Traders buy high volume put options from Evelo Biosciences (NASDAQ: EVLO)
Evelo Biosciences, Inc. (NASDAQ:EVLO – Get Rating) saw unusual options trading activity on Wednesday. Equity investors bought 1,885 put options on the stock. This is an increase of approximately 1,101% over the typical volume of 157 put options.
Separately, Zacks Investment Research moved shares of Evelo Biosciences from a “hold” rating to a “buy” rating and set a price target of $3.75 for the company in a research note on Wednesday. One equity research analyst gave the stock a hold rating and six gave the company a buy rating. Based on data from MarketBeat.com, Evelo Biosciences has an average rating of “Buy” and an average price target of $19.32.
Shares of EVLO opened at $3.27 on Thursday. The company has a market capitalization of $174.81 million, a price-earnings ratio of -1.37 and a beta of 1.66. The company has a debt ratio of 1.41, a quick ratio of 4.72 and a current ratio of 4.72. Evelo Biosciences has a fifty-two week minimum of $2.55 and a fifty-two week maximum of $17.13. The company has a 50-day moving average price of $3.88 and a 200-day moving average price of $6.60.
Institutional investors and hedge funds have recently changed their positions in the company. Citigroup Inc. increased its equity stake in Evelo Biosciences by 297.6% in the third quarter. Citigroup Inc. now owns 5,742 shares of the company worth $40,000 after acquiring 4,298 additional shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in Evelo Biosciences shares by 644.1% in the third quarter. BNP Paribas Arbitrage SA now owns 5,692 shares in the company worth $40,000 after acquiring an additional 4,927 shares in the last quarter. Meeder Asset Management Inc. increased its stake in Evelo Biosciences by 82.4% during the 3rd quarter. Meeder Asset Management Inc. now owns 8,858 shares of the company valued at $61,000 after purchasing an additional 4,002 shares in the last quarter. The State Board of Administration of Florida Retirement System purchased a new stake in Evelo Biosciences during Q3, valued at $72,000. Finally, SG Americas Securities LLC acquired a new stake in Evelo Biosciences during the 3rd quarter valued at $74,000. Hedge funds and other institutional investors hold 90.77% of the company’s shares.
About Evelo Biosciences (Get an evaluation)
Evelo Biosciences, Inc. operates as a clinical-stage biotechnology company, which engages in the development of investigational orally administered drugs. Its portfolio includes EDP1066 and EDP1815 for the treatment of inflammatory diseases, EDP2939 for inflammation and EDP1908 for oncology. The company was founded by Noubar B.
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