Evotec (NASDAQ:EVO) Shares Gap Up to $3.41

Evotec SE (NASDAQ:EVO) shares gapped up before the market opened on Monday . The stock had previously closed at $3.41, but opened at $3.54. Evotec shares last traded at $3.54, with a volume of 1,996 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on EVO. Deutsche Bank Aktiengesellschaft lowered Evotec from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. HC Wainwright cut their price target on shares of Evotec from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Finally, Morgan Stanley cut shares of Evotec from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $15.00 to $6.00 in a research note on Monday, July 29th.

Evotec Stock Down 1.4 %

The company has a fifty day moving average price of $3.98 and a 200-day moving average price of $5.26. The company has a quick ratio of 1.73, a current ratio of 1.83 and a debt-to-equity ratio of 0.42.

Hedge Funds Weigh In On Evotec

Several institutional investors have recently made changes to their positions in the company. Quadrant Capital Group LLC acquired a new position in shares of Evotec in the fourth quarter worth about $25,000. Vanguard Personalized Indexing Management LLC acquired a new stake in Evotec in the second quarter valued at approximately $87,000. Cetera Advisors LLC purchased a new stake in shares of Evotec in the first quarter valued at approximately $188,000. Optiver Holding B.V. raised its stake in shares of Evotec by 643.1% during the 4th quarter. Optiver Holding B.V. now owns 80,810 shares of the company’s stock worth $945,000 after buying an additional 69,936 shares during the period. Finally, DCF Advisers LLC lifted its position in shares of Evotec by 140.5% during the 2nd 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. 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.