Investment Analysts’ Recent Ratings Updates for Evelo Biosciences (EVLO)

Several analysts have recently updated their ratings and price targets for Evelo Biosciences (NASDAQ: EVLO):

  • 5/2/2019 – Evelo Biosciences had its “hold” rating reaffirmed by analysts at Chardan Capital. They now have a $10.00 price target on the stock. They wrote, “We have previously expressed some concern on the robustness of this mechanism based on cell trafficking numbers in preclinical animal models (see our 29 January 2019 initiation). The new formulation announced today, though, increases potency up to 30-fold in animal studies, according to management, which could substantially enhance the efficacy signals seen in the clinical trials. The change in formulation, we understand, alters the kinetics of delivery and target engagement relative to the initial product.””
  • 5/2/2019 – Evelo Biosciences had its “buy” rating reaffirmed by analysts at Cowen Inc.
  • 4/30/2019 – Evelo Biosciences is now covered by analysts at Jefferies Financial Group Inc. They set a “buy” rating and a $18.00 price target on the stock.
  • 4/29/2019 – Evelo Biosciences was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Evelo Biosciences, Inc. operates as a bio-technology company. It develops therapies for the treatment of the gut-body network. The company also offers treatment for cancer and inflammatory diseases. Its product portfolio consists of EDP1066 which are in clinical stage. Evelo Biosciences is based in Massachusetts, United States. “
  • 4/23/2019 – Evelo Biosciences was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Evelo Biosciences, Inc. operates as a bio-technology company. It develops therapies for the treatment of the gut-body network. The company also offers treatment for cancer and inflammatory diseases. Its product portfolio consists of EDP1066 which are in clinical stage. Evelo Biosciences is based in Massachusetts, United States. “

Shares of EVLO traded down $0.03 during mid-day trading on Monday, reaching $8.55. 14,512 shares of the company’s stock traded hands, compared to its average volume of 32,150. The stock has a market cap of $273.54 million and a PE ratio of -3.08. The company has a current ratio of 16.43, a quick ratio of 16.43 and a debt-to-equity ratio of 0.09. Evelo Biosciences Inc has a 12 month low of $6.51 and a 12 month high of $16.75.

Evelo Biosciences (NASDAQ:EVLO) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.64) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.55) by ($0.09). As a group, analysts forecast that Evelo Biosciences Inc will post -2.48 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of EVLO. Larson Financial Group LLC acquired a new position in Evelo Biosciences in the fourth quarter worth approximately $73,000. Vanguard Group Inc. grew its position in Evelo Biosciences by 258.0% in the third quarter. Vanguard Group Inc. now owns 239,792 shares of the company’s stock worth $2,920,000 after buying an additional 172,804 shares during the last quarter. Essex Investment Management Co. LLC purchased a new position in Evelo Biosciences during the 4th quarter worth approximately $235,000. BlackRock Inc. grew its position in Evelo Biosciences by 157.5% during the 4th quarter. BlackRock Inc. now owns 670,944 shares of the company’s stock worth $8,729,000 after purchasing an additional 410,407 shares in the last quarter. Finally, Northern Trust Corp grew its position in Evelo Biosciences by 119.7% during the 4th quarter. Northern Trust Corp now owns 128,155 shares of the company’s stock worth $1,667,000 after purchasing an additional 69,825 shares in the last quarter. Institutional investors and hedge funds own 85.05% of the company’s stock.

Evelo Biosciences, Inc, a biotechnology company, focuses on the development of monocolonal microbials for the treatment of inflammatory diseases and cancer. It is involved in developing EDP1066 and EDP1815, which are in Phase 1b placebo-controlled dose-escalating safety and tolerability clinical study for the treatment of atopic dermatitis, asthma, psoriatic arthritis, rheumatoid arthritis, and inflammatory bowel diseases.

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