Evelo Biosciences (EVLO) Announces Quarterly Earnings Results, Beats Expectations By $0.12 EPS

Evelo Biosciences (NASDAQ:EVLO) announced its quarterly earnings results on Thursday. The company reported ($0.50) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.62) by $0.12, MarketWatch Earnings reports.

NASDAQ:EVLO traded up $0.16 during midday trading on Friday, hitting $9.73. 11,071 shares of the company were exchanged, compared to its average volume of 70,571. Evelo Biosciences has a fifty-two week low of $8.07 and a fifty-two week high of $16.75. The company has a current ratio of 24.08, a quick ratio of 24.08 and a debt-to-equity ratio of 0.09.

Separately, Morgan Stanley lifted their price target on shares of Evelo Biosciences from $29.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, October 11th.

An institutional investor recently bought a new position in Evelo Biosciences stock. Bank of New York Mellon Corp acquired a new position in shares of Evelo Biosciences Inc (NASDAQ:EVLO) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 13,925 shares of the company’s stock, valued at approximately $165,000. 80.44% 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 for patients with psoriasis and atopic dermatitis, rheumatoid arthritis, and ulcerative colitis/crohn's colitis; and EDP1503 for the treatment of colorectal cancer, renal cell carcinoma, and melanoma, as well as patients who have relapsed on prior PD-1/L1 inhibitor treatment across multiple tumor types.

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