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

Evotec SE (NASDAQ:EVO) gapped down prior to trading on Tuesday . The stock had previously closed at $4.89, but opened at $4.72. Evotec shares last traded at $4.68, with a volume of 8,483 shares.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on EVO shares. Jefferies Financial Group lowered shares of Evotec from a “buy” rating to a “hold” rating and cut their price target for the stock from $8.70 to $3.80 in a report 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. Morgan Stanley lowered shares of Evotec from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $15.00 to $6.00 in a report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Evotec from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $5.93.

Evotec Price Performance

The company’s 50 day moving average price is $3.86 and its 200 day moving average price is $4.18. 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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EVO. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Evotec during the second quarter worth about $87,000. Cetera Advisors LLC purchased a new stake in shares of Evotec during the first quarter worth about $188,000. Clear Harbor Asset Management LLC purchased a new stake in shares of Evotec during the third quarter worth about $104,000. DCF Advisers LLC increased its stake in shares of Evotec by 140.5% during the second quarter. DCF Advisers LLC now owns 114,953 shares of the company’s stock worth $552,000 after purchasing an additional 67,156 shares in the last quarter. Finally, Mediolanum International Funds Ltd purchased a new stake in shares of Evotec during the third quarter worth about $512,000. 5.81% of the stock is currently owned by institutional investors and hedge funds.

About Evotec

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.