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

Evotec SE (NASDAQ:EVO)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $5.55, but opened at $5.03. Evotec shares last traded at $5.07, with a volume of 121,125 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on EVO. Morgan Stanley lowered Evotec from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $15.00 to $6.00 in a research report on Monday, July 29th. HC Wainwright reaffirmed a “buy” rating and set a $8.00 price target on shares of Evotec in a report on Thursday, November 7th. Jefferies Financial Group cut 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 research report on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft cut Evotec from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $5.93.

Evotec Stock Performance

The company has a debt-to-equity ratio of 0.43, a current ratio of 2.09 and a quick ratio of 1.99. The business has a 50 day simple moving average of $3.66 and a two-hundred day simple moving average of $4.19.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of EVO. Vanguard Personalized Indexing Management LLC acquired a new position in Evotec during the 2nd quarter valued at approximately $87,000. Clear Harbor Asset Management LLC purchased a new stake in Evotec in the 3rd quarter worth approximately $104,000. Cetera Advisors LLC acquired a new stake in Evotec during the first quarter valued at $188,000. Mediolanum International Funds Ltd acquired a new position in Evotec in the 3rd quarter worth about $512,000. Finally, DCF Advisers LLC lifted its position in shares of Evotec by 140.5% during the 2nd 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 in the last quarter. Institutional investors own 5.81% of the company’s stock.

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.