Evotec (NASDAQ:EVO) Shares Gap Down – What’s Next?

Evotec SE (NASDAQ:EVO) gapped down prior to trading 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.

Wall Street Analyst Weigh In

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

Evotec Stock Down 1.8 %

The company has a quick ratio of 1.73, a current ratio of 1.83 and a debt-to-equity ratio of 0.42. The business’s 50 day moving average price is $3.60 and its 200-day moving average price is $4.94.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in EVO. Vanguard Personalized Indexing Management LLC acquired a new position in Evotec in the second quarter valued at about $87,000. Cetera Advisors LLC acquired a new stake in Evotec in the 1st quarter valued at $188,000. DCF Advisers LLC raised its holdings in Evotec by 140.5% during 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 in the last quarter. Mubadala Investment Co PJSC acquired a new position in shares of Evotec during the 4th quarter worth approximately $53,931,000. Finally, Novo Holdings A S acquired a new stake in Evotec in the second quarter valued at $71,183,000. 5.81% of the stock is currently owned by institutional investors and hedge funds.

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.