Evotec (NASDAQ:EVO) Shares Gap Down – Should You Sell?

Evotec AG (NASDAQ:EVO) gapped down prior to trading on Friday . The stock had previously closed at $1.96, but opened at $1.9191. Evotec shares last traded at $1.92, with a volume of 4,361 shares trading hands.

Analysts Set New Price Targets

EVO has been the subject of a number of research reports. HC Wainwright cut their target price on shares of Evotec from $7.00 to $4.00 and set a “buy” rating for the company in a research report on Wednesday, July 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Evotec in a research note on Tuesday, July 21st. Berenberg Bank lowered Evotec from a “buy” rating to a “hold” rating in a research note on Thursday, July 16th. Wall Street Zen cut Evotec from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, TD Cowen downgraded Evotec from a “buy” rating to a “hold” rating and set a $2.00 price target for the company. in a research report on Wednesday, July 15th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $3.00.

Evotec Stock Performance

The business has a 50 day simple moving average of $2.32 and a two-hundred day simple moving average of $2.75. The company has a current ratio of 2.33, a quick ratio of 2.21 and a debt-to-equity ratio of 0.62.

Institutional Trading of Evotec

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ABC Arbitrage SA increased its position in Evotec by 319.7% during the fourth quarter. ABC Arbitrage SA now owns 554,287 shares of the company’s stock worth $1,707,000 after purchasing an additional 422,230 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Evotec by 25.7% in the 4th quarter. Wellington Management Group LLP now owns 1,797,444 shares of the company’s stock valued at $5,536,000 after purchasing an additional 367,545 shares during the last quarter. Optiver Holding B.V. grew its stake in shares of Evotec by 598.4% during the 1st quarter. Optiver Holding B.V. now owns 283,576 shares of the company’s stock valued at $709,000 after buying an additional 242,973 shares during the period. Jane Street Group LLC acquired a new stake in shares of Evotec during the 4th quarter worth $565,000. Finally, Millennium Management LLC acquired a new stake in shares of Evotec during the 4th quarter worth $317,000. Hedge funds and other institutional investors own 5.81% of the company’s stock.

Evotec Company Profile

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.