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

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.

Analyst Upgrades and Downgrades

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

Evotec Stock Up 2.9 %

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 stock’s fifty day moving average is $3.77 and its 200-day moving average is $4.20.

Institutional Investors Weigh In On Evotec

Several large investors have recently modified their holdings of the business. Cetera Advisors LLC bought a new position in shares of Evotec during the 1st quarter valued at about $188,000. Vanguard Personalized Indexing Management LLC acquired a new stake in Evotec during the 2nd quarter worth approximately $87,000. DCF Advisers LLC lifted its stake in Evotec by 140.5% in the second 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 in the last quarter. Novo Holdings A S acquired a new position in shares of Evotec in the second quarter valued at approximately $71,183,000. Finally, Mediolanum International Funds Ltd acquired a new position in shares of Evotec in the third quarter valued at approximately $512,000. 5.81% of the stock is currently 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.