Evotec (NASDAQ:EVO) Shares Gap Up – Here’s Why

Evotec SE (NASDAQ:EVO) gapped up before the market opened on Monday . The stock had previously closed at $4.49, but opened at $4.82. Evotec shares last traded at $4.78, with a volume of 11,147 shares.

Wall Street Analyst Weigh In

Several research firms have weighed in on EVO. Jefferies Financial Group lowered shares of Evotec from a “buy” rating to a “hold” rating and decreased their target price for the company from $8.70 to $3.80 in a report on Monday, October 7th. 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 reiterated a “buy” rating and issued a $8.00 price target on shares of Evotec in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Evotec presently has a consensus rating of “Hold” and an average price target of $5.93.

Evotec Stock Down 2.7 %

The company has a current ratio of 2.09, a quick ratio of 1.99 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average price of $3.86 and a 200-day moving average price of $4.18.

Institutional Trading of Evotec

Several institutional investors have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Evotec in the 2nd quarter valued at about $87,000. Cetera Advisors LLC acquired a new position in Evotec during the first quarter worth approximately $188,000. Clear Harbor Asset Management LLC purchased a new stake in Evotec in the third quarter valued at approximately $104,000. DCF Advisers LLC boosted its holdings in shares of Evotec by 140.5% in the second quarter. DCF Advisers LLC now owns 114,953 shares of the company’s stock valued at $552,000 after acquiring an additional 67,156 shares during the period. Finally, Mediolanum International Funds Ltd purchased a new position in shares of Evotec during the third quarter worth approximately $512,000. Hedge funds and other 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.