Evotec AG (NASDAQ:EVO) Sees Significant Increase in Short Interest

Evotec AG (NASDAQ:EVO) saw a large increase in short interest in August. As of August 31st, there was short interest totaling 91,437 shares, an increase of 80.2% from the August 15th total of 50,740 shares. Based on an average daily trading volume, of 36,520 shares, the days-to-cover ratio is currently 2.5 days. Currently, 0.0% of the shares of the stock are sold short.

Evotec Price Performance

Shares of NASDAQ:EVO traded up $0.04 during trading on Thursday, reaching $1.67. The stock had a trading volume of 7,238 shares, compared to its average volume of 91,187. Evotec has a 52 week low of $1.60 and a 52 week high of $4.27. The business’s 50-day moving average price is $1.97 and its 200 day moving average price is $2.52. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.21 and a current ratio of 2.33.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Apollon Wealth Management LLC bought a new stake in Evotec during the 1st quarter worth about $28,000. SmartHarvest Portfolios LLC acquired a new position in shares of Evotec during the first quarter worth approximately $44,000. Fore Capital LLC acquired a new position in shares of Evotec during the fourth quarter worth approximately $97,000. Optiver Holding B.V. grew its stake in shares of Evotec by 598.4% during the first quarter. Optiver Holding B.V. now owns 283,576 shares of the company’s stock valued at $709,000 after purchasing an additional 242,973 shares during the last quarter. Finally, WCM Investment Management LLC increased its holdings in shares of Evotec by 12.1% in the first quarter. WCM Investment Management LLC now owns 627,260 shares of the company’s stock valued at $1,480,000 after purchasing an additional 67,917 shares in the last quarter. 5.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on EVO. Weiss Ratings cut shares of Evotec from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 25th. TD Cowen lowered Evotec from a “buy” rating to a “hold” rating and set a $2.00 price objective on the stock. in a research note on Wednesday, July 15th. HC Wainwright dropped 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. Finally, Berenberg Bank downgraded Evotec from a “buy” rating to a “hold” rating in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $3.00.

About Evotec

Evotec SE is a Germany-based biotechnology company that provides drug discovery and development services to pharmaceutical, biotechnology and academic organizations. The company works across the research process, from early-stage target identification and assay development through hit identification, lead optimization, preclinical research and translational development.

Evotec uses technology platforms and scientific expertise in areas including small-molecule drug discovery, biologics, protein degradation, cell and gene therapy, and precision medicine.