Short Interest in Evogene Ltd. (NASDAQ:EVGN) Declines By 30.7%

Evogene Ltd. (NASDAQ:EVGN) was the target of a significant drop in short interest in the month of December. As of December 15th, there was short interest totaling 49,723 shares, a drop of 30.7% from the November 30th total of 71,799 shares. Approximately 1.0% of the company’s shares are sold short. Based on an average trading volume of 41,656 shares, the days-to-cover ratio is presently 1.2 days. Based on an average trading volume of 41,656 shares, the days-to-cover ratio is presently 1.2 days. Approximately 1.0% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Evogene in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $3.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Jane Street Group LLC grew its stake in Evogene by 58.0% in the 1st quarter. Jane Street Group LLC now owns 33,732 shares of the biotechnology company’s stock valued at $42,000 after acquiring an additional 12,387 shares during the period. Citadel Advisors LLC lifted its holdings in Evogene by 169.4% during the third quarter. Citadel Advisors LLC now owns 57,575 shares of the biotechnology company’s stock valued at $66,000 after purchasing an additional 36,206 shares in the last quarter. Finally, Armistice Capital LLC lifted its holdings in Evogene by 5.9% during the first quarter. Armistice Capital LLC now owns 316,024 shares of the biotechnology company’s stock valued at $395,000 after purchasing an additional 17,743 shares in the last quarter. Hedge funds and other institutional investors own 10.40% of the company’s stock.

Evogene Stock Performance

Shares of EVGN traded down $0.03 during trading hours on Monday, hitting $1.01. The stock had a trading volume of 25,367 shares, compared to its average volume of 586,461. The firm has a 50-day moving average price of $1.15 and a 200 day moving average price of $1.24. Evogene has a fifty-two week low of $0.95 and a fifty-two week high of $2.42. The firm has a market capitalization of $5.40 million, a price-to-earnings ratio of -2.01 and a beta of 1.37.

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

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.