Evotec (NASDAQ:EVO) Shares Gap Down – Should You Sell?

Evotec AG (NASDAQ:EVO)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $1.96, but opened at $1.9191. Evotec shares last traded at $1.92, with a volume of 4,361 shares traded.

Analyst Ratings Changes

Several brokerages have recently weighed in on EVO. Wall Street Zen cut Evotec from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Berenberg Bank downgraded Evotec from a “buy” rating to a “hold” rating in a research note on Thursday, July 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Evotec in a report on Tuesday, July 21st. HC Wainwright decreased their price target on Evotec from $7.00 to $4.00 and set a “buy” rating on the stock in a research report on Wednesday, July 15th. Finally, TD Cowen downgraded shares of Evotec from a “buy” rating to a “hold” rating and set a $2.00 price target on the stock. in a report on Wednesday, July 15th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $3.00.

Evotec Trading Down 1.5%

The company has a debt-to-equity ratio of 0.62, a current ratio of 2.33 and a quick ratio of 2.21. The firm’s fifty day moving average price is $2.30 and its two-hundred day moving average price is $2.74.

Hedge Funds Weigh In On Evotec

A number of institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd boosted its position in shares of Evotec by 25.1% during the 4th quarter. XTX Topco Ltd now owns 18,469 shares of the company’s stock valued at $57,000 after acquiring an additional 3,709 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Evotec by 62.2% in the second quarter. BNP Paribas Financial Markets now owns 12,000 shares of the company’s stock worth $50,000 after purchasing an additional 4,600 shares during the last quarter. Bank of America Corp DE increased its position in shares of Evotec by 262.5% in the fourth quarter. Bank of America Corp DE now owns 12,828 shares of the company’s stock worth $53,000 after purchasing an additional 9,289 shares during the last quarter. Apollon Wealth Management LLC purchased a new stake in Evotec in the first quarter valued at approximately $28,000. Finally, Marshall Wace LLP bought a new stake in Evotec during the fourth quarter valued at approximately $40,000. 5.81% of the stock is currently owned by institutional investors.

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.