Evotec (NASDAQ:EVO) Shares Gap Down – Time to Sell?

by · The Markets Daily

Shares of Evotec AG (NASDAQ:EVO – Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $3.21, but opened at $3.08. Evotec shares last traded at $3.1290, with a volume of 8,136 shares.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. HC Wainwright reduced their target price on shares of Evotec from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, August 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Evotec in a research report on Monday, November 24th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Evotec in a report on Wednesday, September 3rd. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $7.00.

View Our Latest Research Report on Evotec

Evotec Trading Down 1.2%

The company has a current ratio of 2.12, a quick ratio of 2.03 and a debt-to-equity ratio of 0.48. The company has a fifty day moving average of $3.59 and a 200 day moving average of $3.80.

Institutional Investors Weigh In On Evotec

Several hedge funds and other institutional investors have recently bought and sold shares of EVO. Valeo Financial Advisors LLC bought a new position in shares of Evotec during the 2nd quarter valued at about $43,000. BNP Paribas Financial Markets lifted its stake in Evotec by 62.2% during the second quarter. BNP Paribas Financial Markets now owns 12,000 shares of the company’s stock valued at $50,000 after purchasing an additional 4,600 shares during the last quarter. Bank of America Corp DE lifted its stake in Evotec by 262.5% during the fourth quarter. Bank of America Corp DE now owns 12,828 shares of the company’s stock valued at $53,000 after purchasing an additional 9,289 shares during the last quarter. UMB Bank n.a. bought a new stake in Evotec during the second quarter worth approximately $56,000. Finally, Thrivent Financial for Lutherans acquired a new position in Evotec in the third quarter worth approximately $53,000. 5.81% of the stock is currently owned by institutional investors.

About Evotec

(Get Free Report)

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.

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