Short Interest in Evotec SE (NASDAQ:EVO) Declines By 8.6%

Evotec SE (NASDAQ:EVO) saw a large decline in short interest in August. As of August 31st, there was short interest totalling 191,400 shares, a decline of 8.6% from the August 15th total of 209,500 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 90,000 shares, the days-to-cover ratio is currently 2.1 days.

Institutional Trading of Evotec

Several institutional investors and hedge funds have recently bought and sold shares of EVO. Novo Holdings A S purchased a new position in Evotec during the 2nd quarter worth approximately $71,183,000. DCF Advisers LLC boosted its position 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 buying an additional 67,156 shares during the period. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Evotec during the second quarter valued at $87,000. Cetera Advisors LLC acquired a new position in Evotec during the first quarter valued at $188,000. Finally, Mubadala Investment Co PJSC purchased a new stake in Evotec in the 4th quarter worth about $53,931,000. Institutional investors and hedge funds own 5.81% of the company’s stock.

Evotec Stock Performance

Shares of NASDAQ EVO remained flat at $3.64 during mid-day trading on Wednesday. The stock had a trading volume of 18,637 shares, compared to its average volume of 105,792. The company has a quick ratio of 1.73, a current ratio of 1.83 and a debt-to-equity ratio of 0.42. Evotec has a twelve month low of $2.85 and a twelve month high of $12.00. The business’s 50-day moving average is $3.88 and its 200 day moving average is $5.20.

Analyst Upgrades and Downgrades

A number of analysts have commented on EVO shares. HC Wainwright dropped their price target on shares of Evotec from $11.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft downgraded shares of Evotec from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Finally, Morgan Stanley downgraded shares of Evotec from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $15.00 to $6.00 in a report on Monday, July 29th.

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.