Evelo Biosciences Sees Unusually Large Options Volume (NASDAQ:EVLO)

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Evelo Biosciences, Inc. (NASDAQ:EVLOGet a rating) was the target of unusually heavy options trading activity on Wednesday. Traders bought 1,885 put options on the stock. This is an increase of approximately 1,101% from the typical daily volume of 157 put options.

EVLO opened at $2.50 on Thursday. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt ratio of 5.37. The company has a 50-day moving average price of $2.56 and a 200-day moving average price of $4.60. Evelo Biosciences has a 12-month low of $1.42 and a 12-month high of $17.13. The stock has a market capitalization of $134.15 million, a price-earnings ratio of -1.08 and a beta of 1.75.

Evelo Biosciences (NASDAQ:EVLOGet a rating) last announced its results on Thursday, May 12. The company reported ($0.56) EPS for the quarter, beating analyst consensus estimates of ($0.61) by $0.05. As a group, analysts expect Evelo Biosciences to post earnings per share of -2.07 for the current year.

In other news from Evelo Biosciences, major shareholder Ventures Fund Iv Gene Flagship acquired 27,397,259 shares of the company in a transaction that took place on Friday, May 27. The shares were acquired at an average price of $1.46 per share, with a total value of $39,999,998.14. Following the completion of the purchase, the insider now directly owns 13,698,630 shares of the company, valued at approximately $19,999,999.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC website. Insiders hold 6.10% of the shares of the company.

Hedge funds have recently changed their positions in the business. Walleye Capital LLC acquired a new stake in Evelo Biosciences during the first quarter worth approximately $38,000. Citigroup Inc. increased its stake in Evelo Biosciences by 297.6% during the third quarter. Citigroup Inc. now owns 5,742 shares of the company valued at $40,000 after purchasing an additional 4,298 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in Evelo Biosciences by 644.1% during the third quarter. BNP Paribas Arbitrage SA now owns 5,692 shares in the company valued at $40,000 after purchasing an additional 4,927 shares in the last quarter. Wells Fargo & Company MN increased its stake in Evelo Biosciences by 34,145.9% during the fourth quarter. Wells Fargo & Company MN now owns 12,671 shares of the company valued at $76,000 after purchasing an additional 12,634 shares in the last quarter. Finally, Invesco Ltd. bought a new equity stake in Evelo Biosciences in the third quarter at a value of $77,000. 92.20% of the shares are held by institutional investors and hedge funds.

Separately, Zacks Investment Research downgraded shares of Evelo Biosciences from a “buy” rating to a “hold” rating in a Wednesday, March 30 research note. One analyst gave the stock a hold rating and five gave the stock a buy rating. According to MarketBeat, the stock currently has an average buy rating and an average price target of $20.38.

About Evelo Biosciences (Get a rating)

Evelo Biosciences, Inc, a biotechnology company, discovers and develops oral biologics for the treatment of inflammatory diseases and cancer. It is developing EDP1815, a whole-microbe candidate for the treatment of inflammatory diseases; and is in a Phase 2 clinical trial for the treatment of psoriasis and atopic dermatitis, as well as the hyperinflammatory response associated with COVID-19.

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