Formula Growth Ltd. Sells 47,170 Shares of Evolus, Inc. (NASDAQ:EOLS)

Formula Growth Ltd. trimmed its holdings in Evolus, Inc. (NASDAQ:EOLS - Free Report) by 34.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 90,830 shares of the company's stock after selling 47,170 shares during the quarter. Formula Growth Ltd. owned 0.14% of Evolus worth $1,003,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of EOLS. Altium Capital Management LLC boosted its holdings in Evolus by 93.0% in the 4th quarter. Altium Capital Management LLC now owns 685,000 shares of the company's stock valued at $7,562,000 after purchasing an additional 330,000 shares during the period. Lord Abbett & CO. LLC raised its position in shares of Evolus by 23.4% during the third quarter. Lord Abbett & CO. LLC now owns 995,449 shares of the company's stock valued at $16,126,000 after buying an additional 188,685 shares during the last quarter. Barclays PLC lifted its stake in shares of Evolus by 268.0% in the third quarter. Barclays PLC now owns 93,662 shares of the company's stock valued at $1,518,000 after buying an additional 68,213 shares during the period. JPMorgan Chase & Co. grew its position in Evolus by 63.5% during the third quarter. JPMorgan Chase & Co. now owns 169,926 shares of the company's stock worth $2,753,000 after buying an additional 65,972 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Evolus in the 4th quarter valued at approximately $575,000. Institutional investors and hedge funds own 90.69% of the company's stock.

Evolus Price Performance

NASDAQ EOLS traded up $0.41 during trading hours on Thursday, reaching $11.64. 204,131 shares of the company's stock were exchanged, compared to its average volume of 662,929. The firm has a fifty day moving average of $12.38 and a 200-day moving average of $13.02. The company has a current ratio of 2.47, a quick ratio of 2.23 and a debt-to-equity ratio of 20.58. Evolus, Inc. has a one year low of $8.67 and a one year high of $17.82. The stock has a market cap of $740.03 million, a PE ratio of -12.73 and a beta of 0.97.

Analysts Set New Price Targets

EOLS has been the topic of a number of research reports. 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. Barclays increased their price objective on shares of Evolus from $22.00 to $25.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. BTIG Research began coverage on shares of Evolus in a research report on Thursday, April 17th. They set a "buy" rating and a $21.00 target price on the stock. Finally, HC Wainwright restated a "buy" rating and set a $27.00 price target on shares of Evolus in a research note on Thursday, April 10th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $23.75.

Insider Activity at Evolus

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

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.