Evotec SE (NASDAQ:EVO) Sees Significant Decrease in Short Interest

Evotec SE (NASDAQ:EVO) saw a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 220,100 shares, a drop of 10.7% from the October 15th total of 246,500 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily volume of 138,900 shares, the days-to-cover ratio is presently 1.6 days.

Wall Street Analyst Weigh In

EVO has been the topic of a number of recent analyst reports. Morgan Stanley lowered shares of Evotec from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $15.00 to $6.00 in a research report on Monday, July 29th. Jefferies Financial Group downgraded shares of 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. Deutsche Bank Aktiengesellschaft downgraded shares of Evotec from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Finally, HC Wainwright restated a “buy” rating and issued a $8.00 price objective on shares of Evotec in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $5.93.

Evotec Price Performance

Shares of Evotec stock traded up $0.34 during midday trading on Friday, hitting $5.44. The company had a trading volume of 1,160,733 shares, compared to its average volume of 309,637. The business’s 50 day simple moving average is $3.66 and its two-hundred day simple moving average is $4.19. The company has a current ratio of 2.09, a quick ratio of 1.99 and a debt-to-equity ratio of 0.43. Evotec has a 1-year low of $2.85 and a 1-year high of $12.00.

Institutional Investors Weigh In On Evotec

A number of institutional investors have recently bought and sold shares of EVO. Vanguard Personalized Indexing Management LLC acquired a new stake in Evotec during the second quarter worth $87,000. Clear Harbor Asset Management LLC acquired a new stake in Evotec during the third quarter worth $104,000. Cetera Advisors LLC acquired a new stake in Evotec during the first quarter worth $188,000. Mediolanum International Funds Ltd acquired a new stake in Evotec during the third quarter worth $512,000. Finally, DCF Advisers LLC boosted its stake in 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 buying an additional 67,156 shares in the last quarter. Institutional investors and hedge funds 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.