Evotec (NASDAQ:EVO) Hits New 1-Year Low – Here’s Why

Evotec AG (NASDAQ:EVO) shares reached a new 52-week low during trading on Tuesday . The company traded as low as $1.80 and last traded at $1.81, with a volume of 28171 shares traded. The stock had previously closed at $1.86.

Analyst Upgrades and Downgrades

EVO has been the subject of several research reports. Berenberg Bank cut Evotec from a “buy” rating to a “hold” rating in a research note on Thursday, July 16th. HC Wainwright reduced their price objective on shares of Evotec from $7.00 to $4.00 and set a “buy” rating for the company in a research report on Wednesday, July 15th. TD Cowen cut shares of Evotec from a “buy” rating to a “hold” rating and set a $2.00 price objective on the stock. in a research note on Wednesday, July 15th. Finally, Weiss Ratings downgraded shares of Evotec from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 25th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $3.00.

Evotec Trading Down 2.7%

The company has a current ratio of 2.33, a quick ratio of 2.21 and a debt-to-equity ratio of 0.62. The business has a 50-day moving average price of $2.13 and a 200-day moving average price of $2.61.

Institutional Inflows and Outflows

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