Evotec (NASDAQ:EVO) Shares Gap Down – Time to Sell?

Shares of Evotec AG (NASDAQ:EVO) gapped down before the market opened on Wednesday . The stock had previously closed at $3.21, but opened at $3.08. Evotec shares last traded at $3.1290, with a volume of 8,136 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on EVO shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Evotec in a report on Monday, November 24th. Royal Bank Of Canada restated an “outperform” rating on shares of Evotec in a research note on Wednesday, September 3rd. Finally, HC Wainwright decreased their price target on shares of Evotec from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, August 14th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $7.00.

Evotec Trading Up 1.3%

The stock’s 50-day simple moving average is $3.58 and its 200-day simple moving average is $3.80. The company has a current ratio of 2.12, a quick ratio of 2.03 and a debt-to-equity ratio of 0.48.

Institutional Trading of Evotec

A number of institutional investors have recently modified their holdings of the stock. Valeo Financial Advisors LLC bought a new position in shares of Evotec in the second quarter worth $43,000. BNP Paribas Financial Markets increased its holdings in Evotec by 62.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 12,000 shares of the company’s stock valued at $50,000 after buying an additional 4,600 shares during the period. Bank of America Corp DE increased its holdings in Evotec by 262.5% in the 4th quarter. Bank of America Corp DE now owns 12,828 shares of the company’s stock valued at $53,000 after buying an additional 9,289 shares during the period. Thrivent Financial for Lutherans acquired a new position in shares of Evotec in the 3rd quarter valued at approximately $53,000. Finally, UMB Bank n.a. bought a new stake in shares of Evotec during the 2nd quarter worth approximately $56,000. 5.81% of the stock is currently owned by institutional investors.

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.