Short Interest in Evoke Pharma, Inc. (NASDAQ:EVOK) Declines By 32.7%

Evoke Pharma, Inc. (NASDAQ:EVOK) was the target of a significant decline in short interest in March. As of March 15th, there was short interest totalling 21,000 shares, a decline of 32.7% from the February 28th total of 31,200 shares. Currently, 1.5% of the company’s shares are short sold. Based on an average daily volume of 21,900 shares, the days-to-cover ratio is currently 1.0 days.

Institutional Trading of Evoke Pharma

An institutional investor recently raised its position in Evoke Pharma stock. Nantahala Capital Management LLC boosted its holdings in Evoke Pharma, Inc. (NASDAQ:EVOK) by 163.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 148,194 shares of the specialty pharmaceutical company’s stock after buying an additional 91,945 shares during the period. Nantahala Capital Management LLC owned approximately 9.95% of Evoke Pharma worth $655,000 as of its most recent filing with the Securities and Exchange Commission.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Evoke Pharma in a research note on Friday. They set a “sell” rating on the stock.

Evoke Pharma Stock Performance

NASDAQ:EVOK opened at $2.75 on Tuesday. Evoke Pharma has a 52 week low of $2.50 and a 52 week high of $12.32. The firm has a 50-day moving average price of $4.22 and a two-hundred day moving average price of $4.62. The firm has a market cap of $4.11 million, a price-to-earnings ratio of -0.25 and a beta of 0.12.

Evoke Pharma (NASDAQ:EVOK) last issued its quarterly earnings results on Thursday, March 13th. The specialty pharmaceutical company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.24). Evoke Pharma had a negative net margin of 71.32% and a negative return on equity of 308.49%. The business had revenue of $3.31 million for the quarter, compared to analysts’ expectations of $3.08 million.

About Evoke Pharma

Evoke Pharma, Inc, a specialty pharmaceutical company, primarily focuses on the development and commercialization of drugs for the treatment of gastroenterological disorders and diseases. It offers Gimoti, a metoclopramide nasal spray to treat symptoms associated with acute and recurrent diabetic gastroparesis in adults.