Evotec (NASDAQ:EVO) Shares Gap Up to $3.41

Evotec SE (NASDAQ:EVO)’s share price gapped up prior to trading on Monday . The stock had previously closed at $3.41, but opened at $3.54. Evotec shares last traded at $3.54, with a volume of 1,996 shares trading hands.

Analyst Ratings Changes

A number of brokerages have issued reports on EVO. Morgan Stanley downgraded Evotec from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $15.00 to $6.00 in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft downgraded Evotec from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Finally, HC Wainwright cut their price objective on shares of Evotec from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, August 15th.

Evotec Stock Performance

The company has a current ratio of 1.83, a quick ratio of 1.73 and a debt-to-equity ratio of 0.42. The stock has a 50-day moving average price of $3.91 and a 200 day moving average price of $5.21.

Institutional Investors Weigh In On Evotec

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EVO. Quadrant Capital Group LLC acquired a new position in shares of Evotec in the 4th quarter valued at $25,000. Vanguard Personalized Indexing Management LLC acquired a new position in Evotec in the second quarter valued at $87,000. Cetera Advisors LLC purchased a new stake in shares of Evotec in the first quarter valued at about $188,000. Optiver Holding B.V. boosted its stake in shares of Evotec by 643.1% during the fourth quarter. Optiver Holding B.V. now owns 80,810 shares of the company’s stock worth $945,000 after buying an additional 69,936 shares during the period. Finally, DCF Advisers LLC grew 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 worth $552,000 after buying an additional 67,156 shares during the last quarter. Hedge funds and other institutional investors own 5.81% of the company’s stock.

About Evotec

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.