Evotec (NASDAQ:EVO) Stock Price Down 16.1% – Here’s Why

Evotec AG (NASDAQ:EVO) dropped 16.1% during mid-day trading on Monday . The stock traded as low as $2.35 and last traded at $2.34. 80,557 shares were traded during trading, a decline of 20% from the average daily volume of 100,118 shares. The stock had previously closed at $2.79.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Wall Street Zen lowered shares of Evotec from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings upgraded Evotec from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, April 24th. Finally, HC Wainwright assumed coverage on Evotec in a report on Wednesday, April 15th. They issued a “buy” rating and a $7.00 price target for the company. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Evotec currently has an average rating of “Moderate Buy” and an average price target of $7.00.

Evotec Stock Down 12.3%

The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.60 and a current ratio of 1.68. The company’s 50-day moving average is $2.85 and its 200-day moving average is $3.05.

Evotec (NASDAQ:EVO) last posted its earnings results on Tuesday, March 31st. The company reported $0.05 earnings per share for the quarter. Evotec had a negative net margin of 26.20% and a negative return on equity of 24.93%. The company had revenue of $297.02 million for the quarter. As a group, equities research analysts predict that Evotec AG will post -0.63 earnings per share for the current year.

Institutional Trading of Evotec

Institutional investors have recently made changes to their positions in the company. ABC Arbitrage SA grew its position in Evotec by 319.7% in the fourth quarter. ABC Arbitrage SA now owns 554,287 shares of the company’s stock worth $1,707,000 after acquiring an additional 422,230 shares during the period. Wellington Management Group LLP lifted its stake in shares of Evotec by 25.7% in the 4th quarter. Wellington Management Group LLP now owns 1,797,444 shares of the company’s stock valued at $5,536,000 after purchasing an additional 367,545 shares during the last quarter. Optiver Holding B.V. lifted its stake in shares of Evotec by 598.4% in the 1st quarter. Optiver Holding B.V. now owns 283,576 shares of the company’s stock valued at $709,000 after purchasing an additional 242,973 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Evotec during the 4th quarter worth $565,000. Finally, Millennium Management LLC acquired a new stake in shares of Evotec during the 4th quarter worth about $317,000. Hedge funds and other institutional investors own 5.81% of the company’s stock.

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.