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

Evotec SE (NASDAQ:EVO) shares gapped up before the market opened on Monday . The stock had previously closed at $4.49, but opened at $4.82. Evotec shares last traded at $4.78, with a volume of 11,147 shares traded.

Wall Street Analyst Weigh In

A number of research firms have commented on EVO. HC Wainwright reissued a “buy” rating and set a $8.00 target price on shares of Evotec in a research report on Thursday, November 7th. Jefferies Financial Group downgraded Evotec from a “buy” rating to a “hold” rating and cut their target price for the company from $8.70 to $3.80 in a research report on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Evotec from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Evotec has an average rating of “Hold” and a consensus target price of $5.93.

Evotec Stock Performance

The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.99 and a current ratio of 2.09. The stock has a 50-day moving average price of $3.86 and a 200 day moving average price of $4.18.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Evotec during the second quarter valued at approximately $87,000. Clear Harbor Asset Management LLC purchased a new stake in shares of Evotec during the third quarter worth approximately $104,000. Cetera Advisors LLC acquired a new position in Evotec in the 1st quarter valued at $188,000. Mediolanum International Funds Ltd acquired a new stake in Evotec during the 3rd quarter worth $512,000. Finally, DCF Advisers LLC grew its holdings 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 buying an additional 67,156 shares in the last quarter. Hedge funds and other institutional investors own 5.81% of the company’s stock.

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.