Evotec (NASDAQ:EVO) Trading Down 3% – Here’s What Happened

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on EVO. Jefferies Financial Group lowered shares of Evotec from a “buy” rating to a “hold” rating and dropped their target price for the stock from $8.70 to $3.80 in a report on Monday, October 7th. HC Wainwright reiterated a “buy” rating and issued a $8.00 price objective on shares of Evotec in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Evotec presently has an average rating of “Hold” and a consensus target price of $5.93.

Evotec Stock Performance

The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.99 and a current ratio of 2.09. The business’s 50 day moving average price is $4.47 and its two-hundred day moving average price is $4.14.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Evotec in the 2nd quarter valued at approximately $87,000. Clear Harbor Asset Management LLC bought a new position in Evotec in the third quarter worth $104,000. DCF Advisers LLC lifted its position in Evotec by 140.5% during the second quarter. DCF Advisers LLC now owns 114,953 shares of the company’s stock valued at $552,000 after buying an additional 67,156 shares during the period. Mediolanum International Funds Ltd bought a new stake in shares of Evotec during the 3rd quarter valued at $512,000. Finally, Wellington Management Group LLP boosted its holdings in shares of Evotec by 29.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,634,434 shares of the company’s stock valued at $9,616,000 after buying an additional 602,858 shares in the last quarter. 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.