Evelo Biosciences (EVLO) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Evelo Biosciences (NASDAQ:EVLO) from a sell rating to a hold rating in a research report released on Thursday, Zacks.com reports.

According to Zacks, “Evelo Biosciences, Inc. operates as a bio-technology company. It develops therapies for the treatment of the gut-body network. The company also offers treatment for cancer and inflammatory diseases. Its product portfolio consists of EDP1066 which are in clinical stage. Evelo Biosciences is based in Massachusetts, United States. “

A number of other research firms also recently issued reports on EVLO. Chardan Capital reissued a hold rating and issued a $10.00 price objective on shares of Evelo Biosciences in a report on Friday, February 15th. Cowen reaffirmed a buy rating on shares of Evelo Biosciences in a report on Thursday, May 2nd. Finally, Jefferies Financial Group began coverage on shares of Evelo Biosciences in a report on Tuesday, April 30th. They set a buy rating and a $18.00 price target on the stock. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $21.80.

EVLO opened at $7.48 on Thursday. The company has a current ratio of 11.88, a quick ratio of 11.88 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $239.69 million and a P/E ratio of -2.69. Evelo Biosciences has a 12-month low of $6.51 and a 12-month high of $16.75.

Evelo Biosciences (NASDAQ:EVLO) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.09). On average, equities research analysts predict that Evelo Biosciences will post -2.42 earnings per share for the current year.

A number of large investors have recently modified their holdings of the business. Legal & General Group Plc lifted its holdings in Evelo Biosciences by 169.8% during the fourth quarter. Legal & General Group Plc now owns 2,142 shares of the company’s stock valued at $28,000 after purchasing an additional 1,348 shares in the last quarter. Larson Financial Group LLC lifted its holdings in Evelo Biosciences by 29.5% during the first quarter. Larson Financial Group LLC now owns 7,268 shares of the company’s stock valued at $58,000 after purchasing an additional 1,655 shares in the last quarter. Bank of Montreal Can lifted its holdings in Evelo Biosciences by 247.9% during the fourth quarter. Bank of Montreal Can now owns 2,811 shares of the company’s stock valued at $37,000 after purchasing an additional 2,003 shares in the last quarter. Jane Street Group LLC lifted its holdings in Evelo Biosciences by 12.3% during the fourth quarter. Jane Street Group LLC now owns 19,785 shares of the company’s stock valued at $257,000 after purchasing an additional 2,174 shares in the last quarter. Finally, Citigroup Inc. lifted its holdings in Evelo Biosciences by 164.8% during the fourth quarter. Citigroup Inc. now owns 3,900 shares of the company’s stock valued at $51,000 after purchasing an additional 2,427 shares in the last quarter. 84.66% of the stock is currently owned by institutional investors and hedge funds.

Evelo Biosciences Company Profile

Evelo Biosciences, Inc, a biotechnology company, focuses on the development of monocolonal microbials for the treatment of inflammatory diseases and cancer. It is involved in developing EDP1066 and EDP1815, which are in Phase 1b placebo-controlled dose-escalating safety and tolerability clinical study for the treatment of atopic dermatitis, asthma, psoriatic arthritis, rheumatoid arthritis, and inflammatory bowel diseases.

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