Evotec (NASDAQ:EVO) Shares Gap Up – Time to Buy?

Shares of Evotec AG (NASDAQ:EVO) gapped up prior to trading on Wednesday . The stock had previously closed at $1.89, but opened at $1.95. Evotec shares last traded at $1.9550, with a volume of 10,420 shares trading hands.

Wall Street Analyst Weigh In

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

Evotec Stock Performance

The firm’s 50 day moving average price is $2.24 and its 200-day moving average price is $2.69. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.21 and a current ratio of 2.33.

Hedge Funds Weigh In On Evotec

A number of hedge funds have recently bought and sold shares of EVO. Wellington Management Group LLP grew its holdings in Evotec by 25.7% in the fourth 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 period. WCM Investment Management LLC raised its stake in shares of Evotec by 12.1% during the 1st quarter. WCM Investment Management LLC now owns 627,260 shares of the company’s stock worth $1,480,000 after buying an additional 67,917 shares during the period. ABC Arbitrage SA lifted its position in shares of Evotec by 319.7% during 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. Optiver Holding B.V. lifted its position in shares of Evotec by 598.4% during the 1st quarter. Optiver Holding B.V. now owns 283,576 shares of the company’s stock valued at $709,000 after buying an additional 242,973 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of Evotec during the 4th quarter valued at approximately $565,000. 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.