Evogene (NASDAQ:EVGN) Releases Quarterly Earnings Results, Beats Expectations By $0.14 EPS

Evogene (NASDAQ:EVGN) posted its earnings results on Tuesday. The biotechnology company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.14, Zacks reports. Evogene had a negative return on equity of 158.82% and a negative net margin of 638.12%.

Evogene Stock Down 6.8%

EVGN opened at $0.56 on Tuesday. Evogene has a twelve month low of $0.37 and a twelve month high of $1.50. The company’s 50-day moving average price is $0.53 and its two-hundred day moving average price is $0.72. The stock has a market cap of $4.88 million, a price-to-earnings ratio of -0.40 and a beta of 1.40.

Insider Activity

In related news, Director Leon Recanati purchased 460,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were bought at an average price of $0.64 per share, with a total value of $294,400.00. Following the acquisition, the director owned 1,343,886 shares of the company’s stock, valued at $860,087.04. This trade represents a 52.04% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 7.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Evogene

Several institutional investors and hedge funds have recently bought and sold shares of EVGN. Jane Street Group LLC increased its position in Evogene by 58.0% in the first 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. XTX Topco Ltd purchased a new position in shares of Evogene during the 4th quarter valued at $25,000. Finally, Citadel Advisors LLC lifted its position in shares of Evogene by 169.4% during the 3rd quarter. Citadel Advisors LLC now owns 57,575 shares of the biotechnology company’s stock valued at $66,000 after buying an additional 36,206 shares during the last quarter. 10.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Evogene in a report on Wednesday, July 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Evogene presently has an average rating of “Sell”.

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.