Evotec (NASDAQ:EVO) Trading Down 3% – Should You Sell?

by · The Markets Daily

Shares of Evotec SE (NASDAQ:EVO – Get Free Report) fell 3% on Thursday . The company traded as low as $4.84 and last traded at $4.85. 4,094 shares changed hands during mid-day trading, a decline of 97% from the average session volume of 139,651 shares. The stock had previously closed at $5.00.

Wall Street Analyst Weigh In

A number of research firms have issued reports on EVO. Jefferies Financial Group lowered shares of Evotec from a “buy” rating to a “hold” rating and reduced their target price for the company from $8.70 to $3.80 in a research note on Monday, October 7th. HC Wainwright reiterated a “buy” rating and set a $8.00 price target on shares of Evotec in a research report on Thursday, November 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 company’s stock. According to data from MarketBeat.com, Evotec currently has a consensus rating of “Hold” and a consensus target price of $5.93.

Check Out Our Latest Stock Analysis on Evotec

Evotec Stock Performance

The company’s 50-day simple moving average is $4.40 and its 200 day simple moving average is $4.13. The company has a current ratio of 2.09, a quick ratio of 1.99 and a debt-to-equity ratio of 0.43.

Hedge Funds Weigh In On Evotec

Institutional investors have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Evotec during the 2nd quarter worth approximately $87,000. Clear Harbor Asset Management LLC bought a new position in Evotec in the third quarter valued at about $104,000. Mediolanum International Funds Ltd acquired a new position in shares of Evotec during the third quarter worth $512,000. DCF Advisers LLC raised its position in Evotec by 140.5% during the 2nd quarter. DCF Advisers LLC now owns 114,953 shares of the company’s stock worth $552,000 after purchasing an additional 67,156 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in Evotec by 29.7% in 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 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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