Evotec (NASDAQ:EVO) Shares Gap Down – What’s Next?

Evotec SE (NASDAQ:EVO)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $4.78, but opened at $4.59. Evotec shares last traded at $4.57, with a volume of 22,157 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Jefferies Financial Group downgraded shares of Evotec from a “buy” rating to a “hold” rating and cut their price objective for the stock from $8.70 to $3.80 in a report on Monday, October 7th. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Evotec in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Evotec has an average rating of “Hold” and an average target price of $5.93.

Evotec Stock Up 1.6 %

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 firm has a 50-day moving average price of $4.30 and a 200-day moving average price of $4.14.

Institutional Investors Weigh In On Evotec

Hedge funds have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC bought a new position in Evotec during the second quarter worth about $87,000. Clear Harbor Asset Management LLC purchased a new stake in shares of Evotec during the 3rd quarter valued at approximately $104,000. DCF Advisers LLC boosted 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 buying an additional 67,156 shares during the period. Mediolanum International Funds Ltd purchased a new position in Evotec in the 3rd quarter valued at approximately $512,000. Finally, Wellington Management Group LLP raised its holdings in Evotec by 29.7% during the 3rd 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 period. 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.