Evotec (NASDAQ:EVO) Shares Gap Down – Should You Sell?

Evotec SE (NASDAQ:EVO)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $4.88, but opened at $4.52. Evotec shares last traded at $4.58, with a volume of 143,830 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on EVO shares. HC Wainwright reiterated a “buy” rating and issued a $8.00 price objective on shares of Evotec in a report on Thursday, November 7th. Jefferies Financial Group cut Evotec from a “buy” rating to a “hold” rating and decreased their price target for the stock from $8.70 to $3.80 in a research note on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.93.

Evotec Stock Down 7.0 %

The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.99 and a current ratio of 2.09. The stock’s fifty day moving average price is $4.50 and its two-hundred day moving average price is $4.14.

Institutional Investors Weigh In On Evotec

Large investors have recently made changes to their positions in the business. Vanguard Personalized Indexing Management LLC bought a new position in shares of Evotec during the second quarter valued at approximately $87,000. Clear Harbor Asset Management LLC bought a new stake in Evotec in the third quarter valued at $104,000. Mediolanum International Funds Ltd purchased a new position in Evotec during the 3rd quarter valued at $512,000. DCF Advisers LLC raised its holdings in Evotec by 140.5% in the 2nd quarter. DCF Advisers LLC now owns 114,953 shares of the company’s stock worth $552,000 after purchasing an additional 67,156 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Evotec by 29.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,634,434 shares of the company’s stock worth $9,616,000 after purchasing an additional 602,858 shares during the period. 5.81% of the stock is currently owned by 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.