Evofem Biosciences Inc (NASDAQ:EVFM) Short Interest Update

Evofem Biosciences Inc (NASDAQ:EVFM) saw a significant increase in short interest during the month of June. As of June 30th, there was short interest totalling 240,600 shares, an increase of 8.5% from the May 30th total of 221,700 shares. Based on an average daily trading volume, of 142,600 shares, the short-interest ratio is currently 1.7 days. Approximately 1.0% of the shares of the stock are short sold.

EVFM opened at $4.73 on Wednesday. The business’s fifty day moving average price is $5.90. The stock has a market cap of $221.11 million, a P/E ratio of -0.82 and a beta of 0.66. Evofem Biosciences has a 52 week low of $1.79 and a 52 week high of $7.24.

Evofem Biosciences (NASDAQ:EVFM) last announced its earnings results on Tuesday, May 7th. The biotechnology company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.05). Research analysts expect that Evofem Biosciences will post -1.47 EPS for the current fiscal year.

Several equities research analysts have recently issued reports on EVFM shares. HC Wainwright set a $55.00 price objective on Acer Therapeutics and gave the company a “buy” rating in a research note on Tuesday, May 28th. Oppenheimer set a $42.00 price objective on Portola Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, April 12th. Zacks Investment Research lowered ExlService from a “hold” rating to a “sell” rating in a research note on Wednesday, July 10th. ValuEngine raised USINAS SIDERURG/S from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Finally, Cantor Fitzgerald set a $9.00 price objective on Evofem Biosciences and gave the company a “buy” rating in a research note on Friday, April 12th. Five analysts have rated the stock with a buy rating, Evofem Biosciences presently has an average rating of “Buy” and an average target price of $8.63.

In other news, major shareholder Pdl Biopharma, Inc. purchased 6,666,667 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was bought at an average cost of $4.50 per share, with a total value of $30,000,001.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 13.40% of the stock is currently owned by corporate insiders.

An institutional investor recently raised its position in Evofem Biosciences stock. Geode Capital Management LLC grew its position in shares of Evofem Biosciences Inc (NASDAQ:EVFM) by 115.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,650 shares of the biotechnology company’s stock after purchasing an additional 39,425 shares during the period. Geode Capital Management LLC owned approximately 0.28% of Evofem Biosciences worth $308,000 as of its most recent SEC filing. 65.24% of the stock is currently owned by institutional investors.

Evofem Biosciences Company Profile

Evofem Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes women's sexual and reproductive health products. Its lead product candidate is Amphora, a non-hormonal woman-controlled vaginal gel, which is in Phase 3 clinical trial for the prevention of pregnancy; and in Phase 2b trial for the prevention of chlamydia and gonorrhea in women.

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