Evotec (NASDAQ:EVO) Sets New 1-Year Low – What’s Next?

Evotec AG (NASDAQ:EVO) shares hit a new 52-week low during trading on Monday . The company traded as low as $1.67 and last traded at $1.67, with a volume of 4567 shares trading hands. The stock had previously closed at $1.73.

Analysts Set New Price Targets

Several research firms have recently commented on EVO. TD Cowen cut Evotec from a “buy” rating to a “hold” rating and set a $2.00 target price for the company. in a research note on Wednesday, July 15th. HC Wainwright cut their price target on Evotec from $7.00 to $4.00 and set a “buy” rating on the stock in a research note on Wednesday, July 15th. Weiss Ratings cut Evotec from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 25th. Finally, Berenberg Bank lowered Evotec from a “buy” rating to a “hold” rating in a research report on Thursday, July 16th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Evotec presently has a consensus rating of “Hold” and a consensus target price of $3.00.

Evotec Stock Down 3.0%

The business has a 50 day simple moving average of $1.99 and a 200-day simple moving average of $2.53. The company has a quick ratio of 2.21, a current ratio of 2.33 and a debt-to-equity ratio of 0.62.

Institutional Trading of Evotec

A number of large investors have recently bought and sold shares of the business. Apollon Wealth Management LLC bought a new position in Evotec in the first quarter valued at approximately $28,000. SmartHarvest Portfolios LLC bought a new stake in shares of Evotec during the first quarter worth $44,000. Fore Capital LLC acquired a new stake in shares of Evotec during the fourth quarter worth $97,000. Optiver Holding B.V. raised its holdings 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 worth $709,000 after acquiring an additional 242,973 shares during the period. Finally, WCM Investment Management LLC lifted its position in Evotec by 12.1% in the 1st quarter. WCM Investment Management LLC now owns 627,260 shares of the company’s stock valued at $1,480,000 after acquiring an additional 67,917 shares in the last quarter. 5.81% of the stock is owned by institutional investors.

Evotec Company Profile

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.