Evolus, Inc. insider David Moatazedi recently sold 10,539 shares of the company’s stock on December 22, 2023, in a transaction valued at $75,353.85. The shares were sold at an average price of $7.15 each. Following this sale, Moatazedi holds 354,388 shares in Evolus, which are now worth approximately $2,533,874.20. This transaction resulted in a 2.89% decrease in his total holdings.
The sale was documented in a legal filing with the U.S. Securities and Exchange Commission (SEC), which is accessible through the SEC’s website. Such disclosures are standard practice to maintain transparency regarding insider transactions.
Stock Performance and Market Context
On the same day as the sale, Evolus shares traded down by $0.24, closing at $6.66. The trading volume reached 742,236 shares, notably lower than the average volume of 1,126,954 shares. Currently, Evolus has a market capitalization of $431.70 million, with a price-to-earnings ratio of -7.24 and a beta of 0.87.
The company’s stock has experienced fluctuations over the past year, with a low of $5.71 and a high of $17.12. The current 50-day moving average for Evolus stands at $6.91, while the 200-day moving average is $7.51.
Recent Financial Performance
Evolus last reported its quarterly earnings on November 5, 2023. The company posted an earnings per share (EPS) figure of ($0.14), surpassing the consensus estimate of ($0.19) by $0.05. Despite this positive deviation, Evolus recorded a negative return on equity of 759.04% and a negative net margin of 20.49%. The company generated $68.97 million in revenue during the quarter, falling short of the anticipated $91.23 million.
Looking ahead, analysts predict that Evolus will report an EPS of ($0.61) for the current fiscal year. This projection reflects the challenges the company faces in the competitive aesthetic market.
Institutional Investor Activity
Recent movements among institutional investors indicate a significant interest in Evolus. Frazier Life Sciences Management L.P. established a new position in the company valued at approximately $22,431,000 during the second quarter. Meanwhile, Nantahala Capital Management LLC increased its stake by 33.2% in the third quarter, amassing 5,726,857 shares valued at about $35,163,000 after acquiring an additional 1,428,931 shares.
Other notable changes include Soleus Capital Management L.P., which raised its holdings by 96.4% during the second quarter, now owning 2,119,000 shares worth $19,516,000. Additionally, Caligan Partners LP increased its position by 23.8%, holding 4,138,943 shares valued at $25,413,000. Currently, institutional investors collectively own 90.69% of Evolus’ stock.
Founded in 2017 and headquartered in Newport Beach, California, Evolus specializes in medical aesthetics. The company focuses on developing and commercializing products aimed at enhancing facial appearance through minimally invasive procedures. Its flagship product, Jeuveau (prabotulinumtoxinA-xvfs), is a neuromodulator approved by the U.S. Food and Drug Administration (FDA).
As Evolus navigates its financial and market challenges, the company remains committed to leveraging its expertise in the aesthetic sector to innovate and grow within this rapidly evolving industry.
