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

Evotec SE (NASDAQ:EVO)’s stock price gapped down before the market opened 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 traded.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on EVO. HC Wainwright lowered their price objective 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. Deutsche Bank Aktiengesellschaft lowered shares of Evotec from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Morgan Stanley downgraded Evotec from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $15.00 to $6.00 in a research note on Monday, July 29th. Finally, Jefferies Financial Group downgraded Evotec from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $8.70 to $3.80 in a research note on Monday, October 7th. One investment 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 has a consensus rating of “Hold” and a consensus price target of $5.93.

Evotec Stock Down 2.0 %

The stock’s 50-day simple moving average is $3.38 and its 200-day simple moving average is $4.69. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.83 and a quick ratio of 1.73.

Hedge Funds Weigh In On Evotec

Institutional investors have recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC bought a new stake in Evotec in the second quarter worth about $87,000. Cetera Advisors LLC bought a new stake in shares of Evotec in the 1st quarter worth approximately $188,000. DCF Advisers LLC raised 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 during the period. Finally, Novo Holdings A S bought a new position in Evotec during the second quarter valued at $71,183,000. 5.81% of the stock is owned by institutional investors.

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.