Evotec (NASDAQ:EVO) Shares Gap Down to $3.80

Evotec SE (NASDAQ:EVO) gapped down before the market opened on Wednesday . The stock had previously closed at $3.80, but opened at $3.65. Evotec shares last traded at $3.59, with a volume of 25,064 shares.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Evotec from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Morgan Stanley cut shares of Evotec from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $15.00 to $6.00 in a report on Monday, July 29th. Finally, HC Wainwright cut their price target on shares of Evotec from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, August 15th.

Evotec Stock Down 5.3 %

The company has a quick ratio of 1.79, a current ratio of 1.86 and a debt-to-equity ratio of 0.43. The firm has a 50 day simple moving average of $4.31 and a 200 day simple moving average of $5.62.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EVO. Quadrant Capital Group LLC bought a new stake in Evotec during the fourth quarter valued at $25,000. Vanguard Personalized Indexing Management LLC purchased a new position in Evotec in the 2nd quarter worth approximately $87,000. Cetera Advisors LLC bought a new position in shares of Evotec in the 1st quarter worth $188,000. DCF Advisers LLC boosted its holdings in shares of 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, Optiver Holding B.V. grew its position in Evotec by 643.1% during the fourth quarter. Optiver Holding B.V. now owns 80,810 shares of the company’s stock valued at $945,000 after acquiring an additional 69,936 shares during the last quarter. 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.