Evotec (NASDAQ:EVO) Trading Down 2.7% After Analyst Downgrade

Evotec SE (NASDAQ:EVO) dropped 2.7% during trading on Thursday after HC Wainwright lowered their price target on the stock from $11.00 to $8.00. HC Wainwright currently has a buy rating on the stock. Evotec traded as low as $3.21 and last traded at $3.22. Approximately 26,393 shares were traded during trading, a decline of 76% from the average daily volume of 110,617 shares. The stock had previously closed at $3.31.

Other analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft cut Evotec from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Morgan Stanley cut Evotec from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $15.00 to $6.00 in a research report on Monday, July 29th.

Institutional Trading of Evotec

Several hedge funds have recently added to or reduced their stakes in the company. DCF Advisers LLC lifted its holdings in Evotec by 140.5% during the 2nd quarter. DCF Advisers LLC now owns 114,953 shares of the company’s stock worth $552,000 after purchasing an additional 67,156 shares during the last quarter. Vanguard Personalized Indexing Management LLC acquired a new stake in Evotec during the 2nd quarter worth approximately $87,000. Cetera Advisors LLC acquired a new stake in Evotec during the 1st quarter worth approximately $188,000. Mubadala Investment Co PJSC acquired a new stake in Evotec during the 4th quarter worth approximately $53,931,000. Finally, Optiver Holding B.V. increased its stake in Evotec by 643.1% during the 4th quarter. Optiver Holding B.V. now owns 80,810 shares of the company’s stock worth $945,000 after acquiring an additional 69,936 shares during the period. 5.81% of the stock is owned by institutional investors and hedge funds.

Evotec Stock Performance

The stock has a 50 day simple moving average of $4.54 and a 200 day simple moving average of $5.91. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.79 and a current ratio of 1.86.

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.