $0.58 and traded as high as $0.6080. Evogene shares last traded at $0.5848, with a volume of 378,670 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Evogene in a research note on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Evogene Trading Up 0.9%

The firm has a 50-day moving average of $0.58 and a 200-day moving average of $0.79. The stock has a market capitalization of $5.10 million, a price-to-earnings ratio of -0.42 and a beta of 1.40.

Evogene (NASDAQ:EVGN) last issued its earnings results on Saturday, May 16th. The biotechnology company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.33). Evogene had a negative return on equity of 158.82% and a negative net margin of 638.12%.The firm had revenue of $0.33 million during the quarter, compared to analysts’ expectations of $0.35 million.

Institutional Investors Weigh In On Evogene

A number of large investors have recently bought and sold shares of EVGN. XTX Topco Ltd purchased a new stake in Evogene in the fourth quarter valued at approximately $25,000. Jane Street Group LLC raised its position in Evogene by 58.0% during the 1st quarter. Jane Street Group LLC now owns 33,732 shares of the biotechnology company’s stock worth $42,000 after buying an additional 12,387 shares during the last quarter. Finally, Citadel Advisors LLC raised its position in Evogene by 169.4% during the 3rd quarter. Citadel Advisors LLC now owns 57,575 shares of the biotechnology company’s stock worth $66,000 after buying an additional 36,206 shares during the last quarter. Hedge funds and other institutional investors own 10.40% of the company’s stock.

About Evogene

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.