Evotec (NASDAQ:EVO) Hits New 12-Month Low – Here’s Why

Evotec AG (NASDAQ:EVO) shares hit a new 52-week low on Tuesday . The company traded as low as $1.8950 and last traded at $1.90, with a volume of 8258 shares trading hands. The stock had previously closed at $1.96.

Analyst Ratings Changes

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

Evotec Price Performance

The company has a quick ratio of 2.21, a current ratio of 2.33 and a debt-to-equity ratio of 0.62. The stock has a fifty day simple moving average of $2.33 and a 200 day simple moving average of $2.76.

Institutional Investors Weigh In On Evotec

A number of large investors have recently made changes to their positions in the company. Apollon Wealth Management LLC purchased a new position in shares of Evotec in the first quarter worth approximately $28,000. Marshall Wace LLP purchased a new position in shares of Evotec during the 4th quarter worth $40,000. SmartHarvest Portfolios LLC bought a new stake in shares of Evotec during the 1st quarter valued at $44,000. BNP Paribas Financial Markets increased its stake in shares of Evotec by 62.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 12,000 shares of the company’s stock worth $50,000 after purchasing an additional 4,600 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in Evotec by 262.5% in the 4th quarter. Bank of America Corp DE now owns 12,828 shares of the company’s stock worth $53,000 after purchasing an additional 9,289 shares during the period. 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.