Evelo Biosciences Inc (NASDAQ:EVLO) shares rose 14.9% on Wednesday . The company traded as high as $5.38 and last traded at $4.93, approximately 198,214 shares were traded during trading. An increase of 83% from the average daily volume of 108,025 shares. The stock had previously closed at $4.29.

EVLO has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Evelo Biosciences from a “sell” rating to a “hold” rating in a research note on Wednesday, January 8th. Cowen reiterated a “buy” rating on shares of Evelo Biosciences in a research note on Friday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $12.17.

The business’s 50-day moving average price is $4.81 and its 200-day moving average price is $5.69. The company has a debt-to-equity ratio of 0.24, a quick ratio of 10.46 and a current ratio of 10.46. The stock has a market cap of $140.86 million, a P/E ratio of -2.05 and a beta of -0.52.

Evelo Biosciences (NASDAQ:EVLO) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.05). As a group, equities research analysts expect that Evelo Biosciences Inc will post -2.54 earnings per share for the current year.

Several hedge funds have recently modified their holdings of EVLO. Mayo Clinic bought a new stake in shares of Evelo Biosciences during the 4th quarter valued at $1,969,000. Credit Suisse AG grew its position in shares of Evelo Biosciences by 2.5% during the 4th quarter. Credit Suisse AG now owns 1,192,769 shares of the company’s stock valued at $4,843,000 after acquiring an additional 29,460 shares during the period. FMR LLC grew its position in shares of Evelo Biosciences by 0.6% during the 1st quarter. FMR LLC now owns 3,325,107 shares of the company’s stock valued at $26,601,000 after acquiring an additional 19,100 shares during the period. Renaissance Technologies LLC grew its position in shares of Evelo Biosciences by 101.4% during the 4th quarter. Renaissance Technologies LLC now owns 29,200 shares of the company’s stock valued at $119,000 after acquiring an additional 14,700 shares during the period. Finally, BlackRock Inc. grew its position in shares of Evelo Biosciences by 1.3% during the 2nd quarter. BlackRock Inc. now owns 654,753 shares of the company’s stock valued at $5,879,000 after acquiring an additional 8,520 shares during the period. 86.29% of the stock is owned by hedge funds and other institutional investors.

About Evelo Biosciences (NASDAQ:EVLO)

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, which are in Phase 1b placebo-controlled dose-escalating safety and tolerability clinical study for the treatment of atopic dermatitis, asthma, psoriatic arthritis, rheumatoid arthritis, and inflammatory bowel diseases.

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