Evotec (NASDAQ:EVO) Shares Gap Down to $3.51

Evotec SE (NASDAQ:EVO)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $3.51, but opened at $3.35. Evotec shares last traded at $3.30, with a volume of 10,198 shares.

Analyst Upgrades and Downgrades

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

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 has a 50 day moving average of $3.66 and a 200-day moving average of $4.98.

Hedge Funds Weigh In On Evotec

Several institutional investors have recently bought and sold shares of the stock. Novo Holdings A S bought a new stake in Evotec in the 2nd quarter worth approximately $71,183,000. Mubadala Investment Co PJSC purchased a new stake in Evotec during the fourth quarter valued at $53,931,000. DCF Advisers LLC lifted its position 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 purchasing an additional 67,156 shares during the last quarter. Optiver Holding B.V. grew its stake in shares of Evotec by 643.1% in the 4th 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 in the last quarter. Finally, Cetera Advisors LLC bought a new stake in shares of Evotec in the 1st quarter worth about $188,000. 5.81% of the stock is owned by hedge funds and other institutional investors.

Evotec Company Profile

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.