StockNews.com Begins Coverage on Evogene (NASDAQ:EVGN)

StockNews.com assumed coverage on shares of Evogene (NASDAQ:EVGN) in a report released on Saturday morning. The brokerage issued a sell rating on the biotechnology company’s stock.

Separately, Lake Street Capital lowered their target price on Evogene from $30.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, August 23rd.

Evogene Stock Down 1.8 %

Shares of NASDAQ EVGN opened at $2.24 on Friday. Evogene has a twelve month low of $2.02 and a twelve month high of $10.40. The stock has a fifty day simple moving average of $2.78 and a 200-day simple moving average of $4.94.

Evogene (NASDAQ:EVGN) last issued its quarterly earnings data on Thursday, August 22nd. The biotechnology company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.94). Evogene had a negative net margin of 210.26% and a negative return on equity of 72.33%. The firm had revenue of $0.91 million during the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Evogene stock. Renaissance Investment Group LLC bought a new position in shares of Evogene Ltd. (NASDAQ:EVGN) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 10,000 shares of the biotechnology company’s stock, valued at approximately $31,000. Institutional investors own 10.40% of the company’s stock.

About Evogene

Evogene Ltd., together with its subsidiaries, operates as a computational biology company. It focuses on product discovery and development in life-science based industries, including human health and agriculture, through the use of its Computational Predictive Biology (CPB) platform. The company operates through three segments: Agriculture, Human Health, and Industrial Applications.