Evotec (NASDAQ:EVO) Shares Gap Down – Should You Sell?

by · The Cerbat Gem

Evotec SE (NASDAQ:EVO – Get Free Report)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $4.88, but opened at $4.52. Evotec shares last traded at $4.58, with a volume of 143,830 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have commented on EVO. HC Wainwright reissued a “buy” rating and set a $8.00 target price on shares of Evotec in a research note on Thursday, November 7th. Jefferies Financial Group downgraded shares of Evotec from a “buy” rating to a “hold” rating and dropped their price objective for the company from $8.70 to $3.80 in a research note on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $5.93.

Check Out Our Latest Stock Analysis on EVO

Evotec Trading Down 7.6 %

The firm’s 50 day moving average is $4.47 and its two-hundred day moving average is $4.14. The company has a quick ratio of 1.99, a current ratio of 2.09 and a debt-to-equity ratio of 0.43.

Hedge Funds Weigh In On Evotec

Hedge funds have recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC bought a new position in shares of Evotec in the 2nd quarter worth about $87,000. Clear Harbor Asset Management LLC acquired a new position in Evotec during the 3rd quarter worth approximately $104,000. Mediolanum International Funds Ltd acquired a new stake in Evotec in the third quarter valued at approximately $512,000. DCF Advisers LLC grew 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 acquiring an additional 67,156 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of Evotec by 29.7% during the third quarter. Wellington Management Group LLP now owns 2,634,434 shares of the company’s stock worth $9,616,000 after purchasing an additional 602,858 shares during the period. 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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