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

Evotec SE (NASDAQ:EVO) shares gapped down prior to trading on Wednesday . The stock had previously closed at $4.63, but opened at $4.42. Evotec shares last traded at $4.41, with a volume of 7,333 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a “buy” rating and issued a $8.00 price target on shares of Evotec in a report on Thursday, November 7th.

Evotec Price Performance

The company has a quick ratio of 1.99, a current ratio of 2.09 and a debt-to-equity ratio of 0.43. The firm has a fifty day simple moving average of $4.41 and a 200 day simple moving average of $4.03.

Hedge Funds Weigh In On Evotec

Several hedge funds and other institutional investors have recently modified their holdings of EVO. Wellington Management Group LLP lifted its stake in shares of Evotec by 29.7% in the 3rd 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. Mediolanum International Funds Ltd acquired a new position in shares of Evotec in the 3rd quarter valued at about $512,000. Lighthouse Investment Partners LLC acquired a new position in shares of Evotec in the 4th quarter valued at about $166,000. Clear Harbor Asset Management LLC acquired a new position in shares of Evotec in the 3rd quarter valued at about $104,000. Finally, DCF Advisers LLC lifted its stake in shares of Evotec by 5.9% in the 4th quarter. DCF Advisers LLC now owns 229,871 shares of the company’s stock valued at $956,000 after purchasing an additional 12,816 shares in the last quarter. 5.81% of the stock is owned by institutional investors and hedge funds.

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.