Evogene (NASDAQ:EVGN) Coverage Initiated at StockNews.com

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

Evogene Stock Performance

Shares of EVGN opened at $0.71 on Thursday. Evogene has a fifty-two week low of $0.45 and a fifty-two week high of $1.44. The company’s fifty day moving average is $0.78 and its 200 day moving average is $0.75. The stock has a market capitalization of $29.27 million, a PE ratio of -1.34 and a beta of 1.47.

Evogene (NASDAQ:EVGN) last issued its quarterly earnings results on Thursday, March 7th. The biotechnology company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.01. Evogene had a negative net margin of 423.39% and a negative return on equity of 76.93%. The company had revenue of $0.58 million for the quarter, compared to the consensus estimate of $1.73 million. During the same period in the prior year, the firm posted ($0.07) EPS.

Institutional Investors Weigh In On Evogene

An institutional investor recently raised its position in Evogene stock. BNP Paribas Financial Markets increased its stake in shares of Evogene Ltd. (NASDAQ:EVGN) by 30.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,400 shares of the biotechnology company’s stock after buying an additional 21,500 shares during the quarter. BNP Paribas Financial Markets owned about 0.22% of Evogene worth $69,000 as of its most recent SEC filing. 10.40% of the stock is owned by hedge funds and other institutional investors.

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.