JMP Securities maintained its Evelo Biosciences Inc. [NASDAQ:EVLO] rating to the equivalent of Outperform but changed the price target to $27, in a research note dated December 30, 2020. That figure represents around a 139.57% premium from where the company’s shares closed on Tuesday. Some new analysts also started their coverage, with JMP Securities’s analysts assigning the shares to ”a Mkt outperform” rating in a research note to investors issued in late December. Meanwhile, Morgan Stanley had lowered its rating on EVLO to “an Equal-weight” from the earlier “an Overweight”, in a research note produced for clients May 21, 2020. In addition, there was a downgrade from Jefferies on May 12, 2020. The rater changed EVLO from “a Buy” to “a Hold”.
Is Evelo Biosciences Inc. [NASDAQ:EVLO] a Good Buy Right Now?
It should be noted that EVLO technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 64% Buy in the past month. Data from Evelo Biosciences Inc.’s Trend Spotter indicated that the signals were Weakest. The stock current average is 0.71 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.36 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.26 million shares.
EVLO Price Performance
On Wall Street, Evelo Biosciences Inc. [NASDAQ:EVLO] finished Tuesday’s session down -8.22% at $11.27. The stock went up to $12.49 at the same session while its lowest single day price was $10.9701. In the last five days, it saw a rise of about 1.99%, Evelo Biosciences Inc. shares gained by almost 177.59% since the beginning of the year. However, the share price has dropped to as low as -9.84% below its one year high. On 12/28/20, the company shares recorded $12.50, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 03/16/20, the same year at $3.01. The company’s shares have inclined by 167.70% in the past year. The 50-day SMA achieved is $6.17 while the 200-day SMA is $4.91. Volume dropped to 0.26 million from 0.69 million in the previous session.
EVLO Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 10.66 level, and in case of violation of this particular level, it will cause more drop to 10.06 level. On the upper level, 13.10 is still the key resistance. The stock may increase to the subsequent resistance at 12.18. The Relative Strength Index (RSI) pinned on the 14-day chart is 66.95, implying a neutral technical stance while the MACD stands at 1.56, meaning price will increase in the next trading period. Percent R indicator moved to 17.08%, implying bullish price movement. Stochastic %K at 87.49% suggest selling the stock.
What is the short interest in Evelo Biosciences Inc.?
Short interest in the Evelo Biosciences Inc. stock has surged, increasing by 80000.0 shares to total 2.0 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 2.08 million, data from Yahoo Finance shows. The decrease of -4.0% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 8.16% of the overall float for the stock.
Evelo Biosciences Inc.’s Biggest Shareholders: Who Owns Evelo Biosciences Inc. [EVLO]?
Filings by Fidelity Management & Research Co showed that the firm now holds a total of 5,000,985 shares or roughly 10.83% of the outstanding EVLO shares. This means their shares have increased by 449,766 from the 5,000,985 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, Credit Suisse Securities updated stake is worth $12,873,145. Details in the latest 13F filings reveal that Credit Suisse Asset Management acquired their 35.03% stake valued at $8,245,998. During the last quarter, Credit Suisse Asset Management raised 417,007 of its shares in Evelo Biosciences Inc. while DNCA Finance SA bought 1,300,000 shares. The BVF Partners LP’s holdings currently number 1,300,000 shares at $14651000.0. According to the firm’s last 13F report, The Vanguard Group, Inc. shares in the company at filing stood at 848,050 shares, roughly $4,350,497.