Evotec (NASDAQ:EVO) Shares Gap Down to $7.24

Evotec SE (NASDAQ:EVO)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $7.24, but opened at $7.04. Evotec shares last traded at $7.03, with a volume of 6,390 shares traded.

Wall Street Analyst Weigh In

Several research firms have weighed in on EVO. Royal Bank of Canada raised shares of Evotec from a “sector perform” rating to an “outperform” rating in a research report on Thursday, January 18th. Deutsche Bank Aktiengesellschaft upgraded shares of Evotec from a “hold” rating to a “buy” rating in a research note on Friday, April 12th.

Evotec Stock Performance

The firm’s 50 day simple moving average is $7.37 and its 200 day simple moving average is $8.73.

Hedge Funds Weigh In On Evotec

Several large investors have recently made changes to their positions in EVO. Mubadala Investment Co PJSC acquired a new position in shares of Evotec in the 4th quarter valued at $53,931,000. Optiver Holding B.V. lifted its stake in shares of Evotec by 643.1% in the 4th quarter. Optiver Holding B.V. now owns 80,810 shares of the company’s stock valued at $945,000 after purchasing an additional 69,936 shares during the period. OLD Mission Capital LLC acquired a new position in shares of Evotec in the 4th quarter valued at $141,000. Finally, Quadrant Capital Group LLC acquired a new position in shares of Evotec in the 4th quarter valued at $25,000. 5.81% of the stock is currently owned by institutional investors and hedge funds.

Evotec Company Profile

Evotec SE operates as drug discovery and development partner for the pharmaceutical and biotechnology industry worldwide. The company is developing pharmaceutical products in various therapeutic areas, such as diabetes and complications, fibrosis, infectious diseases, CNS diseases, oncology, pain and inflammation, immunology, rare diseases, respiratory diseases, and women's health.