Evotec (NASDAQ:EVO) Shares Gap Down – Here’s What Happened

Evotec SE (NASDAQ:EVO) gapped down before the market opened on Tuesday . The stock had previously closed at $4.87, but opened at $4.59. Evotec shares last traded at $4.64, with a volume of 57,696 shares.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on EVO. Deutsche Bank Aktiengesellschaft downgraded Evotec from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Morgan Stanley downgraded Evotec from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $15.00 to $6.00 in a report on Monday, July 29th. HC Wainwright reiterated a “buy” rating and issued a $8.00 price objective on shares of Evotec in a research note on Thursday, November 7th. Finally, Jefferies Financial Group cut shares of Evotec from a “buy” rating to a “hold” rating and reduced their price target for the stock from $8.70 to $3.80 in a report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $5.93.

Evotec Price Performance

The firm has a fifty day simple moving average of $3.54 and a two-hundred day simple moving average of $4.20. The company has a current ratio of 2.09, a quick ratio of 1.73 and a debt-to-equity ratio of 0.43.

Institutional Investors Weigh In On Evotec

Large investors have recently added to or reduced their stakes in the company. Clear Harbor Asset Management LLC purchased a new stake in Evotec in the third quarter worth about $104,000. Mediolanum International Funds Ltd purchased a new stake in Evotec in the third quarter worth about $512,000. Novo Holdings A S purchased a new position in shares of Evotec during the second quarter valued at approximately $71,183,000. DCF Advisers LLC lifted its holdings in shares of Evotec by 140.5% during the second quarter. DCF Advisers LLC now owns 114,953 shares of the company’s stock valued at $552,000 after purchasing an additional 67,156 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in shares of Evotec during the second quarter valued at approximately $87,000. Hedge funds and other institutional investors own 5.81% of the company’s stock.

Evotec Company Profile

Evotec SE operates as drug discovery and development partner for the pharmaceutical and biotechnology industry worldwide. The company is developing pharmaceutical products in various therapeutic areas, such as autoimmune diseases, cancer, CNS diseases, diabetes, fibrosis, immunology, infectious diseases, kidney diseases, liver diseases, pain and inflammation, rare diseases, respiratory diseases, tuberculosis, and women’s health.