Evolus, Inc. $EOLS Stock: Pinnacle Associates Ltd. Raises Stake

Pinnacle Associates Ltd. boosted its stake in shares of Evolus, Inc. (NASDAQ:EOLS) by 5.6% during the third quarter, Holdings Channel reports. The firm owned 1,570,061 shares of the company’s stock after purchasing an additional 82,797 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Evolus were worth $12,560,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EOLS. Nantahala Capital Management LLC purchased a new stake in Evolus in the second quarter worth approximately $38,878,026. BlackRock Inc. purchased a new stake in Evolus during the 2nd quarter valued at $33,595,000. Rice Hall James & Associates LLC bought a new position in shares of Evolus during the 2nd quarter valued at $8,952,000. Perceptive Advisors LLC bought a new position in shares of Evolus during the 1st quarter valued at $5,289,000. Finally, AWH Capital L.P. bought a new position in shares of Evolus during the 2nd quarter valued at $4,337,500. Hedge funds and other institutional investors own 90.69% of the company’s stock.

Insider Activity

In related news, insider David Moatazedi sold 105,108 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $9.04, for a total value of $950,176.32. Following the transaction, the insider owned 499,592 shares of the company’s stock, valued at approximately $4,516,311.68. This trade represents a 17.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 5.00% of the company’s stock.

Wall Street Analysts Forecast Growth

EOLS has been the topic of a number of research reports. Wall Street Zen upgraded Evolus from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Evolus in a report on Friday, September 11th. Finally, HC Wainwright reiterated a “buy” rating and set a $13.00 price objective on shares of Evolus in a research report on Tuesday, August 25th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $14.50.

Evolus Stock Up 0.4%

NASDAQ EOLS opened at $7.40 on Thursday. Evolus, Inc. has a 52 week low of $3.86 and a 52 week high of $9.31. The firm has a market capitalization of $488.77 million, a P/E ratio of -14.23 and a beta of 1.33. The company has a 50-day moving average price of $8.12 and a 200-day moving average price of $6.84.

Evolus Company Profile

Evolus, Inc is a commercial-stage medical aesthetics company focused on developing and marketing products for healthcare providers and consumers. The company’s portfolio is designed to address facial wrinkles, folds and other signs of aging through injectable aesthetic treatments.

Evolus’ flagship product is Jeuveau (prabotulinumtoxinA-xvfs), an injectable botulinum toxin approved in the United States for the temporary improvement of moderate to severe glabellar lines in adults. The company markets Jeuveau in the United States and sells the product internationally under the Nuceiva brand in certain markets.

The company has expanded beyond neuromodulators with its Evolysse collection of injectable hyaluronic acid dermal fillers, which is intended to address facial volume loss and wrinkles.