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

Evotec SE (NASDAQ:EVO)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $4.16, but opened at $4.32. Evotec shares last traded at $4.29, with a volume of 6,705 shares traded.

Wall Street Analyst Weigh In

EVO has been the subject of a number of research reports. Jefferies Financial Group cut Evotec from a “buy” rating to a “hold” rating and decreased their target price for the stock from $8.70 to $3.80 in a report on Monday, October 7th. HC Wainwright reissued a “buy” rating and issued a $8.00 target price on shares of Evotec in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $5.93.

Evotec Stock Performance

The business’s 50 day moving average price is $4.55 and its 200-day moving average price is $4.13. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.99 and a current ratio of 2.09.

Hedge Funds Weigh In On Evotec

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Evotec in the second quarter worth about $87,000. Clear Harbor Asset Management LLC acquired a new position in shares of Evotec in the 3rd quarter valued at approximately $104,000. Mediolanum International Funds Ltd purchased a new position in shares of Evotec during the 3rd quarter valued at approximately $512,000. DCF Advisers LLC grew its position in shares of 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 buying an additional 67,156 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Evotec by 29.7% in the third quarter. Wellington Management Group LLP now owns 2,634,434 shares of the company’s stock worth $9,616,000 after buying an additional 602,858 shares during the last quarter. 5.81% of the stock is owned by hedge funds and other 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.