Evoke Pharma (NASDAQ:EVOK) Share Price Passes Below 50-Day Moving Average – Time to Sell?

Shares of Evoke Pharma, Inc. (NASDAQ:EVOK) passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $4.84 and traded as low as $4.45. Evoke Pharma shares last traded at $4.60, with a volume of 8,296 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Evoke Pharma in a research note on Tuesday. They set a “sell” rating for the company.

Evoke Pharma Trading Down 0.9 %

The company has a market capitalization of $6.84 million, a PE ratio of -0.42 and a beta of 0.15. The business’s fifty day moving average is $4.79 and its two-hundred day moving average is $5.17.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Evoke Pharma stock. Corsair Capital Management L.P. bought a new position in Evoke Pharma, Inc. (NASDAQ:EVOK) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 11,667 shares of the specialty pharmaceutical company’s stock, valued at approximately $56,000. Corsair Capital Management L.P. owned about 1.42% of Evoke Pharma as of its most recent filing with the SEC.

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.