Evotec (NASDAQ:EVO) Shares Gap Up – Time to Buy?

Evotec AG (NASDAQ:EVO)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $3.42, but opened at $3.72. Evotec shares last traded at $3.7410, with a volume of 50,692 shares.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on EVO shares. Weiss Ratings restated a “sell (d-)” rating on shares of Evotec in a report on Monday, December 29th. Wall Street Zen raised Evotec from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. Finally, Berenberg Bank began coverage on Evotec in a report on Tuesday. They set a “buy” rating for the company. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Evotec presently has a consensus rating of “Hold” and an average price target of $7.00.

Evotec Price Performance

The stock has a 50 day simple moving average of $3.33 and a 200-day simple moving average of $3.55. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.03 and a current ratio of 2.12.

Institutional Investors Weigh In On Evotec

Large investors have recently bought and sold shares of the business. ABC Arbitrage SA boosted its holdings in shares of Evotec by 319.7% during the 4th quarter. ABC Arbitrage SA now owns 554,287 shares of the company’s stock valued at $1,707,000 after acquiring an additional 422,230 shares during the last quarter. Citadel Advisors LLC lifted its holdings in shares of Evotec by 186.1% during the 3rd quarter. Citadel Advisors LLC now owns 96,045 shares of the company’s stock valued at $349,000 after buying an additional 62,471 shares during the period. DCF Advisers LLC increased its position in Evotec by 7.6% during the third quarter. DCF Advisers LLC now owns 1,198,993 shares of the company’s stock valued at $4,352,000 after acquiring an additional 84,500 shares during the last quarter. Thrivent Financial for Lutherans bought a new stake in shares of Evotec during the 3rd quarter valued at about $53,000. Finally, Valeo Financial Advisors LLC purchased a new stake in shares of Evotec during the 2nd quarter valued at about $43,000. 5.81% of the stock is currently owned by institutional investors.

About Evotec

Evotec SE (NASDAQ:EVO) is a global biotechnology company headquartered in Hamburg, Germany, specializing in drug discovery and development partnerships. The company leverages its integrated discovery platforms to support pharmaceutical and biotech clients in advancing novel therapies from target identification through preclinical development.

Evotec’s service offering encompasses high-throughput screening, bioanalytics, combinatorial chemistry, structural biology, pharmacology, and computational drug design.