Evolus (NASDAQ:EOLS) Stock Price Down 5.5% on Insider Selling

Shares of Evolus, Inc. (NASDAQ:EOLS) were down 5.5% during trading on Tuesday after an insider sold shares in the company. The company traded as low as $9.31 and last traded at $9.42. Approximately 110,433 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 938,410 shares. The stock had previously closed at $9.96.

Specifically, insider David Moatazedi sold 16,582 shares of the firm’s stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $9.89, for a total transaction of $163,995.98. Following the completion of the sale, the insider now owns 364,927 shares of the company’s stock, valued at approximately $3,609,128.03. This trade represents a 4.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider David Moatazedi sold 111,323 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $10.05, for a total transaction of $1,118,796.15. Following the sale, the insider now directly owns 381,509 shares in the company, valued at $3,834,165.45. This trade represents a 22.59% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Ratings Changes

EOLS has been the topic of several research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $22.00 price target on shares of Evolus in a research note on Thursday, May 8th. Barclays increased their price target on shares of Evolus from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. BTIG Research began coverage on shares of Evolus in a research note on Thursday, April 17th. They issued a “buy” rating and a $21.00 price objective on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Evolus in a research note on Thursday, April 10th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $23.75.

Evolus Trading Up 0.5%

The stock has a market capitalization of $599.66 million, a P/E ratio of -10.45 and a beta of 1.00. The company has a debt-to-equity ratio of 22.00, a current ratio of 2.34 and a quick ratio of 2.16. The business’s 50 day simple moving average is $10.28 and its 200-day simple moving average is $11.71.

Hedge Funds Weigh In On Evolus

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Evolus by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,451 shares of the company’s stock worth $347,000 after purchasing an additional 1,094 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Evolus by 2.2% during the fourth quarter. Rhumbline Advisers now owns 80,149 shares of the company’s stock worth $885,000 after purchasing an additional 1,762 shares in the last quarter. Tradition Wealth Management LLC boosted its position in shares of Evolus by 18.2% during the fourth quarter. Tradition Wealth Management LLC now owns 13,000 shares of the company’s stock worth $144,000 after purchasing an additional 2,000 shares in the last quarter. MetLife Investment Management LLC boosted its position in shares of Evolus by 6.3% during the fourth quarter. MetLife Investment Management LLC now owns 34,272 shares of the company’s stock worth $378,000 after purchasing an additional 2,044 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its position in shares of Evolus by 19.5% during the fourth quarter. Teacher Retirement System of Texas now owns 14,084 shares of the company’s stock worth $155,000 after purchasing an additional 2,302 shares in the last quarter. 90.69% of the stock is owned by institutional investors.

About Evolus

Evolus, Inc, a performance beauty company, focuses on delivering products in the cash-pay aesthetic market in the United States, Canada, and Europe. The company offers Jeuveau, a proprietary 900 kilodalton purified botulinum toxin type A formulation for the temporary improvement in the appearance of moderate to severe glabellar lines in adults.