Evotec (NASDAQ:EVO) Shares Gap Down – What’s Next?

Evotec SE (NASDAQ:EVO)’s share 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 changing hands.

Analyst Upgrades and Downgrades

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

Evotec Trading Down 7.6 %

The company has a current ratio of 2.09, a quick ratio of 1.99 and a debt-to-equity ratio of 0.43. The stock’s 50-day simple moving average is $4.47 and its 200-day simple moving average is $4.14.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC acquired a new stake in Evotec during the second quarter worth about $87,000. Clear Harbor Asset Management LLC bought a new position in Evotec in the third quarter valued at approximately $104,000. Mediolanum International Funds Ltd acquired a new position in Evotec during the third quarter valued at approximately $512,000. DCF Advisers LLC raised its position in Evotec by 140.5% during the second quarter. DCF Advisers LLC now owns 114,953 shares of the company’s stock valued at $552,000 after purchasing an additional 67,156 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in 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 last quarter. Institutional investors own 5.81% of the company’s stock.

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.