Evotec (NASDAQ:EVO) Shares Down 3.6% – What’s Next?

Evotec SE (NASDAQ:EVO)’s stock price dropped 3.6% during trading on Tuesday . The company traded as low as $4.02 and last traded at $4.03. Approximately 20,210 shares traded hands during trading, a decline of 63% from the average daily volume of 54,748 shares. The stock had previously closed at $4.18.

Wall Street Analyst Weigh In

EVO has been the topic of several research analyst reports. HC Wainwright restated a “buy” rating and issued a $8.00 price objective on shares of Evotec in a research report on Thursday, November 7th. Jefferies Financial Group downgraded Evotec from a “buy” rating to a “hold” rating and lowered their price target for the stock from $8.70 to $3.80 in a research report on Monday, October 7th. One 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. Based on data from MarketBeat, Evotec currently has a consensus rating of “Hold” and an average 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 firm has a 50 day moving average price of $4.63 and a 200 day moving average price of $4.12.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its stake in shares of Evotec by 29.7% during the third quarter. Wellington Management Group LLP now owns 2,634,434 shares of the company’s stock valued at $9,616,000 after purchasing an additional 602,858 shares in the last quarter. Clear Harbor Asset Management LLC purchased a new stake in Evotec during the third quarter worth $104,000. Mediolanum International Funds Ltd bought a new stake in Evotec during the 3rd quarter valued at $512,000. Novo Holdings A S purchased a new position in shares of Evotec in the 2nd quarter valued at $71,183,000. Finally, DCF Advisers LLC raised its position in shares of Evotec by 140.5% in the 2nd 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. 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.