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

Shares of Evotec AG (NASDAQ:EVO) gapped up before the market opened on Tuesday . The stock had previously closed at $2.99, but opened at $3.10. Evotec shares last traded at $3.0950, with a volume of 10,485 shares traded.

Wall Street Analyst Weigh In

EVO has been the subject of a number of recent research reports. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Evotec in a report on Wednesday, September 3rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Evotec in a research report on Monday, December 8th. Finally, Wall Street Zen raised shares of Evotec to a “sell” rating in a research report on Saturday. Two equities 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. Based on data from MarketBeat, Evotec presently has a consensus rating of “Hold” and an average target price of $7.00.

Evotec Trading Up 4.7%

The firm has a fifty day simple moving average of $3.38 and a 200 day simple moving average of $3.70. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.12 and a quick ratio of 2.03.

Institutional Investors Weigh In On Evotec

A number of large investors have recently added to or reduced their stakes in EVO. DCF Advisers LLC raised its position in shares of Evotec by 48.3% in the 2nd quarter. DCF Advisers LLC now owns 1,114,493 shares of the company’s stock worth $4,681,000 after buying an additional 362,914 shares during the period. WCM Investment Management LLC acquired a new position in Evotec in the second quarter worth approximately $1,239,000. Pitcairn Co. purchased a new position in shares of Evotec during the second quarter valued at $1,097,000. ABC Arbitrage SA raised its position in Evotec by 239.0% during the third quarter. ABC Arbitrage SA now owns 132,057 shares of the company’s stock valued at $479,000 after acquiring an additional 93,097 shares in the last quarter. Finally, Envestnet Asset Management Inc. bought a new stake in Evotec during the 2nd quarter valued at approximately $385,000. 5.81% of the stock is owned by institutional investors and hedge funds.

Evotec Company Profile

Evotec SE (NASDAQ:EVO) is a global biotechnology company headquartered in Hamburg, Germany, specializing in drug discovery and development partnerships. The company leverages its integrated discovery platforms to support pharmaceutical and biotech clients in advancing novel therapies from target identification through preclinical development.

Evotec’s service offering encompasses high-throughput screening, bioanalytics, combinatorial chemistry, structural biology, pharmacology, and computational drug design.