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

Evotec SE (NASDAQ:EVO)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $4.70, but opened at $4.57. Evotec shares last traded at $4.57, with a volume of 5,992 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “buy” rating and set a $8.00 target price on shares of Evotec in a research note on Thursday, November 7th.

Evotec Stock Down 4.3 %

The company has a debt-to-equity ratio of 0.43, a current ratio of 2.09 and a quick ratio of 1.99. The stock has a fifty day moving average price of $4.44 and a two-hundred day moving average price of $4.04.

Institutional Investors Weigh In On Evotec

A number of large investors have recently modified their holdings of EVO. Wellington Management Group LLP increased its position in Evotec by 29.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,634,434 shares of the company’s stock valued at $9,616,000 after acquiring an additional 602,858 shares during the period. Mediolanum International Funds Ltd acquired a new stake in Evotec during the third quarter valued at $512,000. Finally, Clear Harbor Asset Management LLC bought a new position in Evotec during the third quarter valued at about $104,000. Institutional investors and hedge funds 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.