Evogene Ltd. (NASDAQ:EVGN) Sees Large Drop in Short Interest

Evogene Ltd. (NASDAQ:EVGN) was the recipient of a significant decline in short interest in July. As of July 31st, there was short interest totaling 45,127 shares, a decline of 81.9% from the July 15th total of 248,770 shares. Approximately 0.6% of the company’s stock are short sold. Based on an average daily volume of 210,507 shares, the short-interest ratio is presently 0.2 days.

Evogene Trading Down 5.2%

NASDAQ:EVGN traded down $0.03 during trading hours on Friday, hitting $0.62. The company’s stock had a trading volume of 229,044 shares, compared to its average volume of 952,951. The stock has a market capitalization of $5.38 million, a P/E ratio of -0.44 and a beta of 1.40. The stock has a fifty day moving average of $0.53 and a 200-day moving average of $0.73. Evogene has a 52-week low of $0.37 and a 52-week high of $1.50.

Evogene (NASDAQ:EVGN) last announced 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 business had revenue of $0.33 million for 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%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Evogene in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Evogene currently has an average rating of “Sell”.

Insiders Place Their Bets

In other Evogene news, Director Leon Recanati bought 460,000 shares of Evogene stock in a transaction on Tuesday, August 11th. The shares were bought at an average cost of $0.64 per share, for a total transaction of $294,400.00. Following the acquisition, the director directly owned 1,343,886 shares in the company, valued at $860,087.04. This represents a 52.04% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 7.40% of the stock is currently owned by insiders.

Institutional Trading of Evogene

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EVGN. Jane Street Group LLC grew its position 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 valued at $42,000 after buying an additional 12,387 shares during the last quarter. Citadel Advisors LLC grew its holdings in shares of Evogene by 169.4% during the third quarter. Citadel Advisors LLC now owns 57,575 shares of the biotechnology company’s stock worth $66,000 after purchasing an additional 36,206 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Evogene during the fourth quarter worth about $25,000. Institutional investors and hedge funds own 10.40% of the company’s stock.

Evogene Company Profile

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.