FMR LLC Acquires Significant Stake in Evelo Biosciences Inc
On July 31, 2023, FMR LLC (Trades, Portfolio), a renowned investment firm, added a substantial number of shares in Evelo Biosciences Inc to its portfolio. This article provides an in-depth analysis of the transaction, profiles of the involved parties, and an overview of Evelo Biosciences Inc's financial performance and stock analysis.
Transaction Details
FMR LLC (Trades, Portfolio) acquired 2,325,827 shares of Evelo Biosciences Inc (NASDAQ:EVLO) on July 31, 2023, at a price of $10.47 per share. This transaction increased FMR LLC (Trades, Portfolio)'s total holdings in EVLO to 2,452,252 shares, representing 14.75% of the company's stock. However, the impact of this transaction on FMR LLC (Trades, Portfolio)'s portfolio is currently not applicable.
Profile of FMR LLC (Trades, Portfolio)
FMR LLC (Trades, Portfolio), also known as Fidelity, is a leading investment firm founded in 1946 by Edward C. Johnson II. The firm's investment philosophy is rooted in taking risks and buying stocks with growth potential. Fidelity's top holdings include Apple Inc (NASDAQ:AAPL), Amazon.com Inc (NASDAQ:AMZN), Meta Platforms Inc (NASDAQ:META), Microsoft Corp (NASDAQ:MSFT), and NVIDIA Corp (NASDAQ:NVDA). The firm's equity stands at a staggering $1,090.64 trillion, with a strong focus on the Technology and Healthcare sectors.
Overview of Evelo Biosciences Inc
Evelo Biosciences Inc (NASDAQ:EVLO) is a US-based biotechnology company engaged in developing orally delivered investigational medicines intended to act on cells in the small intestine to produce therapeutic effects throughout the body. The company's market cap stands at $183.201 million. Its lead product candidate, EDP1815, is under development for the treatment of inflammatory diseases and the hyperinflammatory response associated with COVID-19.
As of the date of this article, EVLO's stock price is $9.75, representing a -6.88% change since the transaction and a -96.95% change since its IPO on May 9, 2018. The company's GF Score is 31/100, indicating poor future performance potential. Its Financial Strength and Profitability Rank are 4/10 and 2/10, respectively. The company's Growth Rank is currently not applicable.
Stock Analysis
Evelo Biosciences Inc's stock analysis reveals a Piotroski F-Score of 2, indicating poor business operations. The company's Altman Z score is 0.00, suggesting potential bankruptcy risk. Its cash to debt ratio is 0.54, ranking 1340th in the industry. The company's interest coverage and ROE are currently not applicable, while its ROA stands at -151.33, ranking 1444th in the industry.
Largest Guru Holding Evelo Biosciences Inc
Leucadia National is currently the guru with the most shares in Evelo Biosciences Inc. However, the exact share percentage is currently not available.
Conclusion
FMR LLC (Trades, Portfolio)'s acquisition of Evelo Biosciences Inc shares is a significant move that could potentially influence the stock's performance and the firm's portfolio. However, given Evelo Biosciences Inc's current financial performance and stock analysis, investors should exercise caution and conduct thorough research before making investment decisions.
This article first appeared on GuruFocus.
