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

Evotec SE (NASDAQ:EVO)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $4.78, but opened at $4.59. Evotec shares last traded at $4.57, with a volume of 22,157 shares traded.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Jefferies Financial Group cut shares of Evotec from a “buy” rating to a “hold” rating and reduced their price objective for the company from $8.70 to $3.80 in a research note on Monday, October 7th. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price target on shares of Evotec in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the 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 Performance

The company’s 50-day moving average price is $4.30 and its two-hundred day moving average price is $4.14. The company has a current ratio of 2.09, a quick ratio of 1.99 and a debt-to-equity ratio of 0.43.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Wellington Management Group LLP boosted its holdings in Evotec by 29.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,634,434 shares of the company’s stock valued at $9,616,000 after acquiring an additional 602,858 shares during the period. Clear Harbor Asset Management LLC bought a new position in shares of Evotec during the third quarter valued at approximately $104,000. Mediolanum International Funds Ltd purchased a new stake in shares of Evotec in the 3rd quarter worth about $512,000. Novo Holdings A S purchased a new stake in Evotec in the second quarter worth about $71,183,000. Finally, DCF Advisers LLC raised its position 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 acquiring an additional 67,156 shares in the last quarter. 5.81% of the stock is owned by hedge funds and other 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.