Justin J. File Sells 10,000 Shares of Evofem Biosciences Inc (NASDAQ:EVFM) Stock

Evofem Biosciences Inc (NASDAQ:EVFM) CFO Justin J. File sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $7.16, for a total value of $71,600.00. Following the transaction, the chief financial officer now owns 182,251 shares of the company’s stock, valued at approximately $1,304,917.16. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

EVFM stock traded down $0.50 during midday trading on Wednesday, reaching $6.64. 215,615 shares of the company’s stock traded hands, compared to its average volume of 65,969. The company has a 50-day simple moving average of $5.46 and a two-hundred day simple moving average of $5.42. Evofem Biosciences Inc has a 1-year low of $3.16 and a 1-year high of $7.50. The company has a market cap of $334.22 million, a price-to-earnings ratio of -1.16 and a beta of 0.65.

Evofem Biosciences (NASDAQ:EVFM) last released its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported ($0.30) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.01. On average, sell-side analysts anticipate that Evofem Biosciences Inc will post -1.56 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. increased its holdings in Evofem Biosciences by 23.2% during the 2nd quarter. Invesco Ltd. now owns 11,812,910 shares of the biotechnology company’s stock valued at $78,438,000 after purchasing an additional 2,222,222 shares in the last quarter. Heartland Advisors Inc. increased its holdings in Evofem Biosciences by 3.0% during the 2nd quarter. Heartland Advisors Inc. now owns 850,000 shares of the biotechnology company’s stock valued at $5,644,000 after purchasing an additional 25,000 shares in the last quarter. BlackRock Inc. increased its holdings in Evofem Biosciences by 5,199.0% during the 2nd quarter. BlackRock Inc. now owns 738,420 shares of the biotechnology company’s stock valued at $4,903,000 after purchasing an additional 724,485 shares in the last quarter. Vanguard Group Inc. increased its holdings in Evofem Biosciences by 116.7% during the 2nd quarter. Vanguard Group Inc. now owns 658,091 shares of the biotechnology company’s stock valued at $4,370,000 after purchasing an additional 354,408 shares in the last quarter. Finally, State Street Corp increased its holdings in Evofem Biosciences by 11.2% during the 3rd quarter. State Street Corp now owns 210,293 shares of the biotechnology company’s stock valued at $1,060,000 after purchasing an additional 21,208 shares in the last quarter. 62.47% of the stock is owned by hedge funds and other institutional investors.

EVFM has been the subject of several analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $9.00 target price on shares of Evofem Biosciences in a research report on Wednesday, October 16th. HC Wainwright restated a “buy” rating and set a $9.00 target price on shares of Evofem Biosciences in a research report on Wednesday, November 27th. Zacks Investment Research raised Evofem Biosciences from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, ValuEngine cut Evofem Biosciences from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. Evofem Biosciences currently has a consensus rating of “Hold” and a consensus target price of $8.75.

Evofem Biosciences Company Profile

Evofem Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes women's sexual and reproductive health products. Its lead product candidate is Amphora, a non-hormonal woman-controlled vaginal gel, which is in Phase 3 clinical trial for the prevention of pregnancy; and in Phase 2b trial for the prevention of chlamydia and gonorrhea in women.

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