Reasons why Evelo Biosciences Inc’s (NASDAQ:EVLO) fundamentals are futile

In yesterday’s Wall Street session, Evelo Biosciences Inc (NASDAQ:EVLO) shares traded at $0.43, up 37.23% from the previous session.

2 analysts cover Evelo Biosciences Inc (NASDAQ:EVLO), according to research data. The consensus rating among analysts is ‘Underweight’. As we calculate the median target price by taking the range between a high of $10.00 and a low of $10.00, we find $10.00. Given the previous closing price of $0.31, this indicates a potential upside of 3125.81 percent. EVLO stock price is now -88.65% away from the 50-day moving average and -93.53% away from the 200-day moving average. The market capitalization of the company currently stands at $8.01M.

The stock has received a hold rating from 1 analysts and a buy rating from 0. Brokers who have rated the stock have averaged $10.00 as their price target over the next twelve months.

With the price target maintained at $12, Chardan Capital Markets recently Upgraded its rating from Neutral to Buy for Evelo Biosciences Inc (NASDAQ: EVLO).

In other news, McHale Duncan, Chief Medical Officer sold 6,854 shares of the company’s stock on Nov 02. The stock was sold for $2,262 at an average price of $0.33. Upon completion of the transaction, the Chief Medical Officer now directly owns 13,587 shares in the company, valued at $5842.41. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 02, CSO, President of R&D Bodmer Mark sold 6,854 shares of the business’s stock. A total of $2,262 was realized by selling the stock at an average price of $0.33. This leaves the insider owning 22,270 shares of the company worth $9576.1. Insiders disposed of 176,963 shares of company stock worth roughly $76094.09 over the past 1 year. A total of 50.61% of the company’s stock is owned by insiders.

On Friday morning Evelo Biosciences Inc (NASDAQ: EVLO) stock kicked off with the opening price of $0.3280. During the past 12 months, Evelo Biosciences Inc has had a low of $0.30 and a high of $48.00. The fifty day moving average price for EVLO is $3.6436 and a two-hundred day moving average price translates $6.4649 for the stock.

The latest earnings results from Evelo Biosciences Inc (NASDAQ: EVLO) was released for Jun, 2023. According to the Biotechnology Company, earnings per share came in at -$3.78, missing analysts’ expectations of -$3.3 by -0.48. This compares to -$8.07 EPS in the same period last year. The company reported revenue of $19.57 million for the quarter, compared to $29.59 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -33.84 percent.

Evelo Biosciences Inc(EVLO) Company Profile

Evelo Biosciences, Inc., a clinical-stage biotechnology company, focuses on discovering and developing oral medicines that act on immune cells in the small intestine with systemic effects. It is developing EDP1815, a whole-microbe product candidate, which has completed a Phase 2 trial for the treatment of psoriais; and is in Phase 2 clinical trial for the treatment of atopic dermatitis. The company is also developing EDP1867, a non-live pharmaceutical preparation for single strain of Veillonella parvula, which is in Phase 1b clinical trial; EDP2939, an investigational oral biologic for the potential treatment of inflammatory diseases; and EDP1908, a product candidate for oncology. Evelo Biosciences, Inc. was incorporated in 2014 and is headquartered in Cambridge, Massachusetts.

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