Evotec (NASDAQ:EVO) Shares Gap Down to $3.51

Evotec SE (NASDAQ:EVO)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $3.51, but opened at $3.35. Evotec shares last traded at $3.30, with a volume of 10,198 shares changing hands.

Wall Street Analyst Weigh In

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

Evotec Stock Down 2.6 %

The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.73 and a current ratio of 1.83. The company’s 50 day moving average price is $3.66 and its two-hundred day moving average price is $4.98.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EVO. Optiver Holding B.V. lifted its holdings in Evotec by 643.1% during the fourth quarter. Optiver Holding B.V. now owns 80,810 shares of the company’s stock worth $945,000 after buying an additional 69,936 shares during the period. Mubadala Investment Co PJSC purchased a new stake in shares of Evotec during the 4th quarter worth $53,931,000. Cetera Advisors LLC bought a new stake in Evotec during the first quarter valued at about $188,000. Vanguard Personalized Indexing Management LLC purchased a new position in Evotec in the second quarter valued at about $87,000. Finally, DCF Advisers LLC raised its holdings in 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 purchasing an additional 67,156 shares in the last quarter. 5.81% of the stock is currently owned by institutional investors.

Evotec Company Profile

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.