Evogene (NASDAQ:EVGN) Shares Cross Below Two Hundred Day Moving Average – Should You Sell?

Evogene Ltd. (NASDAQ:EVGN)’s share price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $0.90 and traded as low as $0.5524. Evogene shares last traded at $0.5839, with a volume of 126,770 shares.

Evogene Stock Performance

The firm has a market cap of $5.09 million, a P/E ratio of -0.42 and a beta of 1.35. The stock has a fifty day simple moving average of $0.74 and a 200 day simple moving average of $0.90.

Evogene (NASDAQ:EVGN) last released its quarterly earnings results on Saturday, May 16th. The biotechnology company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.33). The firm had revenue of $0.33 million during the quarter, compared to analysts’ expectations of $0.35 million. Evogene had a negative return on equity of 158.82% and a negative net margin of 638.12%.

Hedge Funds Weigh In On Evogene

A number of institutional investors and hedge funds have recently modified their holdings of EVGN. XTX Topco Ltd purchased a new position in shares of Evogene in the 4th quarter worth $25,000. Jane Street Group LLC boosted its stake in shares of Evogene by 58.0% in the 1st quarter. Jane Street Group LLC now owns 33,732 shares of the biotechnology company’s stock worth $42,000 after buying an additional 12,387 shares during the last quarter. Finally, Citadel Advisors LLC boosted its stake in shares of Evogene by 169.4% in the 3rd quarter. Citadel Advisors LLC now owns 57,575 shares of the biotechnology company’s stock worth $66,000 after buying an additional 36,206 shares during the last quarter. 10.40% of the stock is currently owned by hedge funds and other institutional investors.

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.