Evotec (NASDAQ:EVO) Hits New 52-Week Low – Time to Sell?

Shares of Evotec AG (NASDAQ:EVO) hit a new 52-week low during trading on Wednesday . The company traded as low as $1.95 and last traded at $1.96, with a volume of 7049 shares trading hands. The stock had previously closed at $2.00.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on EVO. Wall Street Zen cut shares of Evotec from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. TD Cowen downgraded Evotec from a “buy” rating to a “hold” rating and set a $2.00 price target on the stock. in a research report on Wednesday, July 15th. Berenberg Bank downgraded Evotec from a “buy” rating to a “hold” rating in a research report on Thursday, July 16th. HC Wainwright decreased their target price on shares of Evotec from $7.00 to $4.00 and set a “buy” rating on the stock in a research report on Wednesday, July 15th. Finally, Weiss Ratings raised shares of Evotec from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, April 24th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $3.00.

Evotec Stock Performance

The company has a quick ratio of 1.60, a current ratio of 1.68 and a debt-to-equity ratio of 0.43. The firm’s fifty day simple moving average is $2.70 and its 200 day simple moving average is $3.00.

Institutional Investors Weigh In On Evotec

Large investors have recently modified their holdings of the business. Optiver Holding B.V. increased its stake in shares of Evotec by 598.4% in the 1st quarter. Optiver Holding B.V. now owns 283,576 shares of the company’s stock valued at $709,000 after purchasing an additional 242,973 shares during the last quarter. WCM Investment Management LLC lifted its position in shares of Evotec by 12.1% during the 1st quarter. WCM Investment Management LLC now owns 627,260 shares of the company’s stock worth $1,480,000 after buying an additional 67,917 shares during the last quarter. Apollon Wealth Management LLC bought a new stake in shares of Evotec during the 1st quarter worth $28,000. SmartHarvest Portfolios LLC acquired a new stake in Evotec in the first quarter valued at about $44,000. Finally, XTX Topco Ltd boosted its stake in Evotec by 25.1% in the fourth quarter. XTX Topco Ltd now owns 18,469 shares of the company’s stock valued at $57,000 after buying an additional 3,709 shares in the last quarter. Institutional investors and hedge funds own 5.81% of the company’s stock.

About Evotec

Evotec SE (NASDAQ:EVO) is a global biotechnology company headquartered in Hamburg, Germany, specializing in drug discovery and development partnerships. The company leverages its integrated discovery platforms to support pharmaceutical and biotech clients in advancing novel therapies from target identification through preclinical development.

Evotec’s service offering encompasses high-throughput screening, bioanalytics, combinatorial chemistry, structural biology, pharmacology, and computational drug design.