Evotec (NASDAQ:EVO) Stock Price Down 3% – Time to Sell?

Evotec SE (NASDAQ:EVO) shares were down 3% during mid-day trading on Thursday . The stock traded as low as $4.84 and last traded at $4.85. Approximately 4,094 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 139,651 shares. The stock had previously closed at $5.00.

Wall Street Analyst Weigh In

Several brokerages recently commented on EVO. Jefferies Financial Group downgraded shares of Evotec from a “buy” rating to a “hold” rating and cut their price objective for the company from $8.70 to $3.80 in a research report on Monday, October 7th. HC Wainwright reiterated a “buy” rating and set a $8.00 price target on shares of Evotec in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, Evotec presently has an average rating of “Hold” and a consensus target price of $5.93.

Evotec Stock Performance

The firm has a 50-day moving average of $4.47 and a 200 day moving average of $4.14. The company has a current ratio of 2.09, a quick ratio of 1.99 and a debt-to-equity ratio of 0.43.

Institutional Trading of Evotec

A number of institutional investors have recently made changes to their positions in EVO. Vanguard Personalized Indexing Management LLC bought a new position in shares of Evotec during the 2nd quarter valued at $87,000. DCF Advisers LLC grew its holdings in shares of Evotec by 140.5% in the second quarter. DCF Advisers LLC now owns 114,953 shares of the company’s stock worth $552,000 after acquiring an additional 67,156 shares during the period. Novo Holdings A S purchased a new stake in Evotec during the second quarter valued at $71,183,000. Mediolanum International Funds Ltd bought a new position in Evotec in the third quarter valued at about $512,000. Finally, Clear Harbor Asset Management LLC purchased a new position in Evotec in the third quarter worth about $104,000. Hedge funds and other institutional investors own 5.81% of the company’s stock.

About Evotec

Evotec SE operates as drug discovery and development partner for the pharmaceutical and biotechnology industry worldwide. The company is developing pharmaceutical products in various therapeutic areas, such as autoimmune diseases, cancer, CNS diseases, diabetes, fibrosis, immunology, infectious diseases, kidney diseases, liver diseases, pain and inflammation, rare diseases, respiratory diseases, tuberculosis, and women’s health.