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

Evotec AG (NASDAQ:EVO)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $2.00, but opened at $2.10. Evotec shares last traded at $2.0950, with a volume of 14,548 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. TD Cowen cut Evotec from a “buy” rating to a “hold” rating and set a $2.00 price objective for the company. in a report on Wednesday, July 15th. Wall Street Zen cut Evotec from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. HC Wainwright decreased their target price on Evotec from $7.00 to $4.00 and set a “buy” rating for the company in a report on Wednesday, July 15th. Berenberg Bank lowered Evotec from a “buy” rating to a “hold” rating in a research note on Thursday, July 16th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Evotec in a report on Tuesday, July 21st. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $3.00.

Evotec Stock Up 1.0%

The company’s fifty day simple moving average is $2.43 and its 200 day simple moving average is $2.83. The company has a quick ratio of 1.60, a current ratio of 1.68 and a debt-to-equity ratio of 0.43.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Optiver Holding B.V. grew its stake in Evotec by 598.4% in the first quarter. Optiver Holding B.V. now owns 283,576 shares of the company’s stock worth $709,000 after purchasing an additional 242,973 shares during the period. WCM Investment Management LLC lifted its position in Evotec by 12.1% during the first quarter. WCM Investment Management LLC now owns 627,260 shares of the company’s stock valued at $1,480,000 after buying an additional 67,917 shares during the period. Apollon Wealth Management LLC bought a new stake in shares of Evotec during the 1st quarter valued at $28,000. SmartHarvest Portfolios LLC bought a new stake in shares of Evotec during the 1st quarter valued at $44,000. Finally, XTX Topco Ltd boosted its holdings in shares of Evotec by 25.1% during the 4th quarter. XTX Topco Ltd now owns 18,469 shares of the company’s stock valued at $57,000 after buying an additional 3,709 shares in the last quarter. Hedge funds and other institutional investors own 5.81% of the company’s stock.

Evotec Company Profile

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.