Evelo Biosciences, Inc. (NASDAQ:EVLO) Given Consensus Recommendation of “Buy” by Analysts

Evelo Biosciences, Inc. (NASDAQ:EVLOGet Rating) has earned a consensus recommendation of “Buy” from the six research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $23.70.

Separately, Zacks Investment Research downgraded Evelo Biosciences from a “buy” rating to a “hold” rating in a research note on Wednesday, March 30th.

Hedge funds have recently made changes to their positions in the business. BNP Paribas Arbitrage SA lifted its position in shares of Evelo Biosciences by 644.1% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 5,692 shares of the company’s stock worth $40,000 after acquiring an additional 4,927 shares during the period. Citigroup Inc. raised its holdings in shares of Evelo Biosciences by 297.6% in the 3rd quarter. Citigroup Inc. now owns 5,742 shares of the company’s stock worth $40,000 after buying an additional 4,298 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in shares of Evelo Biosciences by 82.4% in the 3rd quarter. Meeder Asset Management Inc. now owns 8,858 shares of the company’s stock worth $61,000 after buying an additional 4,002 shares in the last quarter. State Board of Administration of Florida Retirement System acquired a new position in shares of Evelo Biosciences in the 3rd quarter worth approximately $72,000. Finally, SG Americas Securities LLC acquired a new position in shares of Evelo Biosciences in the 3rd quarter worth approximately $74,000. Institutional investors own 92.20% of the company’s stock.

NASDAQ:EVLO traded down $0.22 during mid-day trading on Friday, hitting $1.65. 559,648 shares of the company’s stock traded hands, compared to its average volume of 305,988. The firm has a 50 day moving average of $2.89 and a two-hundred day moving average of $5.35. Evelo Biosciences has a 12 month low of $1.63 and a 12 month high of $17.13. The firm has a market capitalization of $88.52 million, a price-to-earnings ratio of -0.71 and a beta of 1.75. The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 5.37.

Evelo Biosciences (NASDAQ:EVLOGet Rating) last announced its earnings results on Thursday, May 12th. The company reported ($0.56) earnings per share for the quarter, beating the consensus estimate of ($0.61) by $0.05. As a group, equities research analysts expect that Evelo Biosciences will post -2.15 earnings per share for the current year.

About Evelo Biosciences (Get Rating)

Evelo Biosciences, Inc, a biotechnology company, discovers and develops oral biologics for the treatment of inflammatory diseases and cancer. It is developing EDP1815, a whole-microbe candidate for the treatment of inflammatory diseases; and is in Phase 2 clinical trial for the treatment of psoriasis and atopic dermatitis, as well as for the hyperinflammatory response associated with COVID-19.

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Analyst Recommendations for Evelo Biosciences (NASDAQ:EVLO)

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