Top 10 Holdings of Caligan Partners

4. Evolus, Inc. (NASDAQ:EOLS)

Caligan Partners’ Equity Stake: $26.44 Million

Number of Hedge Fund Holders: 24

While Evolus, Inc. (NASDAQ:EOLS) operates in the healthcare sector, it specializes in developing and commercializing beauty products to enhance adult appearances. The beauty company is flexing its muscle in the aesthetics markets, focusing on the next generation of beauty consumers.

Evolus, Inc. (NASDAQ:EOLS) has been up by more than 20% for the year. The rally comes on the company delivering impressive Q1 2024 results whereby revenues were up by 42% to $59.3 million, affirming it is on course to achieve $700 million in revenue by 2028. Evolus, Inc. (NASDAQ:EOLS) is also on track to achieve profitability in Q4 and full-year profit by 2025.

Another factor boosting the beauty company’s rise is the report that its Jeuveau (DWP-450) (prabotulinumtoxinA) is expected to be a strong competitor to Allergan’s Botox (botulinum toxin type A) for treating severe glabellar (frown) lines. A total of 24 hedge funds tracked by Insider Monkey held stakes in Evolus, Inc. (NASDAQ:EOLS) in Q1 2024.