Evotec (NASDAQ:EVO) Shares Gap Down to $3.64

Evotec SE (NASDAQ:EVO)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $3.64, but opened at $3.50. Evotec shares last traded at $3.45, with a volume of 5,232 shares traded.

Analyst Upgrades and Downgrades

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

Evotec Stock Performance

The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.73 and a current ratio of 1.83. The firm’s 50 day moving average is $3.85 and its 200 day moving average is $5.19.

Institutional Investors Weigh In On Evotec

Several hedge funds have recently bought and sold shares of EVO. Mubadala Investment Co PJSC purchased a new position in Evotec in the fourth quarter worth about $53,931,000. Cetera Advisors LLC purchased a new position in Evotec in the first quarter worth about $188,000. Optiver Holding B.V. raised its holdings in Evotec by 643.1% in 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 last quarter. DCF Advisers LLC raised its holdings in Evotec by 140.5% in 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. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in Evotec in the second quarter worth about $87,000. 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.