Evolus (NASDAQ:EOLS) Shares Gap Up - Here's What Happened

Evolus, Inc. (NASDAQ:EOLS - Get Free Report)'s stock price gapped up prior to trading on Thursday . The stock had previously closed at $10.11, but opened at $10.44. Evolus shares last traded at $10.63, with a volume of 62,677 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EOLS. Needham & Company LLC restated a "buy" rating and set a $22.00 price objective on shares of Evolus in a research report on Wednesday, April 9th. HC Wainwright reissued a "buy" rating and set a $27.00 price objective on shares of Evolus in a report on Thursday, April 10th. Barclays upped their target price on Evolus from $22.00 to $25.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. Finally, BTIG Research started coverage on shares of Evolus in a report on Thursday, April 17th. They issued a "buy" rating and a $21.00 price objective for the company. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $23.75.

Evolus Trading Up 0.8 %

The firm has a 50-day moving average price of $12.54 and a 200-day moving average price of $13.05. The stock has a market cap of $665.12 million, a PE ratio of -11.49 and a beta of 0.97. The company has a debt-to-equity ratio of 20.58, a quick ratio of 2.23 and a current ratio of 2.47.

Insider Activity

In other news, insider David Moatazedi sold 6,251 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $12.40, for a total transaction of $77,512.40. Following the transaction, the insider now directly owns 508,619 shares of the company's stock, valued at $6,306,875.60. This represents a 1.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CMO Tomoko Yamagishi-Dressler sold 4,536 shares of Evolus stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $13.26, for a total value of $60,147.36. Following the completion of the sale, the chief marketing officer now directly owns 95,671 shares of the company's stock, valued at $1,268,597.46. The trade was a 4.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 60,575 shares of company stock worth $794,369 over the last 90 days. 6.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Evolus

Several hedge funds and other institutional investors have recently made changes to their positions in EOLS. KBC Group NV bought a new position in Evolus in the fourth quarter worth approximately $49,000. IFP Advisors Inc raised its stake in shares of Evolus by 17,440.7% in the fourth quarter. IFP Advisors Inc now owns 4,736 shares of the company's stock worth $52,000 after buying an additional 4,709 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of Evolus during the 4th quarter valued at about $106,000. Rafferty Asset Management LLC bought a new position in shares of Evolus during the 4th quarter valued at approximately $115,000. Finally, Quantbot Technologies LP purchased a new stake in Evolus in the 4th quarter worth approximately $118,000. Hedge funds and other institutional investors own 90.69% of the company's stock.

Evolus Company Profile

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.