Evotec (NASDAQ:EVO) Shares Gap Down – Here’s What Happened

Evotec SE (NASDAQ:EVO)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $5.55, but opened at $5.03. Evotec shares last traded at $5.07, with a volume of 121,125 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Evotec from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Jefferies Financial Group cut Evotec from a “buy” rating to a “hold” rating and dropped their target price for the stock from $8.70 to $3.80 in a report on Monday, October 7th. Morgan Stanley lowered Evotec from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $15.00 to $6.00 in a research note on Monday, July 29th. Finally, HC Wainwright reiterated a “buy” rating and set a $8.00 price objective on shares of Evotec in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.93.

Evotec Stock Up 2.9 %

The company has a current ratio of 2.09, a quick ratio of 1.99 and a debt-to-equity ratio of 0.43. The stock has a fifty day moving average of $3.77 and a two-hundred day moving average of $4.20.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC acquired a new stake in Evotec in the 2nd quarter valued at about $87,000. Clear Harbor Asset Management LLC bought a new position in Evotec in the 3rd quarter worth approximately $104,000. Cetera Advisors LLC acquired a new position in Evotec during the 1st quarter worth $188,000. Mediolanum International Funds Ltd acquired a new position in Evotec during the 3rd quarter worth $512,000. Finally, DCF Advisers LLC boosted its position 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 buying an additional 67,156 shares during the last quarter. 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.