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 the month of 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. Based on an average daily volume of 21,900 shares, the short-interest ratio is presently 1.0 days. Approximately 1.5% of the company’s shares are sold short.

Evoke Pharma Price Performance

Evoke Pharma stock opened at $2.79 on Friday. Evoke Pharma has a twelve month low of $2.50 and a twelve month high of $12.32. The company has a 50 day moving average of $4.25 and a 200-day moving average of $4.63. The stock has a market capitalization of $4.17 million, a PE ratio of -0.25 and a beta of 0.12.

Evoke Pharma (NASDAQ:EVOK) last posted its quarterly earnings data on Thursday, March 13th. The specialty pharmaceutical company reported ($0.49) earnings per share (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 during the quarter, compared to analyst estimates of $3.08 million.

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

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

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.