Short Interest in Evoke Pharma, Inc. (NASDAQ:EVOK) Grows By 35.2%

Evoke Pharma, Inc. (NASDAQ:EVOK) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 28,400 shares, an increase of 35.2% from the March 15th total of 21,000 shares. Based on an average daily volume of 17,200 shares, the days-to-cover ratio is currently 1.7 days. Approximately 2.0% of the company’s shares are short sold.

Institutional Investors Weigh In On Evoke Pharma

An institutional investor recently raised its position in Evoke Pharma stock. Nantahala Capital Management LLC lifted its stake in shares of Evoke Pharma, Inc. (NASDAQ:EVOK) by 163.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 148,194 shares of the specialty pharmaceutical company’s stock after acquiring an additional 91,945 shares during the quarter. 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 (SEC).

Evoke Pharma Price Performance

NASDAQ EVOK remained flat at $2.15 during trading on Friday. 7,937 shares of the company’s stock were exchanged, compared to its average volume of 122,455. The company has a 50 day moving average of $3.43 and a 200 day moving average of $4.35. Evoke Pharma has a 52-week low of $1.94 and a 52-week high of $12.32. The stock has a market cap of $3.21 million, a price-to-earnings ratio of -0.20 and a beta of 0.30.

Evoke Pharma (NASDAQ:EVOK) last issued its quarterly earnings results 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). The company had revenue of $3.31 million for the quarter, compared to analyst estimates of $3.08 million. Evoke Pharma had a negative return on equity of 308.49% and a negative net margin of 71.32%.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on Evoke Pharma in a research note on Sunday, April 13th. They issued a “sell” rating for the company.

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.