Evotec (NASDAQ:EVO) Reaches New 1-Year Low – Should You Sell?

Evotec AG (NASDAQ:EVO) shares reached a new 52-week low during trading on Tuesday . The stock traded as low as $2.60 and last traded at $2.6150, with a volume of 203089 shares changing hands. The stock had previously closed at $3.03.

Analysts Set New Price Targets

EVO has been the topic of a number of research analyst reports. Wall Street Zen upgraded Evotec from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Berenberg Bank initiated coverage on Evotec in a research note on Tuesday, February 3rd. They issued a “buy” rating on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Evotec in a report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $7.00.

Evotec Price Performance

The company has a quick ratio of 2.03, a current ratio of 2.12 and a debt-to-equity ratio of 0.48. The stock has a fifty day moving average price of $3.48 and a 200 day moving average price of $3.47.

Institutional Investors Weigh In On Evotec

Several hedge funds and other institutional investors have recently made changes to their positions in EVO. DCF Advisers LLC boosted its stake in shares of Evotec by 48.3% during the 2nd quarter. DCF Advisers LLC now owns 1,114,493 shares of the company’s stock worth $4,681,000 after purchasing an additional 362,914 shares during the period. Pitcairn Co. purchased a new stake in Evotec in the 2nd quarter worth about $1,097,000. Envestnet Asset Management Inc. bought a new stake in Evotec in the second quarter worth about $385,000. Citadel Advisors LLC boosted its position in shares of Evotec by 186.1% during the third quarter. Citadel Advisors LLC now owns 96,045 shares of the company’s stock valued at $349,000 after buying an additional 62,471 shares during the period. Finally, LPL Financial LLC grew its stake in shares of Evotec by 25.1% during the fourth quarter. LPL Financial LLC now owns 94,625 shares of the company’s stock valued at $291,000 after buying an additional 18,964 shares during the last quarter. Hedge funds and other institutional investors own 5.81% of the company’s stock.

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.