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

Evotec SE (NASDAQ:EVO)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $4.89, but opened at $4.72. Evotec shares last traded at $4.68, with a volume of 8,483 shares traded.

Analyst Ratings Changes

EVO has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft lowered Evotec from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Jefferies Financial Group lowered Evotec from a “buy” rating to a “hold” rating and reduced their target price for the stock from $8.70 to $3.80 in a report on Monday, October 7th. Finally, HC Wainwright reiterated a “buy” rating and set a $8.00 price target on shares of Evotec in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Evotec has a consensus rating of “Hold” and an average price target of $5.93.

Evotec Stock Up 1.5 %

The firm has a 50-day moving average of $3.88 and a two-hundred day moving average of $4.18. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.99 and a current ratio of 2.09.

Institutional Investors Weigh In On Evotec

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC bought a new stake in Evotec in the 2nd quarter valued at $87,000. Clear Harbor Asset Management LLC acquired a new position in shares of Evotec during the third quarter valued at about $104,000. Cetera Advisors LLC bought a new stake in shares of Evotec in the first quarter valued at about $188,000. Mediolanum International Funds Ltd acquired a new stake in Evotec during the third quarter worth about $512,000. Finally, DCF Advisers LLC increased its stake in 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 acquiring an additional 67,156 shares during the period. Institutional investors and hedge funds 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.