Evelo Biosciences (NASDAQ:EVLO) Posts Earnings Results, Beats Estimates By $0.08 EPS

Evelo Biosciences (NASDAQ:EVLO) posted its quarterly earnings data on Thursday. The company reported ($0.63) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.71) by $0.08, MarketWatch Earnings reports.

NASDAQ EVLO traded down $0.17 during trading hours on Friday, reaching $3.81. The company’s stock had a trading volume of 287,552 shares, compared to its average volume of 134,286. The firm’s 50-day moving average price is $4.30 and its 200-day moving average price is $4.56. The company has a quick ratio of 4.89, a current ratio of 4.89 and a debt-to-equity ratio of 0.50. Evelo Biosciences has a 1 year low of $3.01 and a 1 year high of $9.27.

A number of research firms have recently weighed in on EVLO. Morgan Stanley cut Evelo Biosciences from an “overweight” rating to an “equal weight” rating and set a $8.00 price objective on the stock. in a research report on Thursday, May 21st. Zacks Investment Research cut Evelo Biosciences from a “buy” rating to a “hold” rating in a research report on Tuesday, July 21st. BMO Capital Markets lowered their price target on Evelo Biosciences from $21.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, July 2nd. Finally, Jefferies Financial Group cut Evelo Biosciences from a “buy” rating to a “hold” rating and lowered their price target for the stock from $18.00 to $6.00 in a report on Tuesday, May 12th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $8.81.

In other Evelo Biosciences news, major shareholder Ventures Fund Iv Gene Flagship purchased 4,666,666 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were bought at an average cost of $3.75 per share, with a total value of $17,499,997.50. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 7.30% of the stock is currently owned by insiders.

Evelo Biosciences Company Profile

Evelo Biosciences, Inc, a biotechnology company, focuses on the development of monocolonal microbials for the treatment of inflammatory diseases and cancer. It is involved in developing EDP1066 and EDP1815, which are in Phase 1b placebo-controlled dose-escalating safety and tolerability clinical study for the treatment of atopic dermatitis, asthma, psoriatic arthritis, rheumatoid arthritis, and inflammatory bowel diseases.

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Earnings History for Evelo Biosciences (NASDAQ:EVLO)

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