Evotec (NASDAQ:EVO) Hits New 52-Week Low – What’s Next?

Evotec AG (NASDAQ:EVO) reached a new 52-week low during trading on Monday . The stock traded as low as $1.86 and last traded at $1.87, with a volume of 10644 shares traded. The stock had previously closed at $1.91.

Wall Street Analysts Forecast Growth

EVO has been the topic of a number of recent analyst reports. Wall Street Zen cut Evotec from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. HC Wainwright reduced their price objective on Evotec from $7.00 to $4.00 and set a “buy” rating for the company in a research report on Wednesday, July 15th. Berenberg Bank lowered Evotec from a “buy” rating to a “hold” rating in a report on Thursday, July 16th. Weiss Ratings cut Evotec from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, August 25th. Finally, TD Cowen downgraded Evotec from a “buy” rating to a “hold” rating and set a $2.00 target price on the stock. in a research note on Wednesday, July 15th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $3.00.

Evotec Stock Performance

The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.21 and a current ratio of 2.33. The company’s 50 day simple moving average is $2.20 and its 200 day simple moving average is $2.65.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Apollon Wealth Management LLC acquired a new stake in Evotec in the first quarter worth approximately $28,000. BNP Paribas Financial Markets boosted its stake in Evotec by 62.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 12,000 shares of the company’s stock valued at $50,000 after purchasing an additional 4,600 shares in the last quarter. Bank of America Corp DE increased its position in shares of Evotec by 262.5% during the 4th quarter. Bank of America Corp DE now owns 12,828 shares of the company’s stock valued at $53,000 after purchasing an additional 9,289 shares during the period. Marshall Wace LLP acquired a new position in shares of Evotec during the 4th quarter valued at $40,000. Finally, XTX Topco Ltd bought a new stake in shares of Evotec in the 2nd quarter worth $66,000. Institutional investors and hedge funds 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.