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

Shares of Evotec SE (NASDAQ:EVO) gapped down prior to trading on Monday . The stock had previously closed at $3.14, but opened at $2.97. Evotec shares last traded at $2.98, with a volume of 48,246 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have commented on EVO. Jefferies Financial Group downgraded Evotec from a “buy” rating to a “hold” rating and reduced their price objective for the company from $8.70 to $3.80 in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft downgraded Evotec from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Morgan Stanley cut shares of Evotec from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $15.00 to $6.00 in a research note on Monday, July 29th. Finally, HC Wainwright reduced their target price on shares of Evotec from $11.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $5.93.

Evotec Price Performance

The company has a debt-to-equity ratio of 0.42, a current ratio of 1.83 and a quick ratio of 1.73. The company has a 50-day simple moving average of $3.41 and a 200-day simple moving average of $4.72.

Institutional Trading of Evotec

Several hedge funds and other institutional investors have recently made changes to their positions in EVO. Novo Holdings A S acquired a new stake in Evotec in the second quarter valued at $71,183,000. DCF Advisers LLC grew its stake in Evotec by 140.5% in the 2nd 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 last quarter. Cetera Advisors LLC purchased a new position in Evotec during the 1st quarter valued at about $188,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in Evotec during the 2nd quarter valued at about $87,000. 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.