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

Evotec AG (NASDAQ:EVO) gapped down prior to trading on Wednesday . The stock had previously closed at $3.87, but opened at $3.70. Evotec shares last traded at $3.6190, with a volume of 24,523 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on EVO shares. Weiss Ratings restated a “sell (d-)” rating on shares of Evotec in a report on Monday, December 29th. Wall Street Zen raised Evotec from a “sell” rating to a “hold” rating in a research note on Saturday. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $7.00.

Evotec Stock Down 4.8%

The company has a fifty day moving average of $3.16 and a 200-day moving average of $3.61. 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 Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of EVO. Valeo Financial Advisors LLC bought a new stake in shares of Evotec during the second quarter valued at approximately $43,000. DCF Advisers LLC boosted its stake in Evotec by 48.3% during the second 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 in the last quarter. WCM Investment Management LLC bought a new stake in Evotec in the 2nd quarter valued at $1,239,000. Pitcairn Co. acquired a new position in shares of Evotec in the 2nd quarter valued at $1,097,000. Finally, Envestnet Asset Management Inc. bought a new position in shares of Evotec during the 2nd quarter worth about $385,000. 5.81% of the stock is currently owned by institutional investors and hedge funds.

About Evotec

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.