Evotec (NASDAQ:EVO) Shares Gap Down – Time to Sell?

Evotec AG (NASDAQ:EVO) gapped down before the market opened on Wednesday . The stock had previously closed at $3.87, but opened at $3.70. Evotec shares last traded at $3.6190, with a volume of 24,523 shares trading hands.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EVO. Wall Street Zen upgraded Evotec from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Evotec in a report on Monday, December 29th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Evotec currently has a consensus rating of “Hold” and an average price target of $7.00.

Evotec Trading Down 0.3%

The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.03 and a current ratio of 2.12. The business has a fifty day moving average of $3.17 and a two-hundred day moving average of $3.61.

Institutional Trading of Evotec

A number of hedge funds have recently modified their holdings of EVO. DCF Advisers LLC raised its holdings in Evotec by 48.3% in the 2nd quarter. DCF Advisers LLC now owns 1,114,493 shares of the company’s stock valued at $4,681,000 after acquiring an additional 362,914 shares during the period. Valeo Financial Advisors LLC acquired a new position in shares of Evotec in the second quarter valued at approximately $43,000. WCM Investment Management LLC acquired a new position in shares of Evotec in the second quarter valued at approximately $1,239,000. Pitcairn Co. bought a new position in shares of Evotec during the second quarter worth approximately $1,097,000. Finally, Envestnet Asset Management Inc. acquired a new stake in Evotec during the 2nd quarter worth approximately $385,000. Institutional investors and hedge funds own 5.81% of the company’s stock.

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.