Evoke Pharma, Inc. (NASDAQ:EVOK) Sees Significant Growth in Short Interest

Evoke Pharma, Inc. (NASDAQ:EVOK) was the target of a large increase in short interest in the month of December. As of December 15th, there was short interest totaling 10,911 shares, an increase of 56.2% from the November 30th total of 6,987 shares. Approximately 0.6% of the company’s shares are short sold. Based on an average trading volume of 27,579 shares, the short-interest ratio is currently 0.4 days. Based on an average trading volume of 27,579 shares, the short-interest ratio is currently 0.4 days. Approximately 0.6% of the company’s shares are short sold.

Evoke Pharma Trading Up 0.4%

EVOK traded up $0.04 on Tuesday, reaching $11.00. The company had a trading volume of 47,100 shares, compared to its average volume of 26,141. The company has a market capitalization of $18.92 million, a P/E ratio of -5.31 and a beta of -0.15. Evoke Pharma has a one year low of $1.94 and a one year high of $11.00. The company has a fifty day moving average of $9.65 and a 200-day moving average of $6.38.

Evoke Pharma (NASDAQ:EVOK) last issued its quarterly earnings results on Thursday, November 13th. The specialty pharmaceutical company reported ($0.45) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.45). The firm had revenue of $4.28 million during the quarter, compared to analyst estimates of $4.33 million. Evoke Pharma had a negative return on equity of 101.40% and a negative net margin of 36.23%.

Insiders Place Their Bets

In other Evoke Pharma news, major shareholder Roger M. Klein sold 9,000 shares of Evoke Pharma stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $10.65, for a total value of $95,850.00. Following the transaction, the insider owned 29,000 shares in the company, valued at $308,850. This trade represents a 23.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.29% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Evoke Pharma

A hedge fund recently bought a new stake in Evoke Pharma stock. National Wealth Management Group LLC purchased a new stake in shares of Evoke Pharma, Inc. (NASDAQ:EVOK) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 80,130 shares of the specialty pharmaceutical company’s stock, valued at approximately $398,000. National Wealth Management Group LLC owned 5.14% of Evoke Pharma at the end of the most recent quarter.

Analyst Ratings Changes

Several research firms recently commented on EVOK. Wall Street Zen raised Evoke Pharma to a “hold” rating in a research report on Saturday, December 20th. Laidlaw downgraded Evoke Pharma from a “buy” rating to a “hold” rating in a research note on Thursday, November 6th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Evoke Pharma in a research note on Monday, December 15th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

About Evoke Pharma

Evoke Pharma, Inc is a clinical-stage specialty pharmaceutical company focused on developing novel therapies for gastrointestinal (GI) motility disorders. The company’s lead product candidate, relamorelin, is a selective ghrelin receptor agonist designed to restore gastric motility and accelerate gastric emptying in conditions such as diabetic gastroparesis. Relamorelin has been granted orphan drug designation by the U.S. Food and Drug Administration and has demonstrated proof-of-concept activity in multiple clinical trials, positioning it as a promising treatment for patients with impaired GI function.

In addition to relamorelin, Evoke Pharma is advancing earlier-stage programs targeting metabolic and GI conditions, leveraging its expertise in peptide chemistry and receptor pharmacology.