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

Evotec SE (NASDAQ:EVO)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $4.71, but opened at $4.61. Evotec shares last traded at $4.61, with a volume of 1,293 shares changing hands.

Analyst Ratings Changes

A number of brokerages recently issued reports on EVO. HC Wainwright reiterated a “buy” rating and issued a $8.00 price target on shares of Evotec in a research note on Thursday, November 7th. Jefferies Financial Group downgraded shares of Evotec from a “buy” rating to a “hold” rating and dropped their target price for the stock from $8.70 to $3.80 in a research note on Monday, October 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Evotec presently has a consensus rating of “Hold” and a consensus target price of $5.93.

Evotec Stock Performance

The company has a current ratio of 2.09, a quick ratio of 1.99 and a debt-to-equity ratio of 0.43. The business has a fifty day moving average price of $4.08 and a 200-day moving average price of $4.15.

Hedge Funds Weigh In On Evotec

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Novo Holdings A S bought a new position in shares of Evotec during the 2nd quarter valued at $71,183,000. Wellington Management Group LLP increased its position in Evotec by 29.7% during the third quarter. Wellington Management Group LLP now owns 2,634,434 shares of the company’s stock valued at $9,616,000 after acquiring an additional 602,858 shares during the last quarter. Mediolanum International Funds Ltd bought a new position in Evotec in the third quarter valued at about $512,000. DCF Advisers LLC lifted its holdings in Evotec by 140.5% in 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. Finally, Clear Harbor Asset Management LLC purchased a new position in Evotec in the third quarter worth about $104,000. Institutional investors own 5.81% of the company’s stock.

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.