Evolus (NASDAQ:EOLS) Shares Down 6.5% – Should You Sell?

Evolus, Inc. (NASDAQ:EOLS) shares were down 6.5% during trading on Thursday . The stock traded as low as $8.00 and last traded at $8.0110. Approximately 239,506 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 1,033,910 shares. The stock had previously closed at $8.57.

Analysts Set New Price Targets

A number of brokerages have issued reports on EOLS. BTIG Research reiterated a “buy” rating and set a $13.00 price target on shares of Evolus in a research report on Wednesday, June 17th. Weiss Ratings raised Evolus from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 15th. HC Wainwright restated a “buy” rating and set a $13.00 price objective on shares of Evolus in a research note on Tuesday, August 25th. Finally, Wall Street Zen raised shares of Evolus from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $14.50.

Evolus Price Performance

The stock has a market cap of $517.83 million, a P/E ratio of -15.08 and a beta of 1.42. The company has a fifty day moving average of $7.42 and a 200 day moving average of $6.23.

Insiders Place Their Bets

In related news, insider David Moatazedi sold 105,108 shares of Evolus stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $9.04, for a total transaction of $950,176.32. Following the transaction, the insider directly owned 499,592 shares of the company’s stock, valued at $4,516,311.68. The trade was a 17.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Evolus

Hedge funds have recently made changes to their positions in the business. Sequoia Financial Advisors LLC bought a new stake in shares of Evolus in the 2nd quarter worth approximately $71,000. WINTON GROUP Ltd bought a new position in shares of Evolus in the second quarter valued at $77,000. Squarepoint Ops LLC increased its holdings in shares of Evolus by 24.8% in the second quarter. Squarepoint Ops LLC now owns 197,708 shares of the company’s stock valued at $1,372,000 after buying an additional 39,316 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of Evolus by 79.9% during the 2nd quarter. California State Teachers Retirement System now owns 5,455 shares of the company’s stock valued at $38,000 after acquiring an additional 2,423 shares during the last quarter. Finally, Angeles Wealth Management LLC bought a new stake in shares of Evolus during the 2nd quarter worth $732,000. Institutional investors and hedge funds own 90.69% of the company’s stock.

Evolus Company Profile

Evolus, Inc is a specialty pharmaceutical company focused on medical aesthetics. Headquartered in Newport Beach, California, Evolus develops and commercializes products designed to enhance facial appearance through minimally invasive procedures. Since its founding in 2017, the company has positioned itself in the fast-growing aesthetic market by partnering with leading manufacturers and leveraging clinical expertise to bring innovative injectables to practitioners and patients.

The company’s flagship offering, Jeuveau (prabotulinumtoxinA-xvfs), is a neuromodulator approved by the U.S.