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

Evotec SE (NASDAQ:EVO)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $5.55, but opened at $5.03. Evotec shares last traded at $5.07, with a volume of 121,125 shares trading hands.

Analysts Set New Price Targets

Several brokerages have commented on EVO. Deutsche Bank Aktiengesellschaft downgraded Evotec from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Jefferies Financial Group cut shares of Evotec from a “buy” rating to a “hold” rating and reduced their price objective for the company from $8.70 to $3.80 in a research note on Monday, October 7th. HC Wainwright reiterated a “buy” rating and issued a $8.00 target price on shares of Evotec in a research note on Thursday, November 7th. Finally, Morgan Stanley lowered shares of Evotec from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $15.00 to $6.00 in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $5.93.

Evotec Trading Down 7.4 %

The company’s 50-day moving average is $3.66 and its two-hundred day moving average is $4.19. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.09 and a quick ratio of 1.99.

Institutional Trading of Evotec

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC bought a new position in shares of Evotec during the 2nd quarter valued at about $87,000. Clear Harbor Asset Management LLC purchased a new stake in shares of Evotec in the 3rd quarter valued at $104,000. Cetera Advisors LLC purchased a new position in Evotec in the 1st quarter worth $188,000. Mediolanum International Funds Ltd bought a new stake in Evotec in the third quarter worth $512,000. Finally, DCF Advisers LLC boosted 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 buying an additional 67,156 shares during the period. Hedge funds and other 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.