Evotec (NASDAQ:EVO) Shares Gap Down to $7.24

Shares of Evotec SE (NASDAQ:EVO) gapped down prior to trading on Thursday . The stock had previously closed at $7.24, but opened at $7.04. Evotec shares last traded at $7.03, with a volume of 6,390 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Royal Bank of Canada upgraded Evotec from a “sector perform” rating to an “outperform” rating in a report on Thursday, January 18th. Deutsche Bank Aktiengesellschaft raised shares of Evotec from a “hold” rating to a “buy” rating in a research report on Friday, April 12th.

Evotec Trading Down 0.7 %

The company’s 50-day moving average price is $7.39 and its 200 day moving average price is $8.76.

Institutional Trading of Evotec

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EVO. Quadrant Capital Group LLC purchased a new stake in Evotec in the fourth quarter valued at approximately $25,000. Optiver Holding B.V. raised its position in Evotec by 643.1% in the fourth quarter. Optiver Holding B.V. now owns 80,810 shares of the company’s stock valued at $945,000 after purchasing an additional 69,936 shares during the period. OLD Mission Capital LLC purchased a new stake in Evotec in the fourth quarter valued at approximately $141,000. Finally, Mubadala Investment Co PJSC purchased a new stake in Evotec in the fourth quarter valued at approximately $53,931,000. 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 diabetes and complications, fibrosis, infectious diseases, CNS diseases, oncology, pain and inflammation, immunology, rare diseases, respiratory diseases, and women's health.