Evotec (NASDAQ:EVO) Shares Gap Down – Time to Sell?

Evotec SE (NASDAQ:EVO) shares gapped down before the market opened on Tuesday . The stock had previously closed at $4.89, but opened at $4.72. Evotec shares last traded at $4.68, with a volume of 8,483 shares.

Wall Street Analyst Weigh In

EVO has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft lowered shares of Evotec from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. HC Wainwright reissued a “buy” rating and issued a $8.00 price target on shares of Evotec in a research report on Thursday, November 7th. Finally, Jefferies Financial Group downgraded Evotec from a “buy” rating to a “hold” rating and decreased their price objective for the company from $8.70 to $3.80 in a report on Monday, October 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $5.93.

Evotec Stock Performance

The company’s 50 day moving average price is $3.88 and its 200 day moving average price is $4.18. The company has a quick ratio of 1.99, a current ratio of 2.09 and a debt-to-equity ratio of 0.43.

Institutional Trading of Evotec

Large investors have recently added to or reduced their stakes in the company. Novo Holdings A S bought a new position in shares of Evotec in the second quarter valued at approximately $71,183,000. Wellington Management Group LLP raised its position in Evotec by 29.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,634,434 shares of the company’s stock valued at $9,616,000 after purchasing an additional 602,858 shares during the last quarter. Mediolanum International Funds Ltd acquired a new position in Evotec in the third quarter worth $512,000. DCF Advisers LLC grew its holdings in shares of Evotec by 140.5% during the second quarter. DCF Advisers LLC now owns 114,953 shares of the company’s stock worth $552,000 after purchasing an additional 67,156 shares during the last quarter. Finally, Clear Harbor Asset Management LLC acquired a new stake in shares of Evotec in the third quarter valued at $104,000. 5.81% of the stock is 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.